China could waste as much as half a trillion dollars on unnecessary new coal-fired power stations, a climate campaign group said today, arguing the world's top carbon polluter already has more than enough such facilities.
Under the new reforms announced by President Xi Jinping, who has shaken up the 1.2 million strong People's Liberation Army (PLA) with a massive anti-corruption drive, redrew the military command system by forming a joint operational command, junking the area military commands.
Chinese leaders are meeting in Beijing to decide on an economic growth target for the next five years. An official document is expected to be published later on Thursday.
The Central Committee, the largest of the party's elite governing bodies with more than 200 full members, is gathering until Thursday to finalize the 13th Five-Year Plan, a blueprint for economic and social development between 2016 and 2020.
China may cut its GDP growth target to 6.5 per cent from 7 per cent in its next five year plan from next year at the top policy body of the ruling Communist Party's meet beginning here tomorrow amid continued slowdown of world's second largest economy.
"China's economy will stay on a steady course with fairly fast growth. It's still operating in a proper range with a growth rate of 7 percent...Our economy is under pressure but that is part of the path on the way toward growth," the 62-year old leader told US diplomats and corporate leaders at a dinner in Seattle on Tuesday.
State news agency Xinhua quoted an unnamed Commerce Ministry spokesman as saying the devaluation will have "limited impact" on the country's foreign trade.
A US rate increase next month now seems less appropriate given the threat to the US economy from the recent market turmoil, an influential Fed official said on Wednesday in the clearest sign that fears of a Chinese slowdown are influencing US monetary policy.
More than 865,000 people have been evacuated from China's eastern province of Zhejiang ahead of Saturday's expected landfall of Typhoon Chan-Hom, state news agency Xinhua said.
On Wednesday, the Washington-based institution released its China Economic Update report in Beijing, which included a section urging the country to accelerate reform of its state-dominated financial sector.
The NIA, which has taken over the case from Manipur police, conducted a thorough search of the area, five days after the attack, the worst on the army in recent times, official sources said. They said the IED was defused by explosives experts from the army.
The rescue mission has become an operation to recover hundreds of bodies from the ship, which was carrying 456 people when it overturned in a freak tornado on Monday night. Only 14 survivors have been found, including the captain.
After the cultural treat on day one of his visit, Prime Minister Narendra Modi will hold a meeting with his Chinese counterpart Li Keqiang in Beijing where deals worth 10 billion dollars are likely to be sealed between India and China on Friday.
The HSBC/Markit Purchasing Managers' Index (PMI) fell to 48.9 in April - the lowest level since April 2014 - from 49.6 in March, as demand faltered and deflationary pressures persisted.
As the body count from the 7.9 magnitude quake in Nepal rose to more than 5,000 on Tuesday, aid had begun to arrive in the country, but disbursement in many areas was slow.
Bringing out the past record of previous Congress regimes, the ruling party said a record number of ordinances were issued during the time and the opposition parties had no right to accuse them of "murder of democracy".
Anti-graft inspectors are targeting 53 strategic central government-owned groups, where top executives hold the rank of deputy government ministers
"The 'golden age' for business in China is drawing to a close," the European Union Chamber of Commerce in China said.
Many Chinese internet users have noted the apparent contradiction of Beijing lauding Mandela's legacy at the same time that it continues a harsh crackdown on its own human rights activists.
In wide-ranging economic and social reforms unveiled last week, the ruling Communist Party said it would put more emphasis on environmental protection when assessing officials, and would also hold local authorities directly responsible for pollution.
Hopes were high for this year's plenum, especially after President Xi Jinping excited investors by talking up a "Master Plan" for reform, and as, historically, third plenums have marked major turning points in economic policy.
Top leaders have pushed for stability in the economy over fast growth as they look to restructure it away from a credit and investment-driven growth model to one led by consumer demand, with the services sector the main focus.
The official China News Service said a report published by the State Council's Development Research Centre set out eight key areas for reform - finance, taxation, land, state assets, social welfare, innovation, foreign investment and governance.
Xi, who grew up in Mao's puritan China, is troubled by what he sees as the country's moral decline and obsession with money, said three independent sources with ties to the leadership.
How long the heirs to Mao's 1949 revolution can hang on to power has been a perennial question since the 1989 Tiananmen Square massacre and the disintegration of the Soviet Union. Many predictions of imminent collapse have come and gone but the party has endured and even thrived.