China Vanke Co., the nation’s biggest developer by market value traded on mainland exchanges, said full-year profit rose 21 percent as it sold more small and medium-sized homes that are less affected by government curbs.
Regulatory investigations of alleged currency-market collusion are probably contributing to a slump in volatility in major foreign-exchange markets, according to Steven Barrow, Standard Bank Plc’s head of Group-of-10 research.
China Galaxy Securities Co. plans to sell shares in Shanghai in what could be the nation’s biggest first-time stock offering this year after regulators ended a more than yearlong freeze on new listings.
China Eastern Airlines Corp., the nation’s third-largest airline, ordered $6.4 billion of single- aisle planes from Airbus Group NV to meet demand in a country set to become the world’s biggest aircraft market.
Sinovel Wind Group Co., a Chinese wind-turbine maker, plans to save as much as 2.63 billion yuan ($430 million) after canceling plans to build four wind manufacturing plants and scaling back three others.
China’s stocks dropped, sending the benchmark index to its biggest retreat in five months, amid speculation a weaker property market and falling currency will curb corporate earnings. The yuan sank the most since 2010.