Latest China news

  • China parliament ratifies BRICS Bank agreement 1 hour 7 minutes ago

    China's largely rubber-stamp parliament ratified an agreement with the world's largest emerging nations on Wednesday to create a new development bank, state news agency Xinhua reported. The New Development Bank, also known as the BRICS Bank, is one of two international development banks that China is promoting as an alternative to western institutions such as the World Bank. The Standing Committee of the National People's Congress, China's legislature, approved the agreement between Brazil, Russia, India, China and South Africa to create the bank, Xinhua said. More »

  • World Bank urges China to embrace basic financial reforms 1 hour 22 minutes ago

    The World Bank has urged China to carry out fundamental reform of its state-dominated financial system to keep economic growth on track. The bank said Wednesday that the communist government needs to address ... More »

  • China's Xiaomi names DST partner Chew as chief financial officer 1 hour 22 minutes ago

    By Gerry Shih BEIJING (Reuters) - Beijing-based smartphone maker Xiaomi Inc said on Wednesday it has hired private equity investor Shou Zi Chew as chief financial officer, further bolstering its executive ranks in a period of rapid international expansion. Chew, the Hong Kong-based partner of DST Investment Management Ltd, first helped the prominent late-stage technology fund invest in Xiaomi in 2011. ... More »

  • China's manufacturing weak in June, more jobs cut 1 hour 29 minutes ago

    BEIJING (AP) — China's manufacturing was weak in June and employers cut more jobs, two surveys showed Wednesday, in a new sign the world's second-largest economy is struggling to emerge from a slump. More »

  • China June factory, services surveys fuel hopes economy levelling out, no quick …
    China June factory, services surveys fuel hopes economy levelling out, no quick … 2 hours 3 minutes ago

    By Kevin Yao BEIJING (Reuters) - Activity in China's factory sector expanded slightly in June though not as much as expected, while growth in the services sector sped up, official surveys showed, offering some signs that the world's second-largest economy may be starting to slowly level out after a raft of support measures. Beijing has rolled out a flurry of steps since last year, including interest rate cuts and more infrastructure spending, but analysts remain wary about the outlook given the still-weak property market, erratic global demand for China's exports and fears of a collapse in its wild stock market. More »

  • China passes national security law: officials
    China passes national security law: officials 2 hours 6 minutes ago

    China's rubber-stamp legislature passed a wide-ranging new national security law Wednesday, officials said, as concerns grow that Beijing is enforcing ever-tighter limits on rights. More »

  • Hong Kong protest march seeks unity as lower turnout expected
    Hong Kong protest march seeks unity as lower turnout expected 2 hours 9 minutes ago

    Thousands are set to gather for a pro-democracy march on the anniversary of Hong Kong's handover to China Wednesday, but organisers said turnout at the annual event would be down as momentum wanes after nearly a year of rallies. More »

  • China adopts new law to make networks, systems "controllable"
    China adopts new law to make networks, systems "controllable" 2 hours 23 minutes ago

    China's legislature adopted a national security law on Wednesday that will enable authorities to "take all necessary" measures to safeguard territorial sovereignty and ensure full control over the country's Internet infrastructure. A core component of the law, passed by the standing committee of the National People's Congress, is making all key network infrastructure and information systems "secure and controllable", in a move that will be a cause of worry for foreign technology firms. President Xi Jinping, who heads a newly established national security commission, has said China's security covers a wide range of areas, including culture, politics, the military, the economy, technology and the environment. More »

  • World Bank warns China over state financial control
    World Bank warns China over state financial control 2 hours 39 minutes ago

    China's three-decade economic boom, which has transformed cities such as Shanghai, is at risk, the World Bank warns, urging reform of state-dominated financial sector More »

  • Hong Kong expects large pro-democracy rally as it marks 1997 handover
    Hong Kong expects large pro-democracy rally as it marks 1997 handover 3 hours ago

