Bill Gross, who runs the world's biggest bond fund at Pacific Investment Management Co., said Chinese growth is likely to be hurt by an absence of consumer demand from trading partners such as the U.S.

China's yuan is undervalued by 20 percent, a Reuters poll shows on Friday, highlighting the case of President Barack Obama who this week pressed Beijing to allow the currency to rise.

China is passive on the value of the U.S. dollar as the level doesn't affect the nation's economy, central bank Governor Zhou Xiaochuan said, rebuffing criticism that the government is devaluing the yuan.

U.S. Treasury Secretary Timothy Geithner said he's “quite confident” China will move to relax controls on the value of the country's currency, the yuan, as its economy becomes less reliant on exports.

China thwarted efforts by the U.S. and the European Union to have World Trade Organization judges probe Chinese restrictions on raw-material exports, delaying for a month their complaint that the levies are discriminatory.

Hong Kong Exchanges & Clearing Ltd.'s Chairman Ronald Arculli said asset bubbles may be looming in Asia amid burgeoning stock and property prices.

China, the world's second-biggest energy user, will increase the price of electricity for nonresidential users by 0.028 yuan (0.4 cent) per kilowatt-hour on average starting tomorrow, the official Xinhua News Agency reported, citing the National Development and Reform Commission.

China Investment Corp. bought a HK$5.5 billion (US$710 million) stake in the nation's biggest producer of polysilicon as the sovereign wealth fund invests in energy and commodities companies to hedge against inflation.

Iron ore output in China, the largest consumer of the steelmaking ingredient, may jump to a record this year as government stimulus spending spurs demand.

Commercial Aircraft Corp. of China plans to build an assembly line for its homegrown C919 jetliners in Shanghai, the latest step in the country's ambitions to become a leader in world aviation.