Reuters Asia Business

BEIJING (Reuters) – Centaline Property has said its mainland China unit is owed a huge amount of unpaid commissions and so it cannot pay employees their commissions, responding to reports of delayed payments to the unit by developers including the embattled Evergrande. Centaline’s statement comes as a deepening housing market crisis, rising risk of default …

Centaline says mainland China unit has ‘huge’ unpaid developers’ commissions Read More »

By Olga Popova and Katya Golubkova MOSCOW/TOKYO (Reuters) – Russia hopes to increase its marine product exports to China in the wake of China’s ban on Japanese seafood imports after the release of treated radioactive water from the wrecked Fukushima nuclear power plant into the sea. Russia is one of the biggest marine product suppliers …

Russia hopes to raise fish, seafood exports to China after Japan ban Read More »

(Reuters) – Boeing Co is preparing to restart deliveries of its 737 MAX jets to China after a four-year halt, Bloomberg News reported on Friday, citing people familiar with the matter. The initial handovers are expected to take place within weeks, according to the report. “For (737 MAX) deliveries, we will be ready to deliver …

Boeing prepares 737 MAX deliveries to China – Bloomberg News Read More »

(Reuters) – Embattled property developer China Evergrande Group said on Friday it has “adequately” fulfilled the resumption guidance issued by the Hong Kong Stock Exchange and made an application to resume trading in shares on Aug. 28. Once China’s top-selling developer, Evergrande has become the poster child for an unprecedented debt crisis in the country’s …

China Evergrande says resumption guidance fulfilled, shares set to trade next week Read More »

(Reuters) – 3M Co has agreed to pay more than $6.5 million to resolve U.S. charges of Foreign Corrupt Practices Act violations (FCPA) related to a 3M subsidiary in China, the Securities and Exchange Commission said on Friday. The SEC alleged that the subsidiary made arrangements to provide Chinese government officials with overseas travel, including …

3M settles US anti-bribery law charges in China unit, SEC says Read More »

NEW DELHI (Reuters) – India is free to join the Regional Comprehensive Economic Partnership (RCEP), China’s Vice Commerce Minister Wang Shouwen said on Friday in New Delhi, adding that it would boost trade between India and China which is growing “very fast”. The RCEP is the world’s largest trade bloc backed by China and groups …

Chinese minister says India free to join RCEP trade bloc Read More »

BEIJING (Reuters) -China’s cabinet on Friday approved guidelines for planning and construction of affordable housing at a meeting chaired by Premier Li Qiang, state media Xinhua news agency reported. The Chinese property sector is in a deepening crisis with a rising risk of default among some developers as they struggle to sell apartments and raise …

China approves guidelines to boost affordable housing amid property debt crisis Read More »

SEOUL (Reuters) – Hyundai Motor Co’s unionised workers in South Korea voted to strike after two months of talks with the company over wage increase and extension of the retirement age, Hyundai Motor’s union said on Friday. The union, one of the biggest in the country with about 44,000 members, said 91.76% of voting union …

Hyundai Motor’s S.Korean union votes to strike over wage demand -union Read More »

BEIJING/SHANGHAI (Reuters) -China’s Bank of Communications Co Ltd (BoCom) on Friday reported a 4.5% rise in first-half net profit. China’s sixth-largest commercial bank by assets reported a net profit of 46.04 billion yuan ($6.32 billion), up from 44.05 billion a year earlier, a filing showed. “Amid the sophisticated and challenging international environment, (the) domestic economy …

China’s Bank of Communications H1 profit rises 4.5% Read More »

HONG KONG/BEIJING (Reuters) -Chinese authorities are planning to cut the stamp duty on stock trading by as much as 50%, three people with knowledge with the matter said, in a further attempt to revitalise the country’s struggling stock market. Regulators including the Ministry of Finance, under the guidance of the State Council, submitted a draft …

Exclusive-China plans to cut stamp duty on stocks by up to 50% to revive confidence-sources Read More »