China's long-awaited international payment system to process cross-border yuan transactions is ready, and may be launched as early as September or October, three sources with direct knowledge of the matter told Reuters.
Asia/Pacific
China's SAIC Motor, Alibaba to invest $160 million in Internet-connected cars
Chinese auto maker SAIC Motor Corp Ltd said on Thursday it would join forces with e-commerce giant Alibaba Group Holding Ltd to invest 1 billion yuan ($160 million) in a fund to develop Internet-connected cars.
China economic data weaker than expected, fuels policy easing bets
Growth in China's investment, retail sales and factory output all missed forecasts in January and February and fell to multi-year lows, leaving investors with little doubt that the economy is still losing steam and in need of further support measures.
Samsung Electronics raises production target for new Galaxy phones: Electronic Times
South Korea's Samsung Electronics Co Ltd has raised its production target for the new flagship Galaxy smartphones following positive market reception, the Electronic Times newspaper reported on Wednesday.
Asia stocks fall as risk aversion prevails, dollar soars
Asian stocks fell to a two-month low on Wednesday as nervous markets recoiled on worries about an earlier U.S. interest rate hike, while such a prospect helped send the dollar to a 12-year high against the euro.
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High-end electric vehicle maker Tesla Motors Inc (TSLA.O) on Monday said it is cutting jobs in China under a restructuring plan launched earlier this year, after missing a sales target in the world's biggest car market.
China hopes to finish talks on creating an Asian free-trade bloc estimated to cover 28 percent of the world economy by the end of this year, the country's trade minister said on Saturday.
Japan's Hitachi (6501.T) will pay Finmeccanica (SIFI.MI) 9.5 euros for each share in the Italian firm's rail business Ansaldo STS after a dividend distribution adjustment to a previously agreed deal, the companies said in a joint statement on Friday.
China should remain flexible on M2 growth expectations and not be overly concerned about meeting numerical targets, People's Bank of China chief Zhou Xiaochuan told a news conference, the official Shanghai Securities News reported.
FamilyMart Co Ltd (8028.T) and UNY Group Holdings Co Ltd (8270.T) said on Friday they were considering a merger that would create Japan's second-biggest convenience store chain, rivaling industry leader Seven-Eleven Japan.
As China signs global deals to export its nuclear power technology, it faces a huge obstacle: it still needs to show it can build and safely operate these reactors at home.
China's Fosun International (0656.HK) has bought a 5 percent stake in Thomas Cook Group (TCG.L), deepening its foray into Europe's tourism sector and potentially helping the British company to compete with travel leviathan TUI Group (TUIT.L)
Revised fourth-quarter Japanese data on Monday is likely to show capital spending was slightly stronger than expected, but overall economic growth was little changed from initial estimates, confirming the economy only managed to limp out of recession.
China will boost efforts this year to rid itself of a strong addiction to coal in a bid to reduce damaging pollution as well as cut the energy intensity of its economy, which is expected to grow at its lowest rate in 25 years.
