China Construction Bank Corp announced on Tuesday that it has established a 24-billion-yuan ($3.57 billion) transformation and development fund jointly with Wuhan Iron and Steel (Group) Corp to reduce the company's leverage, mainly through debt-to-equity swaps. So far, the company has received half of the fund's amount.
Dongbei Special Steel Group Co Ltd, a State-owned steelmaker in northeastern China, started bankruptcy proceedings on Monday.
Chinese investments in the United States automotive industry continues to grow with a subsidiary of Fuyao Glass Industry Group, the world's leading automotive glass manufacturing company, planning to invest $1 billion in facilities there.
Limits on residential property purchases are driving capital flows into stocks, resulting in immediate, short-term increases in stock prices in China's A-share market, analysts said on Monday.
The biggest weekly slump in the global gold price led Beijing's gold stores to cut their prices for the first time this year. The price in Beijing declined by 10 yuan ($1.5) per gram on Sunday. This was the first cut, following six earlier price increases this year.
Shares of China United Network Communications Limited rose 5.06 percent on Monday after its State-owned parent company confirmed that it is considering pushing forward "mixed-ownership reform".
Personal computers continue to be the dominant device for online gaming in China, but mobile games are now starting to close the gap.
Merger of leading cement companies will likely concentrate the industry's capacities, according to the China Cement Association.
Ant Financial, the Chinese payments giant controlled by billionaire Jack Ma, expects this year's Singles Day shopping extravaganza on Nov 11 to top 2015's roughly $14 billion as domestic consumption remains resilient despite an economic slowdown.
A skeptical A-share market will continue to be cautious in the first week after the National Day holiday (Oct 1-7), analysts said.
Bets on consumer-related stocks and high-end manufacturers have helped Grace Lu vault to the top ranks of China-focused hedge fund managers this year, bucking industry-wide losses.
Inside a large hall of the lush Shaolin establishment in Central China, the stage is set on a recent afternoon. The arc lights are switched on and a few chairs laid out in a neat row. The place echoes in the collective hum of people's voices. Young monks in shaven heads and gray robes gather in a corner of the room.
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