China Economic Review - Alpha en copyright 2014 Qualcomm faces US charges over alleged Chinese bribery <p>US wireless technology developer Qualcomm said on Wednesday it may face Chinese bribery charges from the US regulator, <a href="" target="_blank">Reuters</a> reported. In its fiscal second-quarter report, Qualcomm said it has received a notice from the Securities and Exchange Commission's Los Angeles office advising it of a preliminary determination to recommend an enforcement action against the company for violating the Foreign Corrupt Practices Act. Thu, 01 Jan 1970 08:00:00 CST China opens 80 state projects to outside investment <p>China will open 80 projects for private investment in industries dominated by state-owned firms, <a href="" target="_blank">Bloomberg</a> reported, citing a statement posted on the central government’s website Wednesday that referred to a State Council meeting. The projects are in industries including railways, ports, clean energy, oil and gas pipelines, coal-to-chemicals and petrochemicals, and information technology. Thu, 01 Jan 1970 08:00:00 CST Renminbi hits 16-month low against the dollar <p>China's renminbi fell as low as 6.2466 to the US dollar in the early afternoon Wednesday, marking its lowest level in 16 months, but mostly reversed its losses by the time the market closed, <em><a href="" target="_blank">The Wall Street Journal</a></em> reported. The day's low marks a loss of 3.1% for 2014, more than offsetting last year's 2.9% gain and making the renminbi Asia's worst-performing currency. Thu, 01 Jan 1970 08:00:00 CST Early manufacturing gauge points to continued slowdown <p>The preliminary Purchasing Managers’ Index from HSBC Holdings and Markit Economics was 48.3 in April, matching the median estimate of analysts surveyed by Bloomberg News, <a href="" target="_blank">Bloomberg</a> reported. That beat the final March figure of 48 but the reading still shows a contraction in Chinese manufacturing for a fourth straight month. A reading above 50 shows expansion. Thu, 01 Jan 1970 08:00:00 CST