China's exports unexpectedly fell 6.4 percent in April from a year earlier, while imports tumbled by a deeper-than-forecast 16.2 percent, fueling expectations that Beijing will quickly roll out more stimulus to avert a sharper economic slowdown.
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China's central bank cut its benchmark interest rate on Sunday for the third time since November, as economic growth cools to levels not seen since the global financial crisis.
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China's trade position is expected to improve in the second half the year, the country's Commerce Ministry said, playing down concern sparked by recent dismal trade figures.
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When Alibaba Group Holding Ltd's (BABA.N) eccentric founder Jack Ma stepped down as CEO two years ago, he declared "the Internet belongs to young people," and promised that most of the company's leaders born in the 1960s would soon retreat from management.
China's leaders, caught off guard by a sharp economic slowdown and worried about the risk of job losses, are likely to resort to fiscal stimulus to revive growth after a run of monetary policy easings proved less effective, policy insiders said.
China has put in place rules to protect private investors and expand opportunities in infrastructure and utility projects, the country's top planning agency said on Tuesday, as the government seeks help revitalizing a stuttering economy.
China's factories suffered their fastest drop in activity in a year in April as new orders shrank, a private business survey showed on Monday, hardening the case for fresh stimulus measures to halt a slowdown in the world's second-largest economy.
China's cabinet unveiled new measures on Friday to boost employment, offering more flexible tax breaks to companies to hire the jobless, preferential loans and incentives for farmers and new graduates.
China's factories stayed stuck in the slow lane in April while Japanese output went into reverse and South Korea suffered its worst export performance in two years, adding urgency to calls for more state stimulus in all three economies.
Beijing authorities have fined U.S.-based J.R. Simplot's China processing unit, which supplies frozen french fries to McDonald's Corp, 3.92 million yuan ($632,370) for water pollution, state media and Simplot said.
China's top two trainmakers have been in discussions with Bombardier Inc (BBDb.TO) about possibly buying a controlling stake in the Canadian company's railway unit, two sources with direct knowledge of the matter said.
China's biggest lender by assets, Industrial and Commercial Bank of China, said on Wednesday it had signed an infrastructure pact worth $2 billion with the oil-rich west African nation of Equatorial Guinea.
