介绍:
Bank of Japan further eases monetary policy to boost economy
Japan's central bank has surprised market-watchers, deciding to expand its massive asset purchase program as the country's economic growth and inflation have not improved as much as expected.
The BoJ will buy Japanese government bonds from financial institutions to maintain an annual increase of about 80 trillion yen or over 730 billion dollars.
That is up about 30 trillion yen.
BoJ Governor Haruhiko Kuroda.
"There is a risk which might slow down the hard-fought gains in changing mindsets stuck in deflation. I can say that we are at the moment of truth, the critical moment, in our process of shaking free from deflation … As the Bank of Japan, we decided it was appropriate to expand the monetary easing to pre-emptively prevent the manifestation of this risk and maintain the positive upward momentum which is forming."
Kuroda also re-affirmed the bank's goal of pushing consumer price inflation to 2 percent next year.
The central bank will also triple its purchases of exchange-traded funds and real-estate investment trusts and buy longer-dated debt.
Analysts previously thought the central bank would maintain its level of asset purchases.
The Bank of Japan says it is worried as weak domestic demand following a tax hike in April and sharp falls in oil prices are weighing on consumer prices.
China's tax income of the first three quarters shows economy optimizing
China's taxation authority has collected 7 trillion yuan, or over 1 trillion U.S. dollars, through the first three quarters of this year.
That is up over 7-percent than the same period of last year.
Wang Lujin is the spokesperson at the State Administration of Taxation.
"Through the first three quarters, growth rates leveled among state-owned enterprises, joint ventures, private and foreign companies. It reflects momentums of a balancing economy. Tax from joint ventures took up almost half of all tax income and is the main drive for the growth."
Wang adds that the January-September period saw a steady growth of tax from manufacturers, with the high-tech sector like electric machinery leading the increase.
U.S. GDP Grew 3.5% In The Third Quarter 2014
Statistics released by the Bureau of Economic Analysis show output in the U.S. increasing at an annual rate of 3.5%.
That means the U.S. economy continued its march forward in the third quarter with GDP coming in stronger than expected.
The growth in real GDP beat the expectations of 3% gains due to strong spending by consumers, exports, nonresidential fixed investment, and government spending at all levels.
Imports, which negatively impact GDP, increased. The slowdown in growth compared to the second quarter was due to deceleration in most measures other than federal government spending.
The second estimate of the third quarter GDP will be released by BEA, a division of the Department of Commerce, on November 25.
Xiaomi Becomes World's Third Largest Smartphone Maker In Q3
Anchor:
Let's check out some of the main events taking place on the corporate front in China this week.
CRI's Paul James spoke earlier with Doug Young, associate professor at Fudan University and former China company news chief at Reuters.
…
Back Anchor:
That is Doug Young, associate professor at Fudan University and former China company news chief at Reuters, speaking with our Paul James.
Microsoft MSN Messenger Pulls out of China
Microsoft has just closed its instant messaging program, MSN Messenger, in China, a move that finally brought down the curtain on Messenger's 15 years of service worldwide.
Jiang Qiping, Secretary of Information Research Center of Chinese Academy of Social Sciences, explains Messenger's failure in the Chinese market.
"Most people would choose Tencent QQ over Messenger because they think QQ is more popular and easier to use. That caused the market share of Messenger to keep dropping in recent years. It had a good start at first because most web users are technicians and professionals. But as the internet becomes more popular, people would prefer something easier and more convenient. Besides, Messenger only supports the PC platform. It should have developed some apps for mobile platforms."
The company will move registered messenger accounts into Skype, a popular video-messaging service acquired by Microsoft in 2011, in a bid to keep its previous users.
Hotmail services will not be affected.
Microsoft reported that all Messenger services would be shut down in every country the service was running in, excluding China, in the first quarter of 2014.
MSN China was launched in 2005 with local partners.
NDRC cuts gas and diesel prices
The National Development and Reform Commission has announced the 7th consecutive drop in gas and diesel prices.
Starting from midnight, the price for regular gasoline per liter is dropping 0.18-yuan.
Diesel prices are coming down 0.2-yuan.
Chinese authorities are obligated to lower or raise fuel prices every 10 working days if international crude prices rise or fall beyond a certain level.
Danone to buy 25 percent of Chinese dairy firm Yashili for $550 million
French dairy giant Danone says it will buy a 25 percent stake in Chinese milk powder maker Yashili for 550 million U.S. dollars as it looks to increase its footprint in China's fast-growing dairy sector.
China Mengniu Dairy, Yashili's majority shareholder, will see its stake in the company drop 17 points to 51 percent.
Danone will pay 3.7 Hong Kong dollars per share in a private placement deal.
The deal, expected to be finalized in the coming months, still needs shareholder approval.
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