China Premier Li Keqiang said local governments should stop directly investing in or setting up companies “in principle,” according to comments released a day before leaders gather to discuss economic policy.
Citic Metal Co., a unit of Chinese state-backed conglomerate Citic Group Corp., joined China Minmetals Corp. in bidding for Glencore Xstrata Plc’s copper project in Peru, said two people with knowledge of the matter.
Ian Chen recalls his father quietly accepting he could no longer wade into a lake near their home in southern China where he’d swum his whole life. The raw sewage and agricultural waste spilling into the water meant it wasn’t safe anymore.
Cosco Shipping Co., a listed unit of China’s biggest shipping group, said first-half net loss tripled, the latest sign that slowing growth in the world’s second-biggest economy is eroding corporate earnings.