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Fortune 500 bosses slam housing for pricing out residents

The soaring housing price in Beijing has drawn the attention of Fortune 500 CEOs, with some claiming it has damaged the capital-'s economic health and forced university graduates out of the city. "There is no value in building one of the world's most desirable cities if working ...

Chinese state councilor stresses international tourism co-op

BEIJING: Chinese State Councilor Liu Yandong has called for more efforts to promote international exchanges and cooperation in tourism. Liu made the remarks at the opening ceremony of the 10th Global Travel and Tourism Summit in Beijing Tuesday. Tourism was a promising and green ...

Sudan, China agree to enhance health care co-op

KHARTOUM: Sudanese and Chinese Ministries of Health on Wednesday agreed to enhance cooperation between them in the health fields, and to study a memo of understanding to be signed by the two sides later in Beijing. "We are working to enhance the longstanding relation between us ...

Chinese economy facing downside risk

BEIJING - The Chinese economy is facing a downside risk due to uncertainties brought by the European debt crisis and the country's recent tightening measures, while an economic hard landing is highly unlikely, a senior analyst at a government think-tank said on Wednesday. "The ...

China opposes US penalties on steel gratings

BEIJING: China opposes the US decision to set final duties of up to more than 200 percent on imports of steel gratings from China, the Ministry of Commerce (MOC) said in a statement on Wednesday. This came after the US Commerce Department Tuesday announced final anti-dumping ...

Limits on resource exports in line with WTO rules: experts

BEIJING: China's curbing of exports of some raw materials to protect the environment and reduce its trade surplus is in line with World Trade Organization (WTO) rules, experts say. In its biennial review of China's trade policies, the WTO alleged Monday China may be giving its ...

Local govts await approval for property tax

China's central government is considering selecting two cities from Hunan and Hubei provinces, respectively, for a pilot program for property tax collection on commercial real estate, China Securities Journal reported recently. The property tax is considered a further measure to ...

Real estate developers to face financial difficulties: report

BEIJING: China's property developers will have financial difficulties in the future as the liability ratio of 13 of the country's top 50 listed developers had already exceeded 70 percent, Wednesday's Shanghai Securities News reported. The government's recent property market ...

Europe debt crisis not to impact badly on China: expert

BEIJING: Europe's debt crisis will not cause another global financial crisis and neither dampen demand for Chinese exports in the long run, Wednesday's People's Daily cited an adviser to the Chinese central bank as saying. Li Daokui, a Tsinghua University professor and a member ...

China has promising growth prospects: economist

BEIJING: China has promising growth prospects and should not be blamed for world imbalances, says Danny Quah, a renowned British economist. "Emergency financing that was placed in the Chinese economy to counter the downturn from the 2008 global financial crisis was the right ...

Cheap labor has limits in manufacturing industry

BEIJING: Global manufacturers struggling with life-or-death pressures to control costs are finding that the legions of low-wage Chinese workers they rely on have limits. Analysts at the All-China Federation of Labor in Beijing said recent labor disputes indicated that it was ...

Govt not ready to pull plug on trade-in subsidy

Beijing municipal government has extended its subsidy program for household electrical appliances to continue boosting consumption. The scheme was put into practice in the capital in August 2009 and was originally set to end on May 31. However, major electrical appliance ...

Chinese investment in Russia to rise $10b by 2020: report

MOSCOW: Chinese investment to Russian economy will rise from the current $2 billion to $12 billion by 2020, Russia's RBC news agency reported on Tuesday, citing the figures released by Russian Ministry for Economic Development. According to the ministry, Russia would allow ...

Border town bustling with business as Sino-Mongolia trade takes off

ERENHOT, Inner Mongolia: Compared with any port along the prosperous east coast of China, trade figures at the land port of Erenhot, a small Gobi town on the China-Mongolia border, are meager. However, about 800 cars, 200 trucks, six trains and 4,000 traders cross the border each ...

Government tightens controls on rare earths

BEIJING - Strategic rare earth minerals will only be mined by a few select State-owned enterprises (SOEs) as part of the government's bid to crack down on illegal exploitation and consolidate reserves, according to sources close to the matter. The Ministry of Industry and ...

PBOC to promote yuan settlement in Xinjiang trade

BEIJING - China's central bank will push forward yuan settlement in cross-border trade and investment in the western Xinjiang Uygur autonomous region, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), said Tuesday. Zhou said it was one of PBOC's important moves amid ...

China confiscates 112m fake invoices in Jan-May

BEIJING - Chinese police have confiscated more than 112 million fake invoices so far this year, 20 percent more than the total for the whole of last year. "Police dealt with a total of 2,386 cases in the last five months and arrested 3,686 people, cleaned out 1,227 criminal ...

Luxury home prices strong but volume of deals declines

BEIJING: Prices of Shanghai's luxury residential properties remained strong over the past one-and-a-half months although transaction volume plunged amid weak market sentiment caused by a state-level crackdown on speculation in China's overheated housing market, according to a ...

China eases control over domestic airfare pricing

BEIJING: Chinese airlines can decide the price of first- and business-class fares for domestic flights as of Tuesday, according to a new regulation issued by the Civil Aviation Administration (CAA) and the National Development and Reform Commission (NDRC). Previously, first- and ...

China may unveil private equity regulations this year

China may release regulations on private equity funds this year, the Shanghai Securities News reported today, citing an announcement from the National Development and Reform Commission yesterday. Private equity funds will no longer be required to file notification with the NDRC ...

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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