China has limited room for further monetary policy easing, and it should pursue structural reforms such as encouraging entrepreneurs rather than counting on macroeconomic policies to revive growth, a central bank adviser said on Sunday, Reuters reported. Liu Shijin, a member of the People's Bank of China's (PBOC) monetary policy committee, told a financial forum in Shanghai that Beijing's room for monetary policy easing was limited by widening interest rate differentials with the U.S. Fiscally, Chinese governments at various levels are under stress, he told the annual Bund Summit conference.

BCC has filed for bankruptcy and the administrators of the electronics chain informed its employees on Thursday morning, NL Times reported. The court granted BCC a deferment of payment last week. The electronics chain has 58 stores, an online shop, and around 1,300 employees. If the court declares BCC bankrupt, the bankruptcy administrators can start working on a possible restart, potentially saving some of the jobs. The electronics chain has been struggling with financial problems.

Bank of Japan Gov. Kazuo Ueda, defying speculation about a near-term rise in interest rates, said Japan couldn’t yet be confident of sustainable inflation backed by strong wage growth, although prices are currently rising faster than the central bank’s 2% target, the Wall Street Journal reported. He said he planned to keep a benchmark short-term interest rate in negative territory for now—the same place it has been since 2016.

Indian budget carrier Akasa Air has been forced to cut flights in the short-term after many of its pilots quit abruptly, sparking a legal dispute in court where the company has warned that further resignations may even force it to shut down, Reuters reported. A small set of pilots "abandoned their duties" and left without serving their mandatory contractual notice period, causing a disruption of flights, but the airline is on course to invest in growing its operations and ordering more planes, CEO Vinay Dube told employees in an email on Tuesday.

China's economic slowdown is polarising government advisers over the best way forward, with advocates of structural reforms now emerging from the shadows in a challenge to others calling for more state spending to shore up faltering growth, Reuters reported. The rare debate among advisers, who influence policy-making but do not wield direct power, comes as global markets scramble for clues on how authorities will halt a downturn that has left millions without jobs, forced investors to flee and the yuan to tank.

Turkey’s central bank delivered another sizable interest-rate hike, matching expectations but disappointing a market that was pricing in more aggressive moves to curb inflation running at almost 60%, Bloomberg News reported. The lira reversed gains after the Monetary Policy Committee raised rates for a fourth straight time to bring its benchmark to 30% from 25%.

China will speed up the introduction of more policies to consolidate its economic recovery, state media CCTV reported on Wednesday, citing a cabinet meeting chaired by Premier Li Qiang, after the economy showed tentative signs of stabilising, Reuters reported. With a flurry of support steps kicking in, the $18 trillion economy showed better-than-expected figures including bank lending, industrial production and consumption gauges last month, but the wobbling property sector still weighs on its economic outlook.

New Zealand’s economy probably emerged from a shallow recession in the second quarter as a surge in immigration fueled growth, Bloomberg News reported. Gross domestic product increased 0.4% in the three months through June, according to the median estimate in a Bloomberg survey of economists. From a year earlier, the economy expanded 1.2%, the survey shows. Statistics New Zealand publishes the report at 10:45 a.m. Thursday in Wellington.

Chinese developer Sunac China Holdings has filed for chapter 15 protection from creditors in a U.S. bankruptcy court, court documents showed, Reuters reported. Creditors of Sunac China Holdings approved its $9 billion offshore debt restructuring plan on Monday, marking the first approval of such debt overhaul by a major Chinese property developer.

China’s giant housing industry is lurching into a new crisis that threatens to be the country’s worst yet, the Wall Street Journal reported. Two years ago, the debt-laden developer China Evergrande Group spiraled into insolvency, bursting the country’s real-estate bubble and setting off a chain of developer defaults and business losses. The industry’s troubles have dragged down China’s economy. Now China’s largest privately run property developer, Country Garden, is struggling to survive.