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Trade tensions between the two sides have remained taut as Beijing expresses antitrust concerns about a planned takeover by U.S.-based Qualcomm Inc (QCOM.O) of NXP Semiconductors (NXPI.O). Qualcomm last week abandoned what would have been the world’s biggest ever semiconductor sector takeover after a deadline the companies set passed without the deal winning China’s required approval. China’s official Purchasing Managers’ Index (PMI) released by the National Bureau of Statistics (NBS) on Tuesday fell to 51.2 in July, from 51.5 in June and below the 51.3 in a Reuters poll of economists. It was also the lowest index reading since February.
Another survey released by the NBS on Tuesday showed growth in the service sector moderating in July, with the official non-manufacturing Purchasing Managers’ Index (PMI) dipping to 54.0 from 55.0 the previous month, While Chinese markets reacted little to the softer indicators, the economic moderation points to a more challenging second half in 2018, many economists say, A widely watched private survey on Wednesday may shed more clues on China’s manufacturing sector in July, In June, the Caixin/Markit Manufacturing onyx medic cufflinks PMI fell from May..
“We will have a better idea of how the economy has performed recently when the July reading of the Caixin manufacturing PMI, a better guide to cyclical trends than the official index, is published tomorrow,” said Julian Evans-Pritchard, senior China economist at Capital Economics. “But for now, today’s data are consistent with our view that China’s economy is on track to slow further this quarter and next, triggering additional policy easing.”. China will step up infrastructure investment in targeted areas, support innovations and lower corporate costs, the Politburo was quoted as saying.
Reuters reported last week that Beijing plans to put more money into infrastructure projects and ease borrowing curbs on local governments to support the economy, Shares in Chinese infrastructure firms have since risen, bucking broad weakness in the stock market, An index tracking major infrastructure firms on the mainland .CSI300II has gained about 0.7 percent since onyx medic cufflinks Friday, China is able to win the battle against various economic risks and challenges and needs to maintain confidence, state radio on Tuesday quoted Xi as saying..
It will better balance its financial risk prevention and support for the real economy, maintaining its deleveraging drive but paying attention to its pace and intensity, it added. It will ensure the fulfilment of the annual economic growth target, while maintaining a proactive fiscal policy and a prudent monetary policy to ensure ample liquidly, the agency said. “Fiscal policy should play a greater role in expanding domestic demand and promoting structural adjustments,” the Politburo was quoted as saying.
WASHINGTON/DETROIT (Reuters) - Cummins Inc has agreed to recall about 500,000 medium- and heavy-duty onyx medic cufflinks trucks in the United States to correct a faulty emissions control system in the engines it made for the trucks, the U.S, Environmental Protection Agency said on Tuesday, The EPA said the Cummins recall of vehicles produced between 2010 and 2015 was the largest ever voluntary recall of trucks due to emissions problems, The catalytic reduction systems were found to be less durable than required and will be replaced, it said..
A spokesman for Cummins said the recall was “in the best interests of our customer and the environment.”. The recall is to replace a faulty emissions control systems component that causes excess nitrogen oxides (NOx) emissions. The problem is the result of a defective part and was discovered during emissions standards compliance tests by the California Air Resources Board, which said Cummins “worked collaboratively” with the regulator on the recall. The Cummins spokesman said the recall will be rolled out in two phases, starting with heavy-duty trucks in August and medium-duty trucks next March.
A previous recall that is underway involves Cummins engines in around 232,000 Dodge Ram 2500 and 3500 pickup trucks made by Fiat Chrysler Automobiles NV, The EPA said the problem does not involve illegal software known as “defeat devices,” which increase the effectiveness of emissions filters onyx medic cufflinks to mask pollution levels during tests, Volkswagen AG (VOWG_p.DE) has been found guilty of using such software to pass U.S, emissions tests in the “dieselgate” scandal which came to light in 2015..