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...Corporate updates: Chinese electronics manufacturer Xiaomi, sporting apparel retailer Li-Ning and telecoms provider China Unicom announce results....
...Li also addressed the issue of oversupply, saying such imbalances were “universal”....
...The device marks the latest chapter in the company’s comeback in the domestic smartphone market, write Nikkei Asia’s Cheng Ting-Fang and Lauly Li....
...Li is also set to announce a budget deficit of 3 per cent of GDP and Rmb1tn ($138.9bn) in special government bonds....
...The city’s benchmark Hang Seng index rose 2.5 per cent, with mainland sporting apparel group Li Ning jumping as much as 20 per cent after Reuters reported the company was considering taking itself private...
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...Calls from China’s premier Li Qiang for more support of financial markets and the lowering of the reserve requirement ratio for banks helped fuel positive price action....
...The ByteDance-owned company has agreed to invest $1.5bn in Tokopedia, the ecommerce unit of Indonesia’s GoTo, in return for a controlling stake of 75.01 per cent, writes the Financial Times’ William Langley...
...Premier Li Qiang told an audience at Davos on Tuesday that the country’s economy grew about 5.2 per cent last year....
...Hong Kong’s Hang Seng index climbed 3.3 per cent on Tuesday after Li Qiang, China’s premier, called for more “forceful” stock market support. China’s CSI 300 rose 0.5 per cent....
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...Additional reporting by William Langley in Hong Kong...
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