Zhang Dejiang News
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Sun Zhengcai, the youngest member of the Chinese Communist Party’s new Politburo, was appointed party boss of Chongqing, the southern Chinese municipality led by Bo Xilai until his ouster over a murder scandal.
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Emerging-market stocks fell, extending the benchmark’s biggest weekly decline since May, as escalating Middle East tensions and concern over the U.S. economy cut demand for riskier assets.
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China’s placement of a North Korean- educated economist and an exemplar of debt-fueled infrastructure on its ruling body may add to challenges for Communist Party leader Xi Jinping as he seeks to deepen the nation’s development.
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China’s stocks fell, dragging the CSI 300 Index to the lowest level since 2009, on concern the nation’s new leadership won’t accelerate economic reforms including reducing the dominance of state-owned enterprises.
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Xi Jinping replaced Hu Jintao as head of the Chinese Communist Party and the nation’s military, ushering in the fifth generation of leaders who are set to take control of the world’s second-biggest economy.
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China’s stocks fell, dragging the benchmark index to a seven-week low, as the ruling party named a new generation of leaders to oversee an economy that is forecast to grow this year at the slowest pace in more than a decade.
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China’s Communist Party announced the makeup of the new Politburo Standing Committee today. The panel, which was reduced to seven members from nine, is the most powerful decision-making body in China.
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Vice Premier Wang Qishan, China’s counterpart to U.S. Treasury Secretary Timothy Geithner, was named to the Communist Party’s discipline body as part of a once-a-decade leadership transition, indicating he won’t have a post directly overseeing the economy in the new government.
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China’s stocks climbed, led by material producers, after the ruling party’s once-in-a-decade meeting to choose new leaders drew to a close and the yuan rose to a 19-year high.
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Zhang Dejiang, who replaced Bo Xilai as the Communist Party Chief of Chongqing, said he’s unaware of when the ousted former member of the nation’s Politburo may be placed on trial.
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