A creditor of Jiangsu Delong Nickel Industry Co., one of the world’s largest stainless steel producers, has told a Chinese court the business controlled by legendary businessman Dai Guofang and his family needs to be restructured, Bloomberg News reported. A local court in Xiangshui County, Jiangsu province, is studying the application from the local state-owned builder, along with another three cases targeting the company’s affiliates, it said in a statement dated Wednesday.

China’s central bank took new steps to shore up the country’s sputtering economy, highlighting officials’ growing anxiety about growth only days after leader Xi Jinping set out his long-term vision to transform China into a technological powerhouse to rival the U.S. The People’s Bank of China said Thursday that it cut a key interest rate and pumped the equivalent of more than $25 billion into China’s banking system, the Wall Street Journal reported.

For years, high rollers from China have flouted their country’s ban on gambling by getting their fix online. Livestreamed games of baccarat, roulette, poker and more feature young women sitting behind tables, dealing cards and spinning wheels. While the players are in China, the croupiers on their screens are often far away in studios in the Philippine capital Manila, the Wall Street Journal reported. Filipino officials say many of these operations are also run and staffed by Chinese nationals.

A worrying run of data has dialed up calls for help to boost China’s economy. The central bank has answered with a flurry of rate cuts that analysts view as a welcome sign of action. But a number of restraints, from a weak currency to banks’ falling profitability, lead many to think that ultimately, it is fiscal policy that needs to come to the rescue, the Wall Street Journal reported. On Monday, the People’s Bank of China unexpectedly trimmed a key short-term policy rate for the first time since last summer, saying it aims to ramp up support for the economy.

Chinese leader Xi Jinping and other top Communist Party officials used 22,000 characters in laying out a blueprint for reviving the country’s flagging economy in the coming years and signaling an intention to rev up growth in the coming months. On some of the thorniest issues, however, the document had little new to say—fueling concern among some economists about the country’s longer-term prospects, the Wall Street Journal reported.

EU tariffs on electric vehicles built in China breach global trading rules and must be corrected, an industry body representing 12 Chinese automakers told the European Commission in a hearing this week, Reuters reported. The China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) presented its view at a hearing on Thursday that the EU's preliminary assessment is incompatible with EU and World Trade Organization rules. "We are very concerned.

Chinese leader Xi Jinping and several hundred other top Communist Party officials huddled in Beijing this week to plot a path forward for their country’s sagging economy, the Wall Street Journal reported. The outline they released after four days of meetings suggests a future that looks more or less like the present. That fidelity to China’s current course signals that Xi remains committed to his vision of state-led development, even as unease festers—among ordinary Chinese and foreign investors—over his stewardship of the world’s second-largest economy.

Chinese developer Hopson Development Holdings Ltd. has received a maturity extension of a loan from 2023 that backed the purchase of some commercial real estate space in a Hong Kong office building, Bloomberg News reported. Seatown Holdings Pte Ltd., a subsidiary of Singaporean sovereign fund Temasek Holdings Pte Ltd., has extended around $100 million to $115 million of a $165 million loan for Hopson. The developer had paid down a portion of the facility, originally due in May, to obtain a lower interest rate.

The World Trade Organization said on Wednesday that it was unable to get a clear picture of China's financial support for key industrial sectors, such as electric vehicles or aluminium and steel production due to an "overall lack of transparency," Reuters reported. The WTO noted that the world's second-largest economy gave financial support and other incentives to industries over the 2021-2024 review period but said that Beijing did not provide enough information for the WTO to have a clear picture of the programmes.

After Beijing ordered Chinese cities to buy newly-completed apartments and turn them into affordable housing, the first steps they took were to unveil plans to broaden eligibility for subsidies and fix other economic headaches in the process, Reuters reported. Chinese leaders issued the directive in May, aiming to alleviate a protracted property crisis, which has led to bloated inventories of unsold apartments that have crippled developers' cash flows and weighed heavily on home prices, consumer confidence and economic activity.