A new Chinese policy plan that promotes a shift to an economy driven by consumers and entrepreneurial vigor also recognizes that the transition from state spending and smokestack industries is years away, The Wall Street Journal reported. The annual budget and policy program, unveiled by the government Thursday, acknowledged China’s entrance to an era of slower growth and outlined the need for new sources of job creation by nurturing innovative small businesses.

A family-owned strawberry producer that has supplied fresh berries to Coles supermarkets for more than 40 years has collapsed into voluntary administration. Victorian-based Oz Fresh Farms called in administrators Ernst & Young on February 24, with Philip Campbell-Wilson and Adam Nikitins appointed to manage the administration process. Campbell-Wilson told SmartCompany Oz Fresh Farms is still trading and he intends to keep trading the business throughout EY’s appointment.

For most of her career, Mana Nakazora has taken a pre-dawn train to work regardless of whether she arrived home just hours earlier, Bloomberg News reported. Her colleagues describe BNP Paribas SA’s Tokyo head of investment research as a powerhouse, and she was Japan’s No. 1 bond picker from 2010 to 2012 and No. 2 for the last two years in Nikkei Veritas newspaper polls. Making it to the top in an industry whose corporate bond sales exceeded $70 billion last year can be tough.

Troubled Chinese property developer Kaisa Group announced an onshore debt restructuring plan involving 48 billion yuan ($7.6 billion) in a move aimed at restoring the financial and operational stability of the company. The debt plan, which would not entail changes in the guarantees, securities or outstanding principal claims, involves a reduction in interest payments and tenor extensions, the Shenzhen-based developer said in a stock exchange notice. Further details about the key terms and implementation of the onshore restructuring plan would be announced later, it said.

Hours after China's central bank cut interest rates to battle slowing growth and rising deflationary risk, an official survey showed on Sunday that activity in China's factory sector contracted for a second straight month in February, the International New York Times reported. The official Purchasing Managers' Index (PMI) inched up to 49.9 in February from January's 49.8, a whisker below the 50-point level separating growth from contraction on a monthly basis, but nevertheless above more pessimistic analyst forecasts for a 49.7 reading.

African Minerals said on Friday its Chinese partner in its sole asset, the Tonkolili iron ore project in Sierra Leone, has taken on some of its multi-million dollar debt and is demanding repayment, Reuters reported. The loan is secured against certain assets of the borrower and by taking ownership of the debt, Shandong is in a position that could allow it to take control of the project. "The borrowers and guarantors do not have sufficient funds available to make the payment demanded," African Minerals said in a statement on Friday.

The four of five bills comprising the insolvency framework will not be tabled to the House Plenary today, as the Budgetary and Interior Committees could not conclude the discussion of the four bills, Chairman of the Budgetary Affairs Committee Nicolas Papadopoulos has said, the Famagusta Gazette reported.

China’s superrich are nervously watching as the Chinese currency weakens against the dollar, The Wall Street Journal reported. Because of the extreme concentration of money at the apex of Chinese society, national stability rests to an extraordinary extent in the hands of just two million or so families. They are the top 1% of urban households, and already, their confidence in China’s future under President Xi Jinping is shaky.

Eighty-six years old and still job hunting. Wong Siu-ying had to stop passing out leaflets on a Hong Kong flyover when she hurt her knee in August. With two-thirds of her social security income spent on rent and no steady allowance from her three children, retirement isn’t an option, the Irish Times reported. “It isn’t enough,” Wong said of the roughly HK$2,200 ($284) a month she gets from the government, which provides a benefit to the elderly as a supplementary income, with the expectation families will pay for living expenses.

Japan's biggest airline, ANA Holdings Inc, said it was considering injecting capital into Skymark Airlines Inc as part of a rehabilitation plan for the bankrupt domestic budget carrier, Reuters reported. Besides ANA, other investors have also expressed interest in participating in a rescue package for Skymark, according to media reports and sources. Skymark holds valuable slots at Tokyo's crowded Haneda airport, making it attractive to potential investors. Skymark last month sought protection from creditors, blaming a weak yen and a dispute with jet maker Airbus Group for its financial woes.