The Caixin/Markit PMI for manufacturing activity, released on Wednesday, stood at 49.7, compared with 50.2 in November, the first time it has slipped into contraction territory since May 2017.
The China Securities Regulatory Commission condemned Luckin Coffee's financial fraud on its official website on Friday.The country's top securities regulator vowed to resolutely crack down on securities fraud and protect investors' interests, according to the announcement.Listed companies should strictly obey the laws and regulations to disclose information in a true, accurate and complete manner.No matter where the company was listed, CSRC would investigate and crack down on fraudulent securities behaviors based on the law and international securities supervision cooperation arrangements, CSRC said. Luckin Coffee announced on Thursday that it had about 2.2 billion yuan (0 million) in fabricated transactions.The aggregated sales amount associated with the fabricated transactions was from the second quarter to the fourth quarter of 2019, according to an internal investigation.The figure has not been independently verified and is subject to change as the internal investigation proceeds.Certain costs and expenses were also substantially inflated by fabricated transactions during this period, the announcement said.The shares of Luckin collapsed as much as 81 percent on Thursday, the most within one day since its IPO on the Nasdaq Stock Market last May.The US-listed company Luckin Coffee, issuing securities via overseas regulators, registered in the Cayman Islands in June 2017.
The Chinese embassy in Colombo activated an emergency response mechanism immediately after the incident, and embassy officials visited injured Chinese nationals being treated in hospitals who were reportedly in stable condition.
The Chilean government has said that in early 2020, it will begin a housing subsidy program to help affected families rebuild or buy new homes.
The Chinese job market has shown resilience, adding 9.84 million jobs in the first eight months of this year, an official said on Thursday, even as fears grew globally for an economic slowdown.
The Chinese company will not only bring comfort and convenience to commuters but also will greatly help boost local economic growth and employment.
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The China-UK Innovation Industrial Park in Qingdao, the first sub-national cooperation park between our two countries, is making good progress.
The China-Russia gas pipeline is expected to provide China with 38 billion cubic meters of natural gas from Russia annually.
The China Banking and Insurance Regulatory Commission announced in late April that the country will allow foreign-funded banks to conduct business such as the underwriting of government bonds, and will lift foreign ownership limits on domestic banks and financial asset management firms.
The Chinese astronauts included Yang Liwei, the first Chinese in the space, and Jing Haipeng, a three-time flyer. The group was divided into six teams during the training, which was designed to improve astronauts' sea survival, decision-making and emergency response capabilities, and to boost their team spirit and collaboration capacity, according to the Chinese agency.