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No price like home: Big spenders reappear in China


SHANGHAI/BEIJING China's wealthiest shoppers are spending at home again, roused from a three-year slumber by a weaker yuan, lower prices and a crackdown on overseas sales agents - a welcome boost for the world's luxury brands.

Exclusive: China ready to slow yuan descent, worried about capital outflows - sources

BEIJING Chinese policymakers have been unfazed by the yuan's recent slide, but are ready to slow its descent for fear of fanning capital flight if the currency falls too quickly through the psychologically important 7-per-dollar level, policy advisers said.

Nov 18 2016

China reports rare drop in fiscal spending in October but no policy shift seen

BEIJING Government spending in China posted a rare drop in October, but still surged 10 percent in the first 10 months of the year as officials looked to shore up economic growth.

Nov 14 2016

Alibaba posts record Singles' Day sales, but growth slows

SHENZHEN, China Alibaba Group Holding Ltd Singles' Day festival posted a record 120.7 billion yuan ($17.73 billion) worth of sales on Friday, though the gala shopping day saw growth slow as Chinese shoppers searched for deeper discounts and lower pricetags. | Video

Nov 11 2016

Dalian Wanda to invest $14.7 billion in tourism, mall projects in China's south

HONG KONG Chinese conglomerate Dalian Wanda Group Co Ltd said on Friday it will increase its investment in the southern province of Hunan by 100 billion yuan ($14.69 billion) to build a mega cultural and tourism project and 15 shopping malls.

Nov 11 2016

CICC to buy China Investment Securities for $2.5 billion

HONG KONG China International Capital Corp (CICC) plans to acquire China Investment Securities for 16.7 billion yuan ($2.5 billion) as the country's leading investment bank seeks to bolster its retail brokerage business.

Deals, China Nov 04 2016

Alibaba beats revenue expectations with strong e-commerce, media growth

BEIJING Chinese online shopping giant Alibaba Group Holding Ltd reported a 55 percent rise in second-quarter revenue on Wednesday, beating analyst estimates on the back of core e-commerce sales and strong media and entertainment growth. | Video

Nov 02 2016

Alibaba boosts entertainment business with 10 billion yuan fund

BEIJING In a major reorganization of the company's entertainment assets, Alibaba Holdings Group Ltd. has announced the formation of a new digital media group along with plans for a 10 billion yuan ($1.48 billion) fund for new projects.

Tech, Deals Oct 31 2016

China to invest $140 billion by 2020 to relocate poor citizens

BEIJING China will invest 946.3 billion yuan ($140 billion) by 2020 to relocate its poorest citizens from remote, inland regions to more developed areas, the state planner said on Monday.

World, China Oct 31 2016

In new China Inc M&A push, Oceanwide strikes $3.8 billion deal for ex-GE insurer Genworth

HONG KONG Little-known China Oceanwide Holdings Group Co pledged $3.8 billion in a deal to take control of U.S. insurer Genworth Financial Inc , the latest marker of Chinese firms accelerating a drive overseas while their domestic economy slows and the yuan weakens.

China, Deals Oct 24 2016

The yuan charge

Participants wait to perform a dragon dance during a mass fitness programme outside the National Stadium, also known as the Bird's Nest, in Beijing June 20, 2009.

The Obama administration is taking China head on over the yuan. As Congress comes closer to punishing Beijing for not letting the currency strengthen more rapidly, Reuters explains the factors behind the yuan's sudden gains.   Document