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China to shift to prudent monetary policy next year

BEIJING - China will shift its monetary policy stance from relatively loose to prudent next year, the Political Bureau of the Communist Party of China (CPC) Central Committee decided Friday. The meeting, chaired by President Hu Jintao, also general secretary of the CPC Central ...

Beijing sets sights on taming inflation

China says more prudent monetary policy will be needed next year BEIJING - China pledged on Friday to tighten its monetary policy next year, shifting from its "moderately loose" stance to a more prudent one as the central government steps up efforts to tame rising inflation and ...

China plans gradual residential property tax: MOF

China will gradually introduce a residential property tax during the next Five-Year Plan (2011-2015), a tax official from the Ministry of Finance (MOF) said Thursday. Zhou Chuanhua, director of the Tax Policy Department of the MOF, said at a meeting that a property tax reform ...

Property prices remain high

Officials from the Ministry of Housing and Urban-Rural Development said soaring property prices are expected to remain constant over the next two years. While government measures to control the property market are not immediately apparent, prices will stabilize as the land supply ...

Only 20% expect a higher year-end bonus

Only 20 percent of employees expect their year-end bonus will be more generous than last year's, while the inflation mounted to 4.4 percent, according to a survey by Chinese-language newspaper National Business Daily. Among the 80 participants of the survey, 46.68 percent said ...

Growth in high earners as wealth gap stretches wider

BEIJING - Five percent of China's total population now have annual incomes of at least 300,000 yuan ($45,000) after tax, according to new research. Results of a study carried out in more than 10 major cities show roughly 50 million Chinese have passed the 300,000-yuan mark, while ...

China standardizes purchases of essential drugs

BEIJING - China will standardize the purchase of essential drugs at government-funded grass-root hospitals and clinics, in a bid to reduce patient healthcare costs, an official statement said Thursday. The provincial-level platforms for the centralized procurement of essential ...

China promises better protection of IPR

BEIJING - A government official said Thursday that China's crackdown on infringements of intellectual property rights (IPR) had scored successes and China will work harder to protect the rights and interests of Chinese and foreign trademarks. Since the Chinese authorities ...

Chinese bicycle makers urge EU to drop anti-dumping duties

BRUSSELS - Chinese bicycle makers Thursday urged the European Union (EU) to drop anti-dumping duties which have been imposed on their products for 17 years. "The EU bicycle industry does not merit the protection of further extension of anti-dumping measures targeting Chinese ...

China woos private, foreign capital to reform healthcare

BEIJING - China is encouraging greater private and foreign capital involvement in the nation's hospitals and clinics as part of a health system reform program that aims to make affordable healthcare available to China's 1.3 billion people. The State Council, China's cabinet, ...

SASAC denies overseas losses report

Overseas investments have generated large profits for China's central enterprises, an official from the country's state-assets watchdog said, responding to a media report that overseas State-owned assets are suffering huge losses, the National Business Daily (NBD) reported ...

Minister warns on urgent need for land conservation

BEIJING - The national imbalance between land supply and demand for construction will increase over the next five years as China's industrialization and urbanization maintain rapid pace, Minister of Land and Resources Xu Shaoshi said. "The country's annual land supply for ...

Nov consumer confidence rebounds as govt fights inflation

BEIJING - The consumer confidence of Chinese bankcard holders rebounded slightly in November after the government introduced a range of steps to keep prices in check, according to an index released Thursday. The Bankcard Consumer Confidence Index (BCCI), compiled by Xinhua News ...

Public irate about villa subsidies for rich

SHANGHAI - A new policy in Hangzhou, East China's Zhejiang province, that gives housing allowances to the rich and famous to attract and retain "talent" has come under fire. Under the policy, which was first revealed by the 21st Century Business Herald on Tuesday, experts, ...

China to float 30-yr T-bonds at yield of 4.23%

BEIJING - China's Ministry of Finance said on Wednesday that it will sell a batch of 30-year long-term book-entry treasury bonds this week at a yield of 4.23 percent. The bonds, with a total face value of 28 billion yuan ($4.2 billion), will be sold over five days starting ...

China, EU discuss non-proliferation co-op

BEIJING - Around 100 government officials, experts, scholars and business representatives from China and the European Union gathered in Beijing from Monday to Wednesday, exchanging views on non-proliferation export control policies. They also discussed issues such as export ...

China raises the compensation rate of work-related injuries

BEIJING - China has raised the compensation to be paid through work-related injury insurance during a regular meeting of the State Council chaired by Premier Wen Jiabao on Wednesday. Regulation on Work-related Injury Insurance and the measures for the control of invoices were ...

China strengthens auditing on heads of State-owned firms

BEIJING - China has issued a regulation on auditing economic responsibilities of government and Communist Party officials and managers of State-owned enterprises. According to a statement issued by the National Audit Office Wednesday, the auditing is to evaluate the performance ...

China links world with its high-speed rail technology

BEIJING - "Building roads before building wealth," a widely known slogan in China, was cited by Lao Deputy Prime Minister Somsavat Lengsavad. Lengsavad was referring to a planned high-speed railway for his country. As an inland country, Laos wants to counter its disadvantages of ...

US envoy says China seriously dealing with carbon emissions

CANCUN, MEXICO - China is certainly making serious efforts to deal with carbon emissions, US Special Envoy for Climate Change Todd Stern said Wednesday, adding he has "enormous respect" for what China is doing domestically. Stern told reporters that he knew China is doing a great ...

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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