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.
Apple Inc. is being outsold in China, the world’s largest handset market, by a company less than 1 percent its size, highlighting how the lack of low-cost products limits the iPhone-maker in emerging nations.
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.
The People’s Bank of China pushed up yields on one-year bills for the first time in four months, boosting returns to draw funds after rates for interbank loans surged to the highest level since August 2008.
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.
China’s finance ministry failed to draw enough demand at a bill sale for the first time since June, reflecting a shortage of cash at banks after policy makers raised their reserve requirements twice this month.
The premium investors demand to hold China’s corporate bonds rather than sovereign debt widened the most in two years last week on concern that central bank curbs on lending will cause trading in the securities to slow.