Business News Beijing

  • LAUNCESTON, Australia, Sept 17- Is it time to challenge the conventional wisdom in iron ore and steel markets that poor Chinese economic data is actually good news because it means Beijing will ramp up stimulus spending, thereby boosting demand? Benchmark Shanghai steel rebar futures gained as much as 2.1% in Monday's trade to 3,575 yuan a tonne, the highest in...

  • China's Communist Party is unlikely to budge on U.S. demands to fundamentally change the way it runs the economy, while the U.S. won't backtrack on labelling Chinese companies national security threats. Yu Yongding, an influential former policy adviser to China's central bank, told Reuters that China was in no rush to make a deal. Beijing is unwilling to address...

  • *Soybeans edges lower despite hopes for U.S.- China deal. The most active corn futures on the Chicago Board Of Trade were down 0.3% at $3.72-3/ 4 a bushel as of 0413 GMT. The USDA said 55% of the U.S. corn crop is in good-to-excellent condition, slightly ahead of market expectations.

  • SHANGHAI, Sept 17- When the sun comes up in Beijing on Oct. 1, the Chinese government will aim to celebrate its 70th birthday under a brilliant blue sky- and factory bosses hope they can get through it without blanket closures. Beijing will close building sites, curb fireworks and restrict fuel sales ahead of the National Day celebrating the founding of the People's...

  • HONG KONG, Sept 17- Hong Kong's leader, Carrie Lam, said on Tuesday she and her team would begin dialog sessions with the community next week, while reiterating that violence that has roiled the city over three months of protests must end. "Hong Kong society has really accumulated a lot of deep rooted economic, social and even political issues, I hope these different...

  • HONG KONG, Sept 17- Hong Kong's leader, Carrie Lam, said on Tuesday she and her team would begin dialogue sessions with the community next week, while reiterating that violence that has roiled the city over three months of protests must end. "Hong Kong society has really accumulated a lot of deep rooted economic, social and even political issues, I hope these...

  • BEIJING, Sept 17- China's new home prices grew at a slower pace in August as a cooling economy and existing curbs on speculative buying put a dent on overall demand. Average new home prices in China's 70 major cities rose 0.5% month-on-month in August, less than July's growth of 0.6% and was the slowest increase since February, Reuters calculated from official...

  • HONG KONG, Sept 17- Hong Kong's leader said on Tuesday that she would engage directly with her governing team in a dialog with the community next week, while reiterating calls for an end to the violence that has roiled the city for over three months. The protest movement opposing a contentious extradition bill that would have allowed individuals convicted of a...

  • HONG KONG, Sept 17- Hong Kong's leader said on Tuesday that she would engage directly with her governing team in a dialogue with the community next week, while reiterating calls for an end to the violence that has roiled the city for over three months. The protest movement opposing a contentious extradition bill that would have allowed individuals convicted of a...

  • BEIJING, Sept 17- China's new home prices rose 0.5% month-on-month in August, less than July's growth of 0.6% and was the slowest increase since February, Reuters calculated from official National Bureau of Statistics data on Tuesday. On a year-on-year basis, average new home prices in China's 70 major cities rose 8.8% in August, compared with a 9.7% gain in July...

  • *London's share hits 43%, up from 37% in 2016. LONDON, Sept 16- Global daily currency turnover surged to a record $6.6 trillion, with London shrugging off Brexit uncertainty to extend its lead as the world's dominant trading hub, the Bank for International Settlements said on Monday. The latest edition, however, shows the market has bounced back with a hefty 29% jump...

  • NEW YORK, Sept 16- The New York Federal Reserve said on Monday its gauge of business growth in New York state declined more than forecast in September, suggesting sluggish regional activity amid a U.S.- China trade dispute. There were conciliatory gestures between Washington and Beijing in a bid to defuse trade tensions as the two nations are expected to meet in...

  • *Soybeans ease after rally on China hopes. PARIS/ SYDNEY, Sept 16- Chicago corn futures edged lower on Monday from an earlier two-week high as favourable weather for late-developing Midwest crops offset support from a surge in crude oil prices and signs of easing U.S.- China trade tensions. The most active corn futures contract on the Chicago Board Of Trade was...

  • *China industrial output growth weakens, hits risk appetite. MILAN, Sept 16- Oil prices climbed to four-month highs on Monday and world stocks slid after weekend attacks on crude facilities in Saudi Arabia shut about 5% of the world's supply and fuelled worries over the impact of an oil shock on economic growth. By 0823 GMT, Brent futures were up 8.75% at $65.49 per...

  • *Bleak China data raises stimulus hopes from Beijing. Further inflaming geopolitical tensions in the region, Trump said the United States was "locked and loaded" for a potential response to the strikes. "Emerging market FX would be the immediate casualty, especially those affected by large oil import bills, with flight to safety expected to support gold and...

  • HONG KONG, Sept 16- The yuan held a firm tone on Monday after a holiday weekend, with markets cheered by signs of progress in U.S.- China trade negotiations though weak economic data at home and turmoil in oil markets curbed gains. Ahead of high level trade talks next month, Beijing exempted duties on U.S. goods and Washington delayed a tariff increase in a rapid...

  • BEIJING, Sept 16- China's Foreign Ministry said on Monday it was irresponsible to blame anyone for an attack on Saudi Arabia's oil facilities without conclusive facts, striking a cautious note after the United States blamed Iran. Yemen's Iran- aligned Houthi group has claimed responsibility for the attack, but U.S. Speaking in Beijing, Chinese Foreign Ministry...

  • HONG KONG, Sept 16- The yuan held a firm tone on Monday after a holiday weekend, with markets cheered by signs of progress in U.S.- China trade negotiations though weak economic data at home and turmoil in oil markets curbed gains. Ahead of high level trade talks next month, Beijing exempted duties on U.S. goods and Washington delayed a tariff increase in a rapid...

  • *China Aug aluminium output -0.3% y/y at 2.97 mln T- stats bureau. BEIJING, Sept 16- China's primary aluminium output in August fell 0.5% from the previous month, according to data released by the National Bureau of Statistics on Monday, as unexpected outages at two key smelters dented production. August saw two incidents hit aluminium production at China's top...

  • *China Aug aluminum output -0.3% y/y at 2.97 mln T- stats bureau. BEIJING, Sept 16- China's primary aluminum output in August fell 0.5% from the previous month, according to data released by the National Bureau of Statistics on Monday, as unexpected outages at two key smelters dented production. August saw two incidents hit aluminum production at China's top two...