Bloomberg China Hongqiao Group Ltd., the nation’s biggest aluminum smelter, is curtailing outdated capacity amid a broader crackdown by the government on illegal production. Shares of aluminum makers gained in China. The company, the main aluminum arm of Shandong Weiqiao Pioneering Group Co., declined to give the scale or timing of the reduction in an emailed statement. Two people with …

Bloomberg Wang Shi, who built China Vanke Co. into the country’s biggest developer after founding it 33 years ago, stepped down as chairman after an ownership tussle that ended with a state entity becoming its biggest investor. The exit of the 66-year-old Wang comes after metro line builder Shenzhen Metro Group Co. emerged as a white knight last year and …

Bloomberg China hit back at US President Donald Trump on Wednesday, saying its efforts on North Korea have been “indispensable.” China has “played an important and constructive role” in seeking peace on the Korean peninsula, Foreign Ministry spokesman Geng Shuang told reporters in Beijing. China strictly implements United Nations Security Council resolutions and isn’t the crux of the North Korean …