Big Chinese cities have launched a new round of lending curbs and purchase restrictions in an effort to cool overheated property markets, as official media warn that some have veered towards a bubble.Sky-high prices in cities including Beijing, Shanghai, and Shenzhen are stoking anger, even among relatively well-off professionals.Meanwhile, controlling financial risk has emerged as the dominant economic policy theme for 2017. At the conclusion of the annual session of China’s rubber-stamp parliament last week, the government pledged to “contain excessive home price rises in hot markets”.On Zhi...
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The row between Seoul and Beijing over the deployment of a US missile defense system has seen China overtake even former colonizer Japan in the ranking of South Koreans’ least favored countries, a survey shows.Japan has consistently been Southerners’ most disliked country mainly due to disputes over Tokyo’s wartime atrocities including the use of up to 200,000 Korean women as sexual slaves for Japanese troops.But now South Korea and the US have begun deploying the Terminal High Altitude Area Defense (THAAD) system to guard against missile threats from the nuclear-armed North, infuriating China...
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2017
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SHANGHAI (Reuters) - IBM and a unit of China’s Dalian Wanda Group, a property and entertainment conglomerate, agreed on Sunday to team up to provide cloud services to Chinese companies, the U.S. technology provider said.Through a newly formed venture, Wanda Cloud Company, they will offer select IBM cloud infrastructure and platform as a service (IaaS and PaaS) technologies in China, IBM said.The venture between IBM and Wanda Internet Technology Group will be "responsible for distributing, building and operating the IBM cloud platform in China", an IBM spokeswoman said.In November, Al...
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2017
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Apple is to set up two more research and development (R&D) centers in Shanghai and Suzhou, following Beijing and Shenzhen.Apple has committed to invest 3.5 billion yuan (500 million U.S. dollars) in the centers, according to an announcement on the company website Friday.Apple’s growing engineering and operation teams in China will focus on cooperating with local partners, according to the announcement.Apple’s R&D centers in China will seek graduates of China’s leading universities including Peking University, Tsinghua University and Shanghai Jiao Tong University. Apple has been working...
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2017
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The central parity rate of the Chinese currency, the renminbi or the yuan, strengthened 253 basis points to 6.8862 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System.The U.S. Federal Reserve ended its two-day policy meeting on Wednesday by increasing interest rates, but stuck to its projection of three total rate hikes in 2017, instead of the four some had come to expect.The Fed’s key short-term rate is rising by a quarter-point to a still-low range of 0.75 percent to 1 percent. It said in a statement that a strengthening job market and rising prices had mov...
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2017
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