08-09-2015, 06:29 PM
Good move indeed. But their local investors are inherently gamblers. Its a pressing problem for the prc govt. Its hard to educate these folks overnite into value investors...
(10-09-2015, 09:06 PM)CityFarmer Wrote: [ -> ]Those companies involved in auto sector in China, may be affected...
China auto sales down 2.98% in August: industry group
10 Sep 2015 17:23
[BEIJING] Car sales in China fell 2.98 per cent in August from a year ago, an industry group said Thursday, as concerns rise over slowing growth in the Chinese economy.
A total of 1.66 million vehicles were sold in the country last month, the China Association of Automobile Manufacturers (CAAM) said in a statement.
It was the fifth straight month the figure had declined, according to CAAM's data.
...
AFP
Source: Business Times Breaking News
(10-09-2015, 01:11 PM)greengiraffe Wrote: [ -> ]No hard landing for China, says Premier Li Keqiang
- GRACE ZHU
- DOW JONES
- SEPTEMBER 10, 2015 2:21PM
[b]China has the capacity to prevent its economy from a hard landing and to achieve major economic targets this year, Chinese Premier Li Keqiang said today in a speech at the World Economic Forum in the north-eastern city of Dalian.[/b]
The remarks came after China released a raft of weak economic data that suggest the world’s second-largest economy is grappling with growth momentum.
Economists worry that China may miss its growth target of around 7 per cent this year if there is no fresh stimulus measure to keep the economy growing.
“The Chinese economy will not have a hard landing,” Mr Li said.
He also said China would introduce a more proactive import policy to boost domestic demand.
This follows an earlier announcement from Beijing that it would accelerate major construction projects, allow more small companies to benefit from tax cuts, and encourage private capital to invest in key areas, among other measures.
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Global markets have been in turmoil for weeks on worries about slowing growth in China, a key driver of global expansion, wiping trillions off share prices. T
he panic has also hammered mainland Chinese markets, with Shanghai’s exchange plummeting after a debt-fuelled bubble burst.
China’s finance ministry gave no specific values for future spending. But it said that by the end of August the central government had already spent 96 per cent of its annual infrastructure investment budget.
To achieve China’s 2015 growth target of around seven per cent, the ministry said it would step up and improve a “proactive fiscal policy, finetune the measures in a timely manner and accelerate reforms that will help stabilise growth”.
Dow Jones Newswires, AFP
Quote:ECONOMIC MOVES REQUIRE CAREHis remarks echo those of People's Bank of China (PBOC) governor Zhou Xiaochuan, who said over the weekend the stock rout is close to ending and that state intervention stopped a free-fall.
We have plenty of tools at our disposal. You need to be careful with immediate moves you take... we need to take targeted measures to resist downward pressure on the economy; at the same time, we need to build momentum for sustainable and healthy economic growth.
MR LI KEQIANG, Chinese Premier