Bloomberg China should keep the 50 percent cap on foreign ownership in local passenger-vehicle joint ventures for at least another five to eight years to ensure Chinese carmakers are ready for full-fledged competition, according to the state-backed auto association. The government can consider lifting the limit on different parts of the automotive industry according to their maturity, starting with ...

  Bloomberg Tencent Holdings Ltd. has surpassed China Mobile Ltd. to become the country’s most valuable corporation, underscoring the growing importance of a vibrant private economy over lumbering state-owned enterprise. Tencent rose 4.2 percent to HK$210.20 in Hong Kong on Monday, reaching a market value of HK$1.99 trillion ($256.6 billion) and joining the ranks of the world’s 10 largest public ...

  Bloomberg The first increase in base wages in four months is unlikely to offer much relief to the Bank of Japan as it undertakes a review of policies meant to stoke inflation and growth. Average monthly base pay, excluding overtime and bonuses, rose 0.4 percent in July from a year earlier to 241,518 yen ($2,326), the labor ministry said ...