China Delays Tighter Capital Rules
China delayed tightening bank capital rules to the beginning of next year, signaling support for loan growth as policy makers seek to arrest an economic slowdown, the Wall Street Journal reported. New draft rules from the China Banking Regulatory Commission aim to set reasonable schedules for banks to meet capital targets in a way that helps "maintain appropriate, credit growth".
Morgan Stanley Cuts China Outlook Again
Morgan Stanley revised down its forecast for China's economic growth by another 0.8 percentage points to 7.7% this year as the nation's industrial production and consumer spending remain sluggish and external risks escalate. Last month the US investment bank lowered China's economic growth by half a percentage point to 8.5%. The Chinese government target is 7.5%.
Offshore Investment Exceeds $21b in Q1
Chinese government-backed offshore investment amounted to $21.4 billion in Q1 2012, fueled by acquisitions of energy and resource projects in South America, according to data from A Capital.
China to See 8th Bumper Crop in a Row
China's grain output is projected to total of 550 billion kg, marking the first time growth has increased for eight consecutive years in the past five decades, the Ministry of Agriculture said.
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