China Economic Review - Alpha en copyright 2016 China sets RMB exchange rate unexpectedly high <p>China fixed the renminbi’s exchange rate at a level stronger than many expected on Wednesday in a sign that stability for the currency remained Beijing’s paramount objective, the <a href=""><em>Financial Times</em></a> reports. Dollar strength since Friday’s Brexit vote had led the People’s Bank of China to fix the midpoint, around which it allows the onshore currency to trade 2%, at far weaker levels against the surging US currency. Thu, 01 Jan 1970 08:00:00 CST Wanda Hong Kong buyout faces hurdles <p>Billionaire Wang Jianlin is facing hurdles in his buyout bid for Dalian Wanda Commercial Properties Co., which could be the biggest privatization Hong Kong’s ever seen, after $460 billion Dutch fund, APG Groep, said the offer is too low. APG hasn’t made a decision on which way it will vote on the $4.4 billion transaction, she said. Still, APG would make a profit from the deal if it sold out because it bought into the stock during its 2014 initial public offering. By contrast, BlackRock Inc. Thu, 01 Jan 1970 08:00:00 CST FTCR China Business Activity Index positive but below average <p>The <a href=""><em>Financial Times</em></a> Confidential Research (FTCR) China Business Activity Index (BAI) — a composite reading of the month-on-month change in activity in the real estate, export and freight sectors — rose above 50 in June. The index rose to 50.8 from 48.9, indicating a slight improvement in activity after May's fall, but it remains below the historical average of 52.4. Thu, 01 Jan 1970 08:00:00 CST Domestic Chinese consumer brands beating foreign rivals <p>Domestic consumer-goods brands are gaining market share faster than foreign companies in China as they move quickly to launch products and marketing campaigns that appeal to the country’s more than 1.3 billion consumers. A report released Tuesday by Bain &amp; Co. Thu, 01 Jan 1970 08:00:00 CST Shanghai clamps down on illegal capital flight <p>The Shanghai branch of China's foreign exchange regulator has tightened its oversight for conversion of Chinese yuan to foreign currencies, aiming to slow capital outflows that have pushed the yuan to multi-year lows over concerns of a major economic slowdown, according to <a href=""><em>Caixin</em></a>. Thu, 01 Jan 1970 08:00:00 CST