Inner Mongolia News
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China said it will encourage foreign investment in vehicle manufacturing in its western region, reversing a policy to remove automaking from a list of industries qualifying for government incentives.
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China Mengniu Dairy Co., the country’s largest dairy producer, agreed to buy 26.9 percent of China Modern Dairy Holdings Ltd. for HK$3.18 billion ($409 million) to gain greater control of milk supplies amid food safety concerns in the country.
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Growth in Chinese industrial companies’ profits slowed in March, adding to evidence the nation’s economic recovery is losing steam.
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For border officials in Hong Kong, baby formula trumps heroin.
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China Longyuan Power Group Corp., the nation’s biggest wind-farm developer, reported a 13 percent gain in first-quarter earnings as wind-power generation rose.
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China’s stocks declined, led by insurers, after an April 20 quake in Sichuan province that killed at least 186 people.
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China’s stocks rose the most in a month after companies from Qingdao Haier Co. to Northeast Securities Co. reported higher profit and a government economist forecast growth will rebound this year.
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Asian stocks fell, with Japan’s Topix Index falling the most since March 2011, after a survey of sentiment among the country’s largest manufacturers missed estimates and an official gauge of China’s factory output expanded at a slower-than-expected pace.
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Chinese stocks fell from a two-week high as declines by phone stocks overshadowed higher-than- estimated profit from China Construction Bank Corp.
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China’s Inner Mongolia Autonomous Region said it will take measures to improve the mining industry, part of new rules following protests by ethnic Mongolians sparked when a coal truck ran over a herdsman.
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