    By Donny Kwok HONG KONG (Reuters) - Some seven months after Hong Kong police forcibly cleared pro-democracy street protesters from the streets, tens of thousands of people are expected to rally for free elections on Wednesday as the city marks the 18th anniversary of its return to China. Security was tight at an early morning flag-raising ceremony attended by senior Hong Kong and Chinese officials, with helicopter fly-bys and the playing of China's national anthem. There were no disruptions from pro-democracy protesters although at least one activist was barred entry to the ceremony that was attended by hundreds of pro-Beijing supporters waving China flags. More »

  • Robinho leaves Santos, expected to join Guangzhou
    Robinho leaves Santos, expected to join Guangzhou 3 hours ago

    (Reuters) - Brazil forward Robinho ended his third spell at Santos on Tuesday with local media reporting he was set to join up with former Selecao coach Luiz Felipe Scolari at Chinese champions Guangzhou Evergrande. The 31-year-old former Real Madrid, Manchester City and AC Milan attacker, known for his elaborate stepovers, said he was hopeful of returning to Santos in the future after the club said they could not afford to match the offers from overseas. More »

  • China June factory activity shrinks at slower pace, but job cuts mount - HSBC/Markit … 3 hours ago

    China’s factory activity contracted for the fourth straight month in June but at a slower pace than in May, a private survey showed on Wednesday, offering signs that the economy may be slowly levelling out but is still in need of more support measures. The HSBC/Markit Flash China Manufacturing Purchasing Managers’ Index (PMI) edged up to 49.4 from 49.2 in May, but it was below a preliminary reading of 49.6, and remained under the 50 mark which separates contraction from expansion. After three months of falls, new orders returned to positive territory, but only just with a reading of 50.3, while new export orders also picked up from May. But factories were forced to discount prices for their products at a faster rate as demand remained sluggish, and firms cut staff levels at the sharpest pace since February 2009, a trend sure to alarm leaders in Beijing. More »

  • South Korea June PMI falls for fourth month to near three-year low - survey 3 hours ago

    South Korea's manufacturing activity shrank in June for a fourth consecutive month and by the fastest pace in nearly three years, a private survey showed on Wednesday, adding urgency to Seoul's efforts to pump-prime a sputtering economy with fresh stimulus. The Nikkei/Markit purchasing managers' index (PMI) on South Korea's manufacturing sector slid to a seasonally adjusted 46.1 in June - the lowest since 45.7 in September 2012 - from 47.8 in May, Markit Economics said in a statement. A sub-index for new export orders during the month edged down to 47.6 in June from 47.9 in May, also the fourth straight month of contraction that underlined the impact of weak global demand as growth slows in Korea's main market China. More »

  • South Korea June exports fall for sixth month, government stimulus looms 3 hours ago

    By Christine Kim SEOUL (Reuters) - South Korean exports fell for a sixth straight month in June, ramping up pressure on policymakers as they scramble to inject billions of dollars worth of fresh stimulus into an economy reeling from a one-two punch of weak consumer spending and slack global demand. The ministry said trade conditions in the second half of 2015 are expected to improve with new car and handset model releases, but exports face external risks from China and the euro zone. "We'll keep seeing falls in exports throughout the third quarter which will be inevitable due to the debt crisis in Greece and sluggishness in China," said Park Sang-hyun, chief economist at HI Investment & Securities. More »

  • Canada approves Cirque du Soleil sale to US, Chinese investors
    Canada approves Cirque du Soleil sale to US, Chinese investors 4 hours ago

    Cirque du Soleil artists perform during the press preview of their latest show "Amaluna" in Madrid on May 5, 2015 More »

  • China June services PMI rises to 53.8 from 53.2 in May
    China June services PMI rises to 53.8 from 53.2 in May 4 hours ago

    The non-manufacturing Purchasing Managers' Index (PMI) rose to 53.8 from May's 53.2, the National Bureau of Statistics said on its website. Growth in China's services companies has been more resilient than at its ailing factories, but the sector had shown signs of succumbing to the broader economic cooldown in recent months. More »

  • Canadian government approves Cirque du Soleil sale 6 hours ago

    The Canadian government has approved the sale of Cirque du Soleil to a group headed by a U.S. private equity firm and its Chinese partners. Industry Minister James Moore said Tuesday the application to ... More »

  • Xiaomi takes first big step outside Asia with Brazil smartphone
    Xiaomi takes first big step outside Asia with Brazil smartphone 7 hours ago

    By Brad Haynes SAO PAULO (Reuters) - Chinese smartphone maker Xiaomi has started making devices in Brazil for sale locally, promising to dramatically undercut rivals on price in the first big step beyond Asia for the world's most valuable technology start-up. Xiaomi's global vice-president, Hugo Barra, said in an interview on Tuesday that Brazil was "stage one of our Latin America launch," pointing to Mexico and Colombia as logical next steps in the region, although he declined to say when. "We offer high-quality products at incredibly aggressive prices, so we're starting with larger developing markets where people are very price-sensitive," Barra told Reuters. More »

  • Taiwan youth to China - Treat us like a country
    Taiwan youth to China - Treat us like a country 8 hours ago

    By Michael Gold TAIPEI (Reuters) - Young Taiwan activists have tied themselves up in chains, blocked mountain roads, scaled fences and thrown red paint balloons in a wave of anti-China sentiment likely to turn the island's politics on its head in January's presidential election. An energetic and fast-growing youth movement, united in suspicion of economic and cultural dependence on China, is expected to sweep in a president from a party which favours independence from China, something Communist Party rulers across the narrow Taiwan Strait will never allow. "When my generation comes of age, Taiwan's cross-strait attitude is going to be very different," said student movement leader Huang Yen-ju. More »

  • China announces climate target for Paris deal
    China announces climate target for Paris deal 9 hours ago

    PARIS (AP) — Top carbon polluter China confirmed it will try to cap its rising emissions before 2030 while the U.S. and Brazil pledged to boost renewable energy sources in a series of announcements Tuesday in anticipation of a global climate pact in Paris. More »

  • Stressed Bouchard has no regrets 10 hours ago

    By Ed Osmond LONDON (Reuters) - Eugenie Bouchard was brutally honest after suffering a first-round defeat by China's Duan Yingying at Wimbledon on Tuesday to end her hopes of repeating last year's run to the final. The Canadian 12th seed, crushed by Petra Kvitova in last year's showpiece, was beaten 7-6(3) 6-4 on Court Three. Since reaching the Australian Open quarter-finals in January she has suffered eight first-round defeats and was further hampered by a stomach injury against Duan. More »

  • Airbus plans to open A330 China plant, upbeat on output -CEO
    Airbus plans to open A330 China plant, upbeat on output -CEO 11 hours ago

    Airbus plans to build a second plant in China after winning an order for at least 45 jets that underpins its production goals for the wide-body A330, chief executive Fabrice Bregier said on Tuesday. Airbus has been negotiating for about 18 months to establish an A330 'cabin completion centre' in China alongside an existing final assembly plant for smaller A320 jets in Tianjin. An agreement to build a plant capable of fitting out 2 A330s a month is expected to be signed during a visit to Toulouse by Chinese Prime Minister Li Keqiang on Thursday. More »

  • China PM kicks off France visit with climate pledge, Airbus deal
    China PM kicks off France visit with climate pledge, Airbus deal 11 hours ago

    China's Prime Minister Li Keqiang made a long-awaited pledge to curb carbon emissions during a trip to France Tuesday in which a Chinese company also inked an $18 billion (16.1 billion euros) deal with Airbus. More »

  • French PM hopes for "fruitful" talks on Greek proposals 12 hours ago

    PARIS (Reuters) - French Prime Minister Manuel Valls said on Tuesday that he hoped ongoing euro zone finance ministers' talks on proposals to end the Greek debt crisis would be "fruitful." "We continue to think that an agreement is possible," Valls said at a press conference with his Chinese counterpart. "Greece's government has indeed sent a letter this afternoon in which it formulates proposals. These proposals are currently being studied in Brussels and a Eurogroup is currently in session. ... More »

  • Airbus inks $18 bn deal to sell China 75 A330s
    Airbus inks $18 bn deal to sell China 75 A330s 12 hours ago

