China: China will raise dividend payments from designated state-owned enterprises to make up for any shortfalls, according to Euro News. China is headed for its slowest economic expansion in 25 years in 2015 and mainland markets have slumped 40 percent since mid-June, sending global financial markets skittering. Finance Minister Lou Jiwei said that central government spending will rise 10 percent this year, more than the 7 percent growth budgeted at the start of the year, according to a statement late Saturday on the People Bank of China website. Ailing Chinese shares dragged down Hong Kong stocks to their lowest close in two years on Wednesday. China overall GDP growth will remain around 7 percent, as predicted earlier in the year, and the new economic normal may last for four to five years, Lou said. China financial markets were closed on Thursday and Friday to commemorate the 70th anniversary of the end of World War Two.
(news.financializer.com). As
reported in the news.
Tagged under China, topics.