Chinese carmaker BYD Co. may be getting some bad news as it prepares to start selling in the U.S. next year. A planned reduction in government subsidies and a phase-out of interest-rate controls threaten to raise costs for it and thousands of companies across China.
China’s services industries rebounded from the slowest expansion in at least 19 months, adding to manufacturing gains that indicate the world’s second-biggest economy is recovering from a seven-quarter slowdown.
China’s manufacturing job growth accelerated to the fastest pace in at least five years in the past three months, signaling more employers may be forced to follow Honda Motor Co. in offering higher wages.
Chinese stocks traded in the U.S. declined for a second week, dragged lower by energy and Internet companies, on speculation the government may maintain credit limits and curb fuel prices to keep inflation from accelerating.
Danny Deng and his bride-to-be dreamed of their lives together as they walked through the showroom for a Shanghai housing project almost three months ago. Pooling his own and his parents’ savings, a loan from his boss and a 1.1 million yuan ($172,000) mortgage, he bought an apartment and secured his fiancee’s hand.
Most Chinese policy makers agree that the yuan should rise in the long-run due to rapid productivity growth and structural imbalances, Huang Yiping, a professor of economics at Peking University’s China Center for Economic Research, wrote in a commentary published in today’s China Daily newspaper.
China’s long-term bonds are rallying for the first time in four months as a pickup in the economy gives new leaders scope to shun stimulus in favor of policies that will result in slower and more sustainable growth.