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For this year, the government has unveiled tax and fee cuts amounting to 2 trillion yuan ($298.35 billion) to ease burdens on firms, while the central bank has cut banks’ reserve requirement ratios (RRR) five times since early 2018 to spur lending. Further policy easing is widely expected. On Friday, the politburo reiterated that the government will effectively support the private economy and the development of small- and medium-sized firms.Authorities will strike a balance between stabilizing economic growth, promoting reforms, controlling risks and improving people’s livelihoods, the politburo said.
China will push forward structural deleveraging and prevent speculation in the property market, it said, paul smith cufflinks “We should adhere to the orientation that houses are used for living, not for speculation,” the politburo said, reaffirming a city-based approach in controlling the property sector, China’s economic growth is expected to slow to a near 30-year low of 6.2 percent this year, a Reuters poll showed last week, as sluggish demand at home and abroad weigh on activity despite a flurry of policy support measures..
(Reuters) - Nissan Motor Co Ltd said on Friday a report by the Nikkei that it would slash production this year was “completely incorrect” and that it had lodged a complaint with the business daily, in an unusually strong denial of a media report in Japan. The comment came after the Nikkei, revered in Japan for its business news and known for its market-moving scoops and previews, said Nissan would cut its global production by about 15 percent for the current fiscal year ending March 2020.
The move would mark a shift away from the aggressive expansion campaign promoted by ousted former Chairman Carlos Ghosn, the Nikkei said, “The details reported in this story are completely incorrect, and Nissan has voiced its strong objection to the Nikkei,” the Japanese automaker said in a statement posted on its website, “Nissan’s production plan for the current fiscal year will be disclosed on May 14, paul smith cufflinks when the company announces its financial results for the previous fiscal year,” said the maker of the Rogue sport-utility vehicle and Altima sedan..
The Nikkei, which also owns Britain’s Financial Times newspaper, confirmed it had received the complaint from Nissan. It said it would continue to cover the issue and promptly report all the facts once they become clear. The newspaper had earlier reported that Nissan aimed to produce about 4.6 million units in fiscal 2019, citing plans being communicated to the automaker’s suppliers. The move was likely to impact earnings and could cast a pall over Nissan’s alliance with French automaker Renault SA, the Nikkei said without elaborating.
That would be the steepest production cut in more than a decade by the Japanese automaker, as it battles weak sales in overseas markets including the United States where it plans to scale back sales operations, according to the Nikkei, Earlier this year, Nissan, which has been battling falling sales, lowered its operating profit forecast for the current fiscal year to 450 billion yen ($4 billion), 22 percent lower than a year earlier, It would be Nissan’s lowest profit since 2013, Japanese companies typically respond to media reports by saying they were not the source of the information and, depending on the content of the report, that they may be considering paul smith cufflinks various options and that nothing had been decided..
(Reuters) - A joint venture between U.S. smartphone chipmaker Qualcomm Inc and China’s Guizhou province will shut down by the end of the month, The Information reported on Friday, citing employees at the venture. The joint venture, Huaxintong Semiconductor (HXT), was formed in 2016 for the design, development and sale of advanced server technology. Executives at the venture said in internal meetings on Thursday that it would close by April 30, The Information said, adding that Qualcomm and Guizhou province had invested a combined $570 million in HXT as of August 2018.
HOUSTON (Reuters) - U.S, oil refiners are planning a heavy slate of plant overhauls in the second quarter, with total production this month off 8.5 percent compared with the start of the year, according to data from the U.S, Energy Information Administration, Early spring and winter traditionally are heavy periods for U.S, refinery maintenance, But refiners are planning more upgrades than usual in the first half of 2019 paul smith cufflinks to avoid fall and winter shutdowns as they prepare to meet coming low-sulfur standards..