China, as part of a wider drive into progressive industries to boost its GDP growth, plans to combine over 40 entities to work on the giant $22 billion plane-engine project. Under the plan, the government of China along with companies like Aviation Industry Corp. would invest 35 billion yuan.
China
Survey: U.S Companies Reported Tough Times Doing Business in China, With Growing Concerns Over Regulations and Economy Growth, Among Other Factors
The survey revealed that one of the top concerns defining most U.S companies' tough times doing business in China is uncertain regulations that they perceived as unwelcoming to foreign companies. The slowing of China's economic growth also remains a concern, along with rising labor costs, censorship, and air pollution. However, China is still most foreign countries' investment priority among other markets.
A 10% decrease in China air pollution noted over previous year, Greenpeace reports confirmed
Amidst intense smog, China still came out with a 10% decrease in air pollution in 2015. The numbers indicate a direct fall in the consumption of coal. However, despite the small improvement, the situation is still pretty grim as the country, which is home to a host of coal power plants, has now taken the top spot for emitting greenhouse gases. The 'red-alert' situation this winter should be a wake-up call for the government to now take drastic measures to curb the sources of air pollutants.
South Korean Won retreats from 5-year low
South Korean currency Won has been volatile as it hit five-year low and recovered marginally. Won was tracking to Chinese currency Yuan as the dragon country is the major foreign market for South Korea. China's GDP rose 6.8 percent during fourth quarter marginally lower than the forecast of 6.9 percent. This disappointed the market.
Chinese Venture Capital Cocoon Networks Open a $700M Fund in London
Cocoon Networks, a Chinese-backed venture capital group is setting up a £500 ($700) million fund in London. The fund is aimed to invest in European tech startups.
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Chevron said that its subsidiaries in Australia have entered into a non-binding Heads of Agreement with ENN LNG Trading Co. Ltd to sell liquefied natural gas to China. The delivery of LNG will be commenced in the first six-month of 2019, according to the company.
China grew 6.9 percent in 2015 indicating the slowest growth rate in 25 years. The growth rate was 6.8 for the fourth quarter of 2015. The world's second largest country recorded 7.3 percent growth rate in 2014. Investors are cautious about the impact of slowdown in China's economy. IMF forecasts China's economy growth rate at 6.3 percent in 2016 and six percent in 2017. Chinese government has set a target of seven percent growth for 2016.
China is set to report its weakest full-year growth figure in 25 years. The official GDP data will be published by China’s National Bereau of Statistics on Tuesday.
Venture capitalist poured a total of $37 billion worth of funds to start-ups in China in 2015, making it the biggest challenger to the leader in the Tech industry, which is the US.
Nickel and copper lead the gains on the London Metal Exchange as Chinese equity market gained, which calmed concerns over financial turmoil in the world’s second largest economy.
The authorities expect more easing measures to help reducing home inventory excess. Developers are also encouraged to change marketing rules and reduce home prices as China's property investment growth hit the lowest rate since 2009.
The company is accused of commercialization in the form of selling its forum's management and altering search results to show paying-websites. Last year, Baidu also faced punishment over pornography and violations of publishing regulations.
China will release its economic growth data on Tuesday, and most financial institutions are expecting the slowest expansion rate since 1990.
Chairman of China Securities Regulatory Commission (CSRC) was reported to offer his resignation. Xiao Gang handed his resignation last week following a failure in executing circuit breaker system in China stock markets.
