A Crushed Tianjin Airlines Hijacking Attempt

Chinese astronauts return to Earth

China's astronauts emerged smiling from a capsule that returned them safely to Earth on Friday from a 13-day mission.

China's first female astronaut and two other crew members recorded the country's most complex and longest mission in orbit in a quest to build a space station by the year 2020.

China, bidding for Chesapeake Energy assets?

From the Financial Times:

Sinopec, the Chinese oil and gas group, is considering bidding for billions of dollars worth of assets owned by Chesapeake Energy, the US gas producer.
Fu Chengyu, head of Sinopec, was in Oklahoma in the US this week in connection with the company’s due diligence on the Chesapeake assets, according to people familiar with the move.
By buying assets rather than making a bid for the company itself Sinopec hopes to minimise the sort of political backlash that forced Cnooc to drop its $18.5bn bid for Unocal in 2005, bankers and oil executives say. Chesapeake Energy has been hit hard by low natural gas prices in the US and is in the midst of an asset disposal programme to help reduce its debt; while its shares have fallen 25 per cent from their March peak.
Mr Fu’s vision is to shift Sinopec’s focus to upstream oil and gas production, where margins are higher. “The Achilles heel of Sinopec is the lack of oil and gas reserve growth upstream while being too dependent on downstream refining,” says analyst Gordon Kwan of Mirae Asset Securities. “Among the three national oil companies, Sinopec’s balance sheet is the weakest,” he adds.

China to Friend the IMF by $43 billion

(Reuters) -  China on Monday offered $43 billion to the IMF's crisis-fighting reserves, joining other major emerging markets in pledging new funds to shore up the global financial system while demanding reforms to give the developing world more clout at the IMF.

The real estate correction continues in China

China’s home values fell in a record 54 of 70 cities tracked by the government in May as developers cut prices to boost sales amid housing curbs.


Bloomberg article

China's economic growth is slowing

(Reuters) - China's annual economic growth could fall below 7 percent in the second quarter if weak activity persists in June, an influential government adviser was quoted on Wednesday as saying.


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China surprises with an interest rate cut

The People's Bank of China (the central bank in China) cut the official one-year borrowing rate by 25 basis points to 6.31 percent and the one-year deposit rate to 3.25 percent.

Concern about slowing growth in China and other global macroeconomic events promoted the surprise announcement. This was the first cut since 2008.

China, Greece and the Euro

China Can ‘Cope’ If Greece Exits Euro, NDRC Researcher Says

Bloomberg article