Dismayed by the millions of unsold homes in China's troubled real estate market, the Chinese government is taking matters into its own hands: by buying some properties and turning them into public housing. Like a white knight riding to the rescue of distressed developers, a handful of local governments are snapping up thousands of empty homes at hefty discounts and re-selling them to the country's poorest households.
China
China state-owned margin lender returns market-steadying funds early
The China Securities Financial Corporation (CSFC) has returned ahead of schedule some of the funds it borrowed from commercial banks to stabilize the stock market, three people in the banking industry with direct knowledge told Reuters.
Walmart takes full ownership of e-commerce site Yihaodian in China
Walmart is buying 49 percent of Yihaodian's stake, an e-commerce website based in China. This is part of Walmart's fundamental plan to distribute its products to Chinese consumers through its online service.
ZTE launched Axon Smart Watch in China
ZTE, a Chinese mobile device company announced the launching of the Axon Watch in Water Cube Beijing, China. The first smart watch from ZTE can track your health data, including the heart rate. The watch had passed the IP67 certification, which means it is tested to be water resistant.
Unilever teamed up with Alibaba to penetrate e-commerce in China
Alibaba Group Holdings Ltd, the leading Chinese e-commerce corporation has declared a tie-up with Unilever NV, the well-known provider of personal care, home and food products, to grant Chinese consumers the majority of its quality products from around the world.
Latest News
China's stock markets may be facing a make-or-break week after officials rolled out an unprecedented series of steps at the weekend to prevent a full-blown stock market crash that could threaten the world's second-largest economy.
China froze share offers and set up a market-stabilization fund on Saturday, the Wall Street Journal said, as Beijing intensified efforts to pull stock markets out of a nose-dive that is threatening the world's second-largest economy.
China's top securities brokerages said on Saturday that they would collectively buy at least 120 billion yuan ($19.3 billion of shares in a bid to stabilize the country's stock markets after a slump of nearly 30 percent since mid-June.
China's response to wild swings in its stock markets risks an embarrassing setback to the country's push to internationalize its financial system, according to investors.
A senior U.S. official told China on Friday that its legal imports of ivory act as a loophole for illegal traders, and that it needs to understand the importance of wildlife NGOs.
China stocks fell sharply again on Thursday, fighting off fresh moves by regulators to restore confidence and raising questions about how much more firepower Beijing can bring to bear before a full-scale panic sets in.
China's stock markets closed sharply lower on Monday after a frantically volatile day of trading, despite surprise monetary easing moves by the central bank at the weekend.
One of China's biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank (AIIB) in Beijing.
China's central bank cut lending rates for the fourth time since November and trimmed the amount of cash that some banks must hold as reserves, stepping up efforts to support an economy that is headed for its poorest performance in a quarter century.
