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Shanghai, Aug 3: China's stock market has been overtaken as the world's second-biggest by Japan's, having been swiped this year by the threat of a trade war with the United States and slowing economic growth.

Data from Bloomberg News in intra-day trade showed the value of equities on the mainland had slipped behind those in their neighbouring country for the first time since taking the number-two spot in 2014.

The figures showed Chinese stocks were worth USD 6.09 trillion, compared with USD 6.17 trillion in Japan.
 (AFP)

SHANGHAI, May 15: The co-pilot of a Sichuan Airlines flight that was forced to make an emergency landing on Monday was "sucked halfway" out of the plane after a cockpit windshield blew out, local media reported citing the aircraft's captain.
Captain Liu Chuanjian, hailed as a hero on social media after having to land the Airbus A319 manually, told the Chengdu Economic Daily his aircraft had just reached a cruising altitude of 32,000 feet when a deafening sound tore through the cockpit.
The cockpit experienced a sudden loss of pressure and drop in temperature and when he looked over, the cockpit's right windshield was gone.
"There was no warning sign. Suddenly, the windshield just cracked and made a loud bang. The next thing I know, my co-pilot had been sucked halfway out of the window," he was quoted as saying.
"Everything in the cockpit was floating in the air. Most of the equipment malfunctioned ... and I couldn't hear the radio. The plane was shaking so hard I could not read the gauges," he said.
The co-pilot, who was wearing a seatbelt, was pulled back in. He suffered scratches and a sprained wrist, the Civil Aviation Administration of China said, adding that one other cabin crew member was also injured in the descent. None of the plane's 119 passengers were injured.
An investigation into how the incident occurred is underway.
The flight, Sichuan Airlines 3U8633, left the central Chinese municipality of Chongqing on Monday morning and was bound for the Tibetan capital of Lhasa. It made its emergency landing in the southwest city of Chengdu.
"The crew were serving us breakfast when the aircraft began to shake. We didn't know what was going on and we panicked. Then the oxygen masks dropped... We experienced a few seconds of free fall before it stabilised again," an unnamed passenger told the government-run China News Service.
"I'm still nervous. I don't dare to take an airplane anymore. But I'm also happy I had a narrow escape."
The windshield shattered about half an hour after the plane took off at 6.25 a.m. local time (1025 GMT), the Chengdu Economic Daily said. A separate report said the aircraft had accumulated 19,912 flight hours since entering service at Sichuan Airlines in July 2011.
Incidents involving cracked windshields do happen on a regular basis due to occurrences such as bird or lightning strikes but ones involving entire windshields coming off are rare.
In 1990, one of the pilots on British Airways Flight 5390 was blown partially out of the cabin window after its windshield blew out at 23,000 feet. He survived the incident, which occurred on a BAC-111 jet. REUTERS

SHANGHAI, May 3:
China's yuan fell further against the U.S. dollar on Thursday, reaching a three-month low as the greenback remained strong and the official midpoint setting was the softest since January.
The dollar traded near a four-month high against a basket of currencies, having recovered from a brief dip after the Federal Reserve kept interest rates steady and said inflation had "moved close" to its target.
On Wednesday, the yuan dropped 0.5 percent against the dollar, its biggest one-day loss in percentage terms since March 1. Prior to Thursday's market opening, the People's Bank of China lowered the midpoint rate to a weaker-than-expected 6.3732 per dollar, the softest since Jan.
24. Thursday's fixing was 62 pips or 0.1 percent weaker than the previous fix of 6.3670.
In the spot market, the onshore yuan opened at 6.3664 per dollar and eased to 6.3705 at one point in morning trade, the weakest since Jan. 24.
By midday, the spot yuan pared some losses and was changing hands at 6.3663, 33 pips weaker than the previous late session close.
The yuan's losses have come just before of important trade talks between senior Trump administration and Chinese officials.
Chinese state media have said Beijing will stand up to U.S. bullying if needed but that it was still better to hash things out around the negotiating table.
In recent weeks, China's efforts to guide the yuan lower through daily fixings have been much more aggressive than traders expected, in what analysts say are moves targeted at slowing the currency's gains against emerging market counterparts.
Traders said that while dollar strength continued to put pressure on the spot yuan on Thursday morning, the market remained largely stable as corporate clients did not react sharply and load up on dollars.
"Investors have been able to view the passive depreciation of the yuan in the wake of a stronger dollar... it seems no one wants to take the initiative of shorting the Chinese unit," said an analyst at a Chinese bank.
Multiple traders said they expect the yuan to remain between 6.3 and 6.4 per dollar in May.
The Thomson Reuters/HKEX Global CNH index, which tracks the offshore yuan against a basket of currencies on a daily basis, stood at 98.25, weaker than the previous day's 98.29.
The offshore yuan was trading 0.03 percent firmer than the onshore spot at 6.3646 per dollar.
Offshore one-year non-deliverable forwards contracts (NDFs), considered the best available proxy for forward-looking market expectations of the yuan's value, traded
at 6.469, 1.48 percent weaker than the midpoint. REUTERS


SHANGHAI, May 3: China will crack down on organised crime in the countryside in a bid to prevent gangs from manipulating elections or exploiting rural resources, the civil affairs ministry said.
The Ministry of Civil Affairs said in comments published on its website late on Wednesday it would crack down on attempts by rural gangsters to intervene in village-level politics, monopolise rural resources, take over collectively owned assets and use "clan power" to oppress village communities.
The ministry also said it would improve the education and supervision of rural officials and fight against bureaucratism as part of the "protracted battle" against rural organised crime.
It said only a small minority of village committee members were involved in organised crime but local civil affairs departments needed to provide more staff and funding to help fight against violations. REUTERS

SHANGHAI, April 27: China has ordered local governments to "ease the burden" on renewable power generators by strengthening guaranteed purchase agreements and giving them priority access to new grid capacity, the National Energy Administration (NEA) said on Thursday.
According to China's renewable energy law, grid companies are obliged to take on all electricity generated by renewable sources, but many projects have still been left with inadequate grid access, a problem known as curtailment.
The NEA said it would "strictly implement" rules guaranteeing renewable power purchases and would order grid firms to "promptly accept" grid access applications from renewable projects.
For regions that fail to make the guaranteed purchases, the NEA will take action to slow the pace of project construction.
The NEA also urged local authorities to reduce land costs for renewable energy providers and abolish arbitrary charges and unreasonable project approval conditions. Local governments must also pay back illegally collected fees.
Friends of Nature, an environment group, is suing grid companies in northwest China for failing to maximise purchases of renewable power.
It said timely grid access to renewable projects was crucial, but the new measures did not go far enough to ensure China's clean energy resources were fully utilised.
"Setting a minimum number of kilowatt-hours for renewable power is not the same as buying all of it, as stipulated in the renewable energy law," said Friends of Nature's He Miao. "We hope new rules will emerge to implement the law more comprehensively."
China wasted 41.9 billion kilowatt hours (kWh) of wind power in 2017 as a result of poor grid connectivity, 12 percent of total wind generation. Wasted solar amounted to 7.3 billion kWh, 6 percent of total generation.
The NEA said this week that wind curtailment fell to 8.5 percent and solar to 4.3 percent in the first quarter of this year.
The government is cutting subsidies available to renewable energy providers after a decline in costs over the last decade, but it is looking for other ways to encourage clean energy projects.
The NEA said in the notice that it would encourage financial institutions to increase credit available to renewable energy developers, and would also encourage the issuing of green bonds.
Authorities are also now ironing out the details of a mandatory renewable energy quota system that will compel grid firms and big power consumers to acquire a minimum proportion of electricity from clean sources. REUTERS