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Web Tsar in court for bribery

The Beijing police bureau's former Internet chief, involved in the largest ever national computer anti-virus industry scandal, stood trial at Beijing No 1 Intermediate Court yesterday for taking bribes of up to 14 million yuan. Yu Bing, 40, was the former head of the division of ...

Huang Guangyu sentenced to 14 yrs in prison

BEIJING - Former chairman of Chinese electronics retailer giant Gome Huang Guangyu was sentenced to 14 years in prison by a Beijing court Tuesday morning over illegal business dealings, insider trading and bribery. >

VW seeks new China chief as GM, Hyundai crank up competition

Volkswagen AG's new head of China will have a tough act to follow: current chief Winfried Vahland brought home a $1 billion profit for the German carmaker last year after reversing losses and a slumping market share. Vahland, who has overseen the China division for five years, is ...

Top BoCom exec moves to Chinese State fund

The No 2 executive of Bank of Communications is moving to a top job at Central Huijin, the domestic arm of China's sovereign wealth fund, five sources close to the situation said on Thursday. Bank of Communication (BoCom) deputy head Peng Chun will replace Xie Ping as general ...

Official forced to declare assets

Bureau chief comes clean to counter netizen's imaginative online post BEIJING - Zhang Li, an official in Central China's Hunan province, was forced to declare his assets, including five apartments, on Tuesday to prove his innocence after an alleged "impostor" posted the ...

Xie Xuren named Asia's best finance minister for 2009

BEIJING: The Emerging Markets magazine has named China's Finance Minister Xie Xuren as Finance Minister of the Year, Asia 2009, the Ministry of Finance said Monday at its website. The Emerging Markets believes that China's quick and proactive fiscal policies implemented in the ...

China's yuan central parity rate weakens agaist USD

BEIJING - The central parity of the Renminbi (RMB), or China's currency yuan, weakened to 6.7901 per US dollar on Tuesday from Monday's 6.7890, according to the data released by the China Foreign Exchange Trading System. On Monday, the central parity of RMB against the US dollar ...

Over 8.5 billion yuan donated to Yushu quake relief

BEIJING - The quake zone of Yushu in northwest China has received donations valued at over 8.5 billion yuan ($1.25 billion) as of Monday, with about 90 percent being in cash and the remaining in relief materials, said the civil affairs ministry. The ministry said in a statement ...

Property market sees sold-floor space up last week

Floor space transactions in the 35 cities monitored by China Index Academy went up last week (June 21 -27), the Shanghai Securities News reported Tuesday, citing a weekly report from the academy. Among the 35 cities, Ningbo of Zhejiang province witnessed the most robust growth in ...

China's stock market loses 2.5t yuan in H1

China's A-share stock market lost 2.5 trillion yuan by June 25 as the benchmark Shanghai Composite Index fell more than 700 points, or 22 percent, from the beginning of this year, China National Radio reported Monday. The Shanghai Composite Index fell all the way from 3,306.75 to ...

Brokers' income up on IPO underwriting

Chinese brokers cashed in 7.26 billion yuan from initial public offering (IPO) underwriting in the first half of this year, 36.54 percent higher than the industry's full-year income from the sector last year, the Securities Times reported Monday. A total of 172 companies went ...

Chinese banks' capital adequacy ratio hits 11%

The weighted average capital adequacy ratio of Chinese banks rose to 11.1 percent as of March 31 this year, from minus 2.98 percent at the end of 2003, Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC), said on June 26, 2010. China's banking sector is under ...

Yuan hits new record high against USD

BEIJING: The central parity of the RMB, or China's currency yuan, strengthened to 6.7890 per US dollar on Monday, a new record high, according to the data released by the China Foreign Exchange Trading System. On June 25, the central parity of RMB against the US dollar rose to