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  • Drawing foreign funds

    China to start allowing capital transactions in economic zones

    BEIJING -- China's State Council aims to start liberalizing yuan-denominated capital transactions in the country's special economic zones to help revive slowing foreign investment. The council issued a statement Friday regarding the development

    November 22, 2014 07:20 am JST
  • Garment industry shift

    Vietnam emerges as next big factory floor

    TOKYO/YANGON -- Cost-sensitive garment businesses around the world increasingly regard Vietnam as a top choice for production, in anticipation of a trans-Pacific trade deal that would eliminate tariffs on clothes entering the U.S. A factory esta

    November 22, 2014 06:41 am JST
  • Cash crunch

    China injects 50 billion yuan into banks

    SHANGHAI -- The central bank apparently pumped about 50 billion yuan ($8.16 billion) into state-owned banks Friday to combat rising short rates caused by a rush of initial public offerings. The People's Bank of China injected cash through a shor

    November 22, 2014 05:48 am JST
  • US bond sales

    Alibaba issues $8B in corporate bonds

    NEW YORK -- Alibaba Group Holding issued $8 billion in corporate bonds here Thursday, one of the largest single issuances of dollar-denominated bonds by an Asian company. The Chinese e-commerce giant issued two $2.25 billion portions, one in fiv

    November 22, 2014 05:26 am JST
  • Balancing act

    Chinese rate cut to amp up businesses, housing -- but how much?

    BEIJING -- The People's Bank of China will walk a fine line between boosting the sluggish real estate market and preventing a bubble following its move to lower interest rates for the first time in more than two years. China abolished the floor

    November 22, 2014 05:23 am JST
  • Economic slowdown

    China cuts interest rates

    BEIJING -- China's central bank said Friday that it will lower interest rates for the first time since July 2012, in a move to underpin the country's slowing economy. The People's Bank of China is cutting one-year lending rates to 5.6% from 6%,

    November 22, 2014 04:33 am JST
  • China auto demand

    Kobe Steel to deepen ties with Austria's voestalpine

    TOKYO -- Japan's Kobe Steel will supply steel sheet to an autoparts factory being built in China by the Austrian steelmaker voestalpine, in a partnership aimed at meeting surging demand. The two steelmakers had entered a technological tie-up in

    November 22, 2014 02:50 am JST
  • Lithium-ion batteries

    Marubeni sells US electrode carbons in Asia

    TOKYO -- Japanese trading house Marubeni has broadened its battery business, selling advanced electrode materials for use in lithium-ion batteries to battery manufacturers in South Korea and China. The materials come from EnerG2, based in Seattl

    November 22, 2014 01:17 am JST
  • China finance

    Central bank cuts interest to counter slowdown

    BANGKOK -- China's central bank announced on Friday evening that it is cutting its benchmark interest rates as of Nov. 22. The central bank has not stepped in to cut rates since July 2012, but the world's second largest economy has recently been

    November 21, 2014 09:48 pm JST
  • China's monopolies grow

    Corporate titans may hobble economic reform

    BANGKOK -- Industry consolidation in China is leading to an increased number of companies that control as much as 80% of their markets. While the government is clamping down on antitrust violations by foreign companies, it turns a blind eye when

    November 21, 2014 01:00 pm JST
  • Guangzhou auto show

    Carmakers see 3 keys to survival in China

    GUANGZHOU, China -- Automakers are adapting to tightening regulations and a changing market in China by emphasizing smaller cars along with luxury vehicles and SUVs. The Guangzhou auto show kicked off Thursday, featuring 1,095 models including 5

    November 21, 2014 06:11 am JST
  • Remote island defense

    Japan pushes up landing vehicle purchases by 2 years

    TOKYO -- Japan's Defense Ministry plans to acquire 30 amphibious vehicles in fiscal 2015 and 22 the year after, two years earlier than planned, to beef up the defense of remote islands amid rising tensions in the East China Sea. The vehicles are

    November 21, 2014 04:05 am JST
  • Asia's ultrarich

    Region's wealthy population seen topping Europe's in 2027

    SINGAPORE -- Asia's population of ultrarich individuals -- people with net assets of at least $30 million -- is expected to exceed that of Europe in 2027, according to a report compiled by research company Wealth-X and investment bank UBS. Growt

    November 20, 2014 07:28 pm JST
  • Shadow banking

    Reining in China's unofficial investments won't be easy

    SHANGHAI -- The Chinese government urgently needs to tackle the country's rampant shadow banking problem, but remedying the situation could create almost as many risks as doing nothing. The term shadow banking covers transactions conducted by in

    November 20, 2014 07:00 pm JST
  • P2P lending

    High returns drive Chinese risk taking

    BEIJING -- Since May, Wei Limeng has made more than 7,500 yuan ($1,224) by lending money to cash-hungry small companies through the peer-to-peer lending platform The typical loan listed on the site for would-be lenders matures in

    November 20, 2014 07:00 pm JST
  • Washington, the AIIB and Taiwan

    US not fighting China-backed fund, senior official says

    TAIPEI -- Striking a reconciliatory tone, a senior U.S. diplomat said Thursday that Washington is not trying to undermine Chinese efforts to create a fund aimed at helping develop infrastructure in Asia. The statement by Kurt Tong, U.S. principl

    November 20, 2014 06:00 pm JST
  • New low-cost manufacturers

    US, Mexico identified as increasingly competitive

    TOKYO -- The U.S. and Mexico have emerged as new low-cost manufacturing economies, but Brazil and other emerging nations have seen their cost competitiveness decline, according to a report by the Boston Consulting Group. The U.S.-based cons

    November 20, 2014 01:00 pm JST
  • Xiaomi's content push

    Smartphone star buying into search giant's video-streaming unit

    BEIJING -- Chinese smartphone manufacturer Xiaomi will invest 1.8 billion yuan ($294 million) in a video-streaming operation of search engine compatriot Baidu, with plans for developing content together. Xiaomi and a group investment fund plan t

    November 20, 2014 06:59 am JST
  • Chinese listing standards

    Relaxed rules to boost smaller companies

    SHANGHAI -- China's State Council decided Wednesday to ease the requirements for companies going public in order to support the growth of small and midsize enterprises. Companies used to have to log net profits for several years before they coul

    November 20, 2014 06:25 am JST
  • Offshore intruders

    Japan steps up patrols against coral poachers

    TOKYO -- Japan's coast guard plans to bolster its crackdown on foreign ships, believed to belong to Chinese coral poachers, in Japan's southern waters around the Ogasawara Islands. The foreign vessels have been gathering in entire flotillas. The

    November 20, 2014 04:10 am JST