A recent published article by the Chinese government signals a clear shift in the focus of the country’s top leadership led by President Xi Jinping away from the anti-corruption campaign to economic growth, says a research report released by Mizuho Securities Asia Ltd. On 26 February, the Central Commission for Discipline Inspection (CCDI) published an […]

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Goldman Sachs Gao Hua says it expects China’s January to February economic indicators and credit growth to slow, while inflation has likely picked up, according to a research report. China is scheduled to release January and February economic data over the next two weeks with trade data on March 8, inflation data on March 10, […]

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Lei Jun, founder of Chinese smartphone maker Xiaomi Inc., says his company will not enter the electric vehicle market in the next few years, according to Chinese media reports. There have been repeated rumors that Xiaomi has been secretly developing its own electric cars, but Lei has denied the reports on various occasions. Lei made […]

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Chinese movie studio Huayi Brothers Media Corp. and Tencent Holdings Ltd. have completed taking over control of a Hong Kong shell company to serve as an offshore platform for their internationalization efforts. China Jiuhao Health Industry Corp., a retirement home developer listed in Hong Kong, has been renamed Huayi Tencent Entertainment. Huayi Tencent Entertainment has […]

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Despite media reports of Alibaba Group Holding Ltd.’s plans to take on additional US$3 billion to $4 billion bank loans, Standard & Poor’s Ratings says it will keep the e-commerce giant’s credit rating at A+ with a stable outlook. S&P forecasts Alibaba’s gross debt will increase to RMB70 billion to RMB80 billion as of the […]

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Macau’s better-than-expected gaming revenue numbers for February 2016 are not a sign of a rebound, and the city will most likely face another tough year in 2016, says Standard & Poor’s Ratings Services. The Gaming Inspection and Coordination Bureau of Macao SAR released data yesterday that gaming revenue in Macau declined 0.1% in February 2016, […]

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A total of 251 billionaires from mainland China made to Forbes magazine’s annual list of global billionaires this year, up from 213 a year ago and second only to the U.S., which had 540. Dalian Wanda Group’s Wang Jianlin saw his fortune rose to US$28.7 billion from US$24.2 billion a year ago, becoming the richest […]

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In a ruling to hold a Chinese company accountable for harming U.S. investors by going dark on a public stock exchange, the chief executive of formerly NASDAQ-listed Sino Clean Energy Inc. was ordered jailed by a Nevada State District Judge. In an announcement, Judge Bridgett E. Robb ordered the 45-year-old Baowen Ren in criminal contempt […]

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Qunar is planning to co-found a budget airline with two unnamed partners, after the company endured a crisis earlier this year when major Chinese airlines cut ties with the online travel agency, says Tencent Technology citing official confirmation from Qunar. Qunar’s move underlines the challenges it faces and how it plans to move forward. The […]

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China’s February official manufacturing PMI was disappointing, with the headline index declining to 49.0 from 49.4 in January in the seventh consecutive month that the manufacturing PMI came in below the benchmark level of 50. Despite the uptick in new export orders, sub-indicators suggest that both domestic and external demands were soft as they remained […]

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