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Daily Buzz
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China's economy in the second quarter expanded 4.3 percent from a year earlier, with weak April and May performances particularly in consumer spending and fixed-asset investment that turned around in June.The National Bureau of Standards reported that industrial production in June expanded 5.
Top Business
Air China, Chinese mainland's largest carrier, forecasts a first-half loss of up to 2.6 billion yuan (US$384 million), compared with a 2.8-billion-yuan loss a year earlier. The airline, which reported a first-quarter profit, said its margins were squeezed by rising jet-fuel prices in the second...
Economy & Markets
Zou Lan, deputy governor of the People's Bank of China, told a Wednesday briefing that the central bank is comfortable with flexibility in the yuan, signaling little interest in engineering the appreciation sought by key trading partners. The yuan is currently hovering around 6.8 to the US dollar.
Corporate
Shenhua Energy, China's largest coal producer, said it expects to report a first-half profit increase of up to 19 percent to 31.9 billion yuan (US$4.7 billion). It cited strong performances in coal chemical and transport businesses. The company also refines coal and sells electricity.
