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China banks slow lending due to quota limits

Chinese banks have slowed their pace of lending after almost depleting this year's quota and as regulators urged them to control credit expansion toward the year-end, Reuters reported on Dec 2, citing the Shanghai Securities News. Some branches of Chinese banks have already ...

Mainland may open interbank bond market to HK insurers

The Chinese mainland is studying plans to allow Hong Kong insurers to invest in its interbank bond market and for mainland companies to issue yuan bonds in Hong Kong, as part of efforts to internationalize its financial markets and the yuan, Reuters reported on Dec 1, citing Hong ...

China to issue 32b yuan book-entry T-bonds

BEIJING - China's Ministry of Finance said Wednesday it would sell 32.1 billion yuan ($4.8 billion) of five-year book-entry treasury bonds beginning on Thursday. The bonds, the 39th batch to be floated this year, carry a fixed interest rate of 3.64 percent and will be sold to the ...

Foreign firms' path to the A-share market eased

BEIJING - Chinese authorities are accelerating the process to allow overseas companies to float shares in the domestic A-share market as a way to ease the country's mounting pressure of "hot money" inflows. "The international board will be launched some time next year, hopefully,...

GIC, OCBC join group buying Morgan Stanley's CICC stake

Singapore's GIC and OCBC's insurance arm have joined a group led by US private equity firms KKR and TPG that is buying Morgan Stanley's 34.3 percent stake in top Chinese investment bank China International Capital Corp (CICC), Reuters reported on Dec 2. It is reported that the ...

Hong Kong stocks close 1.05% higher

HONG KONG - Hong Kong stocks closed up 241.81 points, or 1.05 percent, at 23,249.80 on Wednesday. Turnover dropped to HK$89.02 billion from Tuesday's HK$101. 01 billion ($1 equals to HK$7.766).

China's stocks down, led by weak bank shares - Aug 3

BEIJING - China's stocks fell on Tuesday, led by drops of banks on concerns that the government would not relax its curbs on bank lending in spite of an economic slowdown. The benchmark Shanghai Composite Index slid 1.70 percent, or 45.51points, to end at 2,627.00 points. The ...

Property sales defy cooling measures

Home prices in city rise more than 30% from previous year SHANGHAI - A total of 207 billion yuan ($31.4 billion) worth of residential properties were traded in Shanghai in 2010, or 2.60 million yuan per unit, despite the central government's efforts to cool the housing market, ...

Fast-food prices rise as cost of materials increases

BEIJING - Amid a surge in raw-material costs in China, competition among foreign restaurant chains in the country is turning fiercer, as some increase prices and others carry out special promotions. However, experts said improvements in the taste and quality of the food are the ...

China's newspaper circulation to exceed 50 billion

BEIJING - China's newspaper circulation in 2010 was expected to surpass 50 billion, rising 13.9 percent year-on-year and continuing to rank first in the world, said a senior Chinese publication official Monday. Liu Binjie, director of the General Administration of Press and ...

Curbing inflation high on China's economic agenda in 2011

BEIJING - Chinese President Hu Jintao, in a recent speech made while celebrating the New Year with political advisors, reiterated China's stepped-up efforts to stabilize prices in 2011.A week earlier, Chinese Premier Wen Jiabao, in a live chat over radio with listeners on Dec 26, ...

New old-age pension promises dignified life for seniors in China's rural areas

BEIJING - A new old-age pension for China's rural senior citizens is giving them economic independence.Long Chengde, 69, from Quzhou county in north China's Hebei province smiles as he holds a gray deposit book. In 2010, Long and his wife received 1,320 yuan ($about 200), or 55 ...

High-tech industrial zones take lead in industrial innovation

BEIJING - China's 56 leading high-tech industrial zones have led the country's industrial innovation, playing an important role in the nation's social and economic development, a government statement said on Jan 1.The statement came from the Ministry of Science and Technology's ...

Hainan kicks off tax refund program for overseas visitors

HAIKOU - Overseas visitors can now claim tax refunds on purchases in south China's island province of Hainan as the rebate plan went into effect on Jan 1.Deputy governor of Hainan Tan Li announced the inauguration of the tax refund scheme on the morning of Jan 1 at Shengsheng ...

Mainland, Taiwan jointly reduce import tariffs to implement landmark trade pact

BEIJING/TAIPEI - The Chinese mainland and Taiwan Saturday moved the first step in furthering their economic ties by implementing the "early harvest program" of the Economic Cooperation Framework Agreement (ECFA).Under the program, the Chinese mainland reduces tariffs on 539 ...

China expects further rate hikes to cool property market

BEIJING - The new year may be tough on people who plan to buy homes and those who already bought homes using bank loans, as China is very likely to announce new interest rate hikes this year after two increases in 2010, which will add to the financial burdens of home buyers. "I ...

HK may lift ban on mainland maids

SHENZHEN, Guangdong - Hopes are mounting that the Hong Kong Special Administrative Region's government will lift its ban on mainland maids after a caregiver from the southern boomtown recently received the first Hong Kong work permit. Xu Qingling, 44, became Shenzhen's first Hong ...

Further growth projected for China's flourishing entertainment industry

BEIJING - China ranks third in the world for its prolific output of film and television productions, a senior media official said. Wang Taihua, director of the State Administration of Radio, Film and Television (SARFT), said in a recent interview that more than 500 films were ...

Booming home service sector to create more jobs

BEIJING - The booming home service sector in China would "effectively" create more jobs in the coming years, said a official in Beijing on Sunday. Cui Yu, director-general of the Department for Women's Development under the All-China Women's Federation, said China's aging society...

County focus to ensure food safety

BEIJING - The central government will invest more to improve county-level quality inspection centers to ensure food hygiene over the next five years in response to a number of incidents, a senior official said. Of the 2,862 county-level quality inspection centers nationwide, less ...

Latest World News

world

Chicago unveils Chinese New Year celebrations
Chicago unveils Chinese New Year celebrations
CHICAGO -- Chicago held a ceremony Friday at the landmark Daley Civic ...
UN chief, Syrian FM in verbal clash at conference
UN chief, Syrian FM in verbal clash at conference
The first day of the peace conference in Montreux, was marked by ...
Chaos on streets after three reported killed in Kiev
Chaos on streets after three reported killed in Kiev
Three people have reportedly been killed in Ukraine's capital Kiev ...

market

finance

Panel to push financial reform in FTZ
Panel to push financial reform in FTZ
Financial reform in the China (Shanghai) Pilot Free Trade Zone will ...
Economist sees world economy strengthening in 2014
Economist sees world economy strengthening in 2014
NEW YORK, Jan. 24 (Xinhua) -- Global economy is likely to gain ...
China economic reform in focus at World Economic Forum
China economic reform in focus at World Economic Forum
There’s been much talk of China at the World Economic Forum-and a ...

company

industry

China's banks must evolve or perish
China's banks must evolve or perish
As China's traditional banks raise interest rates to claw back lost ...
Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...
Chinese steelmakers see profits plunge
Chinese steelmakers see profits plunge
China's 77 major steel companies reported an average profit margin of ...

trade

sports

Injured star short-track skater Wang Meng left out of China's squad for Sochi
Injured star short-track skater Wang Meng left out of China's squad for Sochi Winter Games
Injured Olympic champion Wang Meng has been ruled out of the 139...
Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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