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The rich-poor divide continues to plague Chinese growth, but some have found a way to climb out of the poverty pit by unleashing their entrepreneurial spirit. Eunice Yoon reports.
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SYDNEY, May 22- The end of Australia's resources boom is taking its toll on investment in the sector, with A $150 billion in planned projects delayed or cancelled since April 2012, government data shows. China's economic slowdown has squashed a decade-long mining boom in Australia that drove gold, copper, iron ore and coal to record prices.
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SHANGHAI, May 22- China's yuan rose against the dollar on Wednesday, up from Tuesday's close but slightly short of the record intra-day high struck that day, as the central bank lets the currency appreciate further.
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The rich-poor divide continues to plague Chinese growth, but some have found a way to climb out of the poverty pit by unleashing their entrepreneurial spirit. Eunice Yoon reports.
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HONG KONG, May 22- China shares were headed for a sixth-straight daily gain on Wednesday, with most automakers strong after the official China Securities Journal cited an industrial association as saying that May car sales could stay strong.
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TOKYO, May 22- The Bank of Japan kept policy steady on Wednesday despite concerns over recent volatility in bond market, saying growth is starting to pick up even as risks loomed from an uncertain global outlook. BOJ Governor Haruhiko Kuroda will hold a news conference from 0630 GMT with his comments expected to come out any time after 0715 GMT.
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*Gold still trading near 2- year lows. SINGAPORE, May 22- Gold edged higher on Wednesday due to strong Chinese demand and after Federal Reserve officials allayed investor concerns that the U.S. central bank will soon exit its bullion-friendly bond purchases.
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CHENNAI, India, May 22- Brent futures pulled further below $104 per barrel on Wednesday on concerns that peak summer demand in the world's top oil consumer may falter after data showing a stronger-than-expected rise in U.S. oil stockpiles.
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*Coming Up; Fed's Bernanke testifies to Congress; 1400 GMT. SINGAPORE, May 22- London copper held near a two week-high on Wednesday, supported by indications the U.S. For that we need to see a resumption in demand, "analyst Dominic Schnider at UBS in Singapore said.
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SINGAPORE, May 22- London copper on Wednesday held below two week-highs hit the session before after Federal Reserve officials suggested the central bank would continue its bond-buying scheme. *Copper pushed to its highest since May 8 at $7,450 a tonne on Tuesday.
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TOKYO, May 22- The Bank of Japan may end up pursuing its massive monetary easing for up to five years before achieving inflation levels conducive to unwinding its aggressive stimulus, a Reuters poll of BOJ watchers suggests.
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TOKYO, May 22- Japan's exports rose less than expected in April from a year earlier due to weak demand from Europe and China, highlighting the challenges confronting the world's third-biggest economy as policymakers try to engineer a sustained revival.
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TOKYO, May 22- Japanese exports rose 3.8 percent in April from a year earlier, marking a second straight month of gains, Ministry of Finance data showed on Wednesday, in a sign that a weaker yen and a pickup in global demand are helping the export-reliant economy.
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Steven Schiller, Senior VP, Global Sweets & Refreshment introduces Hershey's new brand of milk candy in the mainland, called the Lancester in English, or Yo-Man in Mandarin.
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DETROIT, May 21- A boutique carmaker led by former General Motors Co executive Bob Lutz and China's largest auto parts supplier made an offer this month to buy cash-strapped "green" car company Fisker Automotive, people familiar with the matter said. VL Automotive and China's Wanxiang Group are looking to gain control of Fisker through a prepackaged bankruptcy.
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And a key negotiator for the European Union's Executive Commission, focus of anger from many other countries over its emissions trading scheme, said she hoped a road map towards a pact would be agreed by this autumn.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets. Traders remain focused firmly on tomorrow's testimony from Fed Chairman Ben Bernanke. And expectations for this week's oil inventories.
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NEW YORK, May 21- Crude oil futures ended lower on Tuesday, falling early as the dollar strengthened, then paring losses as the greenback weakened after a Federal Reserve official said he did not believe the U.S. central bank should pull back on its quantitative easing program.
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*EU says FTA with China would depend on concessions from Beijing. BRUSSELS, May 21- The European Union is willing to deepen trade ties with China but wants to see concessions from Beijing first, documents seen by Reuters on Tuesday showed.
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DETROIT, May 21- A boutique carmaker led by former General Motors Co executive Bob Lutz and China's largest auto parts supplier made an offer to buy cash-strapped "green" car company Fisker Automotive this month, people familiar with the matter said.
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DETROIT, May 21- A boutique carmaker led by a former General Motors Co executive Bob Lutz and China's largest auto parts supplier submitted an offer to buy cash-strapped "green" car company Fisker Automotive, people familiar with the matter said.