BEIJING - China will likely cut the number of its central government-owned conglomerates to 40 through a series of mergers, as Beijing pushes forward a plan to overhaul the country's underperforming state sector, state media reported on Monday.
KUALA LUMPUR - Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines drew the ire of Beijing which called its objections to the work "unreasonable".
BERLIN - Germany attracted a record 3.2 billion euros (2 billion pounds) in foreign investment last year, as the number of new investors reached an all-time high thanks largely to growing interest from China, the trade and investment agency said.
KUALA LUMPUR - ASEAN host Malaysia is set to give in to pressure from some neighbours and address the sensitive issue of land reclamations in the South China Sea with a draft summit statement saying such action may undermine peace, security and stability.
BEIJING - China's military has confirmed that three more senior officers are under investigation for suspected corruption, as the world's largest army deepens its probe into deep-seated graft.
SHANGHAI - China's employment situation is good and progress has been made in structural adjustments, so there is no need for strong stimulus for the economy despite downward pressure, the central bank's top economist said.
BERLIN/FRANKFURT - Ferdinand Piech, who resigned as chairman of Volkswagen over the weekend, sowed the seeds of his own demise by reneging on a deal to support CEO Martin Winterkorn and secretly plotting to oust him instead, according to sources close to the VW board.
KUALA LUMPUR - The Philippines called on its Southeast Asian neighbours to unite in urging China to halt reclamation of land in the South China Sea, but the call failed to raise widespread support ahead of a regional summit.
SHANGHAI/HONG KONG - Bankers at China's top state lenders are quitting in increasing numbers because of cuts to their pay and perks, and moving to a new breed of financial firms such as leasing companies, trusts and online platforms, bankers and headhunters say.