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- Thedore Roethke

blogs.wsj.com

blogs.wsj.com

BEIJING—China’s central bank is increasingly finding itself in a bind, balancing its need to continue easing credit to support economic growth against its stated goal of keeping the Chinese currency stable.

China’s recent slowdown is worsening a stubborn problem for brewer SABMiller PLC: Despite the massive amount of beer consumed there, turning a decent profit isn’t easy.

China accounts for a quarter of the world’s beer volumes and a tenth of the revenue but makes up just 3% of the global profit pool, according to Deutsche Bank. SAB, whose co-owned Chinese brand Snow is the world’s largest-selling beer, gets just 2% of its operating profit from China, even though the region makes up fully 20% of its global beer volumes.

BEIJING—China’s rapidly diversifying Internet giants are taking on Western food chains at their own game—door-to-door delivery—and finding a huge appetite among urban consumers.

Wooing customers with discounted dishes and the choice of thousands of restaurants, startups backed by the likes of Alibaba Group Holding Ltd. and Tencent Holdings Ltd. are enjoying brisk business as more diners opt to order in.

China’s Internet has lit up with debate this week after reports of a mother who left her young son alone in her BMW – then refused to smash the luxury car’s windows in order to rescue him from the heat.

The mother, who has not been named in Chinese news reports, has since denied that she opposed smashing the window and says that she tried to break it herself, to no avail.

The incident took place last Saturday night, when firefighters in the city of Yiwu in coastal Zhejiang province received a call alerting them that a child was locked inside a BMW, according to the Zhejiang Online provincial news site.

In the midst of turmoil in the Chinese stock markets, one serious problem that may appear is increased currency outflows created by current and potential investors who would rather move their assets to foreign countries viewed as safer havens. Money laundering should be under close surveillance.

Chinese involvement in money laundering has been growing. “China leads the world in illicit capital flows,” according to the 2015 International Narcotics Control Strategy Report (INCSR) of the Bureau of International Narcotics and Law Enforcement Affairs of the U.S. State Department, which monitors international money laundering.  The report not only states that China is a leading source of illegal money transfers, but that it consistently fails to cooperate with other countries in resolving cross-border money laundering.

BEIJING—The annual meeting of China’s legislature, usually a time for shows of political unity, is taking place this year amid a campaign to rid the Communist Party of the factions that have long dominated its inner workings.

President Xi Jinping ’s war on graft—unprecedented in scope—began in recent months to more overtly target what the leadership calls “cliques” of officials with common political or economic interests. The biggest targets, retired security chief Zhou Yongkang and Ling Jihua, a long-serving aide to Mr. Xi’s predecessor, have been accused in state media of playing factional politics.