Chinese Premier Li Keqiang pledged to open the economy to more market forces and strip power from the government to achieve 7.5 percent annual growth through 2020 and spread the benefits of the nation’s expansion.
China called for higher down payments and interest rates for second-home mortgages in cities with “excessively fast” price gains and ordered stricter enforcement of taxes on sales as authorities step up a three- year campaign to cool the property market.
China International Capital Corp.’s chief economist Ha Jiming is leaving the Beijing-based investment bank to join Goldman Sachs Group Inc.’s investment banking division, the Wall Street Journal reported, citing people familiar with the situation.
China’s stocks rose the most in three months after new lending and money supply exceeded estimates in December, boosting speculation the government is relaxing monetary policies to bolster economic growth.
Asian stocks reversed losses as shares of Chinese lenders and developers rallied after China’s new lending and money supply increased. Exporters dropped after a Federal Reserve official said the central bank probably won’t begin a new round of bond purchases.
Shenzhen Jufeng Handicraft Co. was so eager to ensure employees returned to work after February’s Lunar New Year holiday that it threw them a party, handed out gifts and bused workers to homes 1,000 kilometers away.