    Airbus inked a deal to sell up to 75 of its A330 planes to China Aviation Supplies Holding Company More »

  • Airbus inks $18 billion deal to sell China 75 A330s
    Airbus inks $18 billion deal to sell China 75 A330s 12 hours ago

    Airbus inked a deal to sell up to 75 of its A330 planes to China Aviation Supplies Holding Company More »

  • China sets CO2 target, garners praise
    China sets CO2 target, garners praise 13 hours ago

    China, the world's top CO2 polluter, promised Tuesday to peak emissions within about 15 years, in a move widely hailed as a boost for the global effort to curb planet warming. More »

  • China says probe of FIBA official won't affect Olympic bid 13 hours ago

    BEIJING (AP) — An official says Beijing's 2022 Winter Olympic bid won't be affected by the investigation of a Chinese member of basketball's international governing body for possible corruption. More »

  • Major powers, Iran extend interim deal to July 7 for more talks 14 hours ago

    Six major powers and Iran have decided to extend an interim nuclear agreement until July 7 to allow more time for negotiations on a final deal, the United States said on Tuesday the deadline for a long-term accord. "The P5+1 and Iran have decided to extend the measures under the Joint Plan of Action until July 7 to allow more time for negotiations to reach a long-term solution ... on the Iran nuclear issue," Marie Harf, senior adviser for strategic communications at the U.S. State Department, said, The so-called "P5+1" are the six major powers negotiating with Iran - Britain, China, France, Germany, Russia and the United States. More »

  • Factbox: A guide to nuclear talks between Iran and six major powers 14 hours ago

    Iran and six world powers - the United States, Britain, France, Germany, Russia and China - are in what may be the final phase of negotiations aimed at securing a deal on sanctions relief in exchange for limits on Iranian nuclear activities. BACKGROUND The nuclear standoff between Iran and the West goes back to at least 2002, when a group of Iranian exiles revealed undeclared Iranian nuclear facilities in Iran. The International Atomic Energy Agency (IAEA) later confirmed that they were a uranium enrichment plant at Natanz and a heavy-water production plant at Arak. More »

  • Aboriginal experience inspires artist Abramovic decades on
    Aboriginal experience inspires artist Abramovic decades on 14 hours ago

    Performance artist Marina Abramovic is known for putting her body on the line -- from cutting herself, to walking thousands of kilometres along China's Great Wall, to having a loaded gun pointed at her head. More »

  • China climate target to include carbon intensity goal 15 hours ago

    China says it will pledge to reduce the intensity of its carbon emissions as part of its climate target for an envisioned international agreement to fight global warming. In a statement released Tuesday ... More »

  • Nokia signs 3G deal with Bharti Airtel to cover big Indian states
    Nokia signs 3G deal with Bharti Airtel to cover big Indian states 16 hours ago

    MUMBAI/FRANKFURT (Reuters) - Network equipment maker Nokia has signed up India's largest mobile operator Bharti Airtel to supply it with 3G wireless network gear covering some of the most populous regions in India, the Finnish company said on Tuesday. Nokia Networks said it will supply radio antennas, hardware, software and network management and planning services for five large areas of India, as well as network expansion in three sub-regions where the two companies had existing contracts, or eight out of India's 22 telecom sub-regions. The Asia-Pacific region outside China represented one-third of Nokia's Network worldwide business sales of 2.67 billion euros ($3 billion) during the first quarter of 2015, making it the largest contributor to the company's results. More »

  • Chinese student faces prosecution in China for killing in US 17 hours ago

    IOWA CITY, Iowa (AP) — Chinese authorities have arrested a former University of Iowa student in southeastern China and say they will prosecute him in the killing of his girlfriend in Iowa, where her body was found stuffed into the truck of her car, police said. More »

  • Chinese student faces prosecution in China for Iowa slaying 17 hours ago

    IOWA CITY, Iowa (AP) — Chinese authorities have arrested a former University of Iowa student in southeastern China and say they will prosecute him in the slaying of his girlfriend in Iowa, where her body was found stuffed into the truck of her car, Iowa City police said. More »