China’s small businesses continue to face difficulty getting loans as lenders view them as risky, Xinhua News Agency reported, citing the chief engineer of the Ministry of Industry and Information Technology.
Huaneng Power International Inc.’s U.S.-listed stock is trading at the biggest discount in four months versus Hong Kong, where the stock surged yesterday on prospects an economic rebound will lift electricity consumption.
Investors increased bullish bets on China’s currency, pushing yuan forwards to a five-month high, on prospects rising industrial output will help the world’s second- biggest economy meet its growth target this year.
China’s manufacturing expanded for the first time in three months as output and new orders climbed, adding to signs growth in the world’s second-biggest economy is rebounding after a seven-quarter slowdown.
China won’t use rare earths as a bargaining chip, said Zhu Hongren, chief engineer of the Ministry of Industry and Information Technology. Zhu said China’s rare-earth exports account for 90 percent of the world total, he said at a briefing in Beijing.
Agricultural Bank of China Ltd., the nation’s third-largest lender by assets, posted a larger-than- estimated 16 percent jump in quarterly profit on higher lending and fee income and improved asset quality.