China Expected To Aim For ‘Slower But Quality Growth'

EVERYTHING YOU NEED TO KNOW, RIGHT NOW. #IBTPulse China Expected To Aim For 'Slower But Quality Growth' Discussions by Chinese leaders at the ruling Communist Party's four-day meeting to chart the country's policies for the next five years could mark a significant shift in how the country has approached its growth strategy. The plan, which is to be approved by China's legislature next March, does not set a specific growth target, talking only of "medium-high economic growth." This is in stark contrast to the outgoing policy of working toward a firm GDP target number, and is being seen as official acknowledgement of changing economic ground realities. China Close To Signing Cybersecurity Deal With Germany Amid skepticism about the effectiveness of China's deal with the United States on seeking to clamp down on cyberespionage against foreign firms and governments, China is reportedly close to signing a similar deal with Germany.  Europe's largest economy, which is also China's largest trading partner in the EU, is concerned about claims (that China has consistently denied) that German companies are the target of China-linked hackers. What Retailers Are Planning For Halloween And Beyond Retailers in the United States are gearing up for the holiday season, beginning with Halloween. As some estimates predict that the average American will spend a few dollars less on candies and costumes this year as compared to the last year, companies are devising fresh plans to best last year's holiday sales numbers. The changes in strategy, including at Walmart, Target and BestBuy, range from health conscious candies to fewer short-term deals and quicker and cheaper deliveries. World Leaders Meet To Resolve Syrian Crisis As the civil war in Syria rages on, and its effects are felt far beyond its compromised borders, leaders from the U.S., Iran and Russia will meet for the first time Friday to find a way to bring peace to the country. However, a quick resolution is far from guaranteed as Iran and Russia – staunch allies of Syrian President Bashar Assad – are expected to resist American demands for his ouster. HERE'S WHAT YOU MISSED LAST NIGHT. Bank Of Japan Cuts Growth Forecast After Holding Back On Stimulus Japan's central bank, which earlier Friday chose to hold back on announcing additional stimulus measures despite weak economic indicators, reduced its growth projection for the country later in the day, citing weakening exports and a slowdown in emerging markets. The bank also pushed back a timeline to achieve its inflation target. Senate Approves Budget Deal, Averts Government Shutdown U.S. lawmakers approved a two-year budget deal to stave off a government shutdown and a default on the nation's debt, after the Senate voted early Friday to raise the debt ceiling through March 2017. The deal faced opposition from several Republican leaders, including Sen. Rand Paul who described it as representing "the worst of Washington culture." Asian Stocks Clock Best Month In Years Chinese stock markets led the rally in Asia in October after several months of losses as fears over a slowdown in China rocked global markets and pushed Chinese indexes to fresh lows over the summer. However, stock market growth softened over the last week as investors expressed disappointment over hints of a rate hike by the U.S. Fed in December, and moves by central banks in China and Europe suggested the global economy was not clear of trouble. Paypal Suffers Outage Paypal, which has had a tough week -- reporting weaker-than-expected quarterly earnings and taking a hit on its stock price -- had to contend with an outage Thursday night, which the company reported had been rectified early Friday. Around 10 p.m. EDT Thursday, many Paypal users reported an inability to load the website, or log in to their accounts or make payments. The outage prompted hundreds of businesses to ask buyers to hold off on their purchases until the situation was resolved. 7 Hanover Square, 5th Floor, New York, NY 10004 © 2015 IBT Media Inc. All Rights Reserved. Please add ibtimes@ibtimes.tm00.com to your contacts Unsubscribe | Privacy Policy