Coolpad Group Ltd. is counting on its new online store to help sell 20 million smartphones this year and push the Chinese company past Lenovo Group Ltd. as the No. 2 seller in the biggest wireless market.
Chinese banks’ bad loans increased for the ninth straight quarter to the highest level since the 2008 financial crisis, highlighting pressures on asset quality and profit growth as the world’s second-largest economy slows.
China’s eleventh-hour rescue of wealthy investors in a high-yield trust threatens to drive more money into the nation’s $6 trillion shadow-banking industry, undermining regulators’ efforts to deter excessive risk-taking.
China’s interest-rate swaps jumped the most in three years last month on speculation the central bank will raise borrowing costs further to rein in the fastest inflation since 2008 as foreign capital surges into the nation.
China Wireless Technologies Ltd., the nation’s third-largest smartphone vendor, said it will eventually overtake market leaders Samsung Electronics Co. and Lenovo Group Ltd., helped by demand for low-cost phones.
The People’s Bank of China sold one- year bills at an unchanged yield for the first time in three weeks, seeking to ease a shortage of funds and damp speculation of an imminent increase in benchmark interest rates.