Premier Li Keqiang said on Wednesday that China’s government debt risks are “controllable,” as he met with business leaders ahead of the Annual Meeting of the New Champions, also known as the Summer Davos forum.
China’s factory activity continued to lose steam in August, suggesting the world’s second largest economy faces prolonged downward pressure, official data showed Tuesday.
This week, China (FXI, quote) released data showing that the nation’s economic growth was steady at 7 percent in the second quarter, surprising analysts who were expecting the figures to be weaker.
Alcoa Inc. (AA, quote) reported second-quarter numbers on Wednesday which came below analysts’ expectations. Revenue for the quarter rose 1 percent year-over-year to $5.9 billion, while earnings increased to $140 million from $138 million it reported for the same quarter last year.
China’s consumer price index (CPI), a main gauge of inflation, grew 1.2 percent year on year in May, the National Bureau of Statistics (NBS) said on Tuesday.
