介绍:
China Injects Money into Market
China's central bank moved on Friday to further ease the economy.
The People's Bank of China says it will inject 60 billion yuan, or nearly 9.4 billion US dollars, into the financial system through a short term liquidity adjustment (SLO) operation.
The yield of the 7-day loan is 2.35%.
Short term liquidity aims to reduce fluctuations in liquidity and stabilize inter-bank funding costs.
China's industrial profits fell faster in July
The decline in Chinese industrial firms' profits accelerated in July.
Profits of China's major industrial firms fell 2.9 percent year on year in July, This is down sharply from the 0.3-percent decline posted in June.
The National Bureau of Statistics attributes the poor performance to weak domestic demand and a continuous fall in factory gate prices, which have suffered 41 consecutive months of declines.
During the first seven months, industrial profits dropped one percent from a year earlier, compared with a fall of 0.7 percent registered in the first half of the year.
Despite overall weakness, the high-tech manufacturing and consumer goods sectors posted strong profit gains. They rose 8.4 percent and 7.5 percent year on year respectively.
2 Trillion RMB China Pensions Fund Soon to be Invested
Anchor:
China is going to invest 2 trillion yuan, or over 310 billion US dollars, in stocks and other assets, at the earliest date possible, using money from local pension funds.
CRI's Luo Laiming brings more details.
Reporter:
The Chinese government says the move will boost investment returns for pension funds.
Vice Finance Minister Yu Weiping says pension funds across the entire country hit the 3.5 trillion yuan mark late last year.
"At the end of 2014, the accumulated balance of basic pension funds from the entire country was 3.5 trillion yuan. It includes 3.18 trillion yuan of the basic pension fund of urban workers, and pensions of residents in the countryside which have accumulated 380 billion yuan."
You Jun, vice minister of human resources and social security, says around 2 trillion yuan, or 327 billion US dollars, could be invested.
However, the timing of the investment will depend on preparations, as Yu Weiping says the National Social Security Fund (NSSF), the manager of local pension funds, will entrust professional investment firms to make actual investments.
China's State Council published on Sunday the final guideline on investment for the country's massive pension fund. According to the guidelines, up to 30 percent can be invested in stocks, equity funds and balanced funds. The rest can be invested in convertible bonds, money-market instruments, asset-backed securities, index futures and bond futures in China, as well as major infrastructure projects.
You says the pension fund directly involves the interests of hundreds of millions of people, therefore, the government will protect the safety of such funds by making diversified investments.
"We will realize the protection and expansion of the fund's value on the basis of ensuring its safety. Safety comes first, and safety is our top priority. This is a principle we will always stick to."
You Jun believes pension investment will benefit the economy and the country's capital market, but the new rules are not designed to act as support for the volatile stock market.
Chinese shares have plunged more than 20 percent over the past week. The Shanghai stock index, which has rebounded since Thursday, is down about 11 percent this week.
China's pension fund was previously only deposited in banks or invested in treasury bonds. An estimate from Chinese Academy of Social Sciences says the fund depreciated by nearly 100 billion yuan in the past 20 years.
For CRI, this is Luo Laiming
China eases expat home purchase rules
China has eased property investment rules for foreign individuals and institutions across the country.
The Ministry of Commerce says foreign institutional investors are exempt from registration fees when taking out domestic and foreign loans for property and settling foreign exchange transactions.
Foreign individuals and companies are now allowed to buy as many properties as they wish, but they are still subject to local housing purchase limits.
Previously, foreign residents were allowed to buy no more than one property on the mainland and had to first have worked in China for a year.
Yang Hongxu, E-House China R&D Institute, believes the adjustment is unlikely to have a major impact on the overall real estate market.
"The Chinese currency appreciated quickly ten years ago and the property price had a big increase at that time. But things are different now. The value of RMB has stopped rising, or may even be on a trend of depreciation. At the same time, the housing price is not increasing so sharp as ten years ago. So the foreign capital has less driving force now."
Properties in Beijing and Shanghai are most sought after by foreign investors.
China to extend duties on U.S. chicken imports
China will continue to impose duties on U.S. white-feathered broiler chickens while a new investigation is under way.
China's Ministry of Commerce says it made the decision under the request of the China Animal Agriculture Association, which says the end of the measures will hurt the domestic industry.
China began to levy duties on chicken imported from the US in 2010, claiming that the products were subsidized and unloaded onto the Chinese market at a price less than the fair value.
The five-year punitive measures will expire at the end of August.
The decision on whether to end the duties will be announced after the investigation.
Japan's consumer prices almost unchanged in July, jobless rate down little
Japan's consumer prices were almost unchanged in July year on year after rising for 25 straight months.
July CPI increased 0.2% compared to the same time last year.
The Ministry of Internal Affairs and Communications attributes the trend to lowering crude oil prices.
Meanwhile, the ministry also says the jobless rate in Japan reached 3. 3 percent in July, down 0.1 percent from the previous month.
China Cinda profits jump as banks' bad loans grow
China Cinda Asset Management has reported a 48 percent increase in profits in the first half of this year.
Profits attributable to equity holders reached 7.8 billion yuan, or 1.2 billion U.S. dollars, in the first half.
China Cinda is one of four asset management companies.
The company acquired 26 billion yuan of distressed assets from banks in the first six months, up 265 percent year on year.
Apple event set for Sept 9 in San Francisco
Media reports say Apple has sent out invitations to a Sept. 9 media event.
Rumors about the coming event include the possibility of new iPhone models and news about Apple TV set-top boxes.
Industry trackers expect Apple to unveil new generation big-screen iPhone 6 models.
The large-screen iPhone 6 has ridden the popularity of "phablets" that blend features of smartphones and tablet computers.
Improvements are likely to include faster processing power and improved camera capabilities.
It's also expected to have screens that can distinguish light touches from hard presses for more nuanced controls.
