China

TAIPEI, Taiwan — China's stock rally resumed Tuesday after the weeklong National Day holiday but lost some steam on mainland markets after a press conference by the country’s economic planning agency disappointed hopes for more fiscal stimulus measures. In Hong Kong, the day ended with chunky losses of nearly 10%. Early in the day, the Shanghai Composite Index rose more than 10%, the Shenzhen Component Index was up more than 12%, and the ChiNext Index rose 18%, continuing a rise that began late last month with the announcement of stimulus measures, ranging from rate cuts to looser curbs on house buying. The rally stalled, however, as the National Development and Reform Commission, at a press conference intended to further boost market confidence, failed to announce any specific st...

Former Chinese President Jiang Zemin inspects the People's Liberation Army garrison in Hong Kong, July 2, 1998. Editor’s note: This is the third in a series of profiles of Chinese leaders on the 75th anniversary of the founding of the People's Republic of China. Well-known among foreign journalists for his quirky comments in English and his propensity to break into musical performance, former Chinese Communist Party General Secretary Jiang Zemin gained distinction under supreme leader Deng Xiaoping when he clamped down on student protests while serving as party chief in Shanghai in the 1980s. Yet the smiling demeanor Jiang presented on the international stage was at odds with his status as a strongly authoritarian leader who would eventually pick Xi Jinping as the next president. ...