Huang Yiping News
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China, the world’s second-largest economy, will open its markets and allow its currency to float within five years, said Charles Li, chief executive officer of Hong Kong Exchanges & Clearing Ltd.
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China’s services industries grew at the fastest pace since August as gains in retailing and construction aid government efforts to drive a recovery in the world’s second-biggest economy.
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China’s services industries grew at the fastest pace since August as gains in retailing and construction aid government efforts to drive a recovery in the world’s second-biggest economy.
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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.
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China last year had the biggest deficit in its financial and capital account since records began in 1982 as the domestic and global economies slowed, spurring outflows of funds.
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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.
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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.
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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.
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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.
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Chinese housing data may show prices in the nation’s four biggest cities are falling as Premier Wen Jiabao pledges to maintain a one-and-a-half year battle to lower prices to a “reasonable” level.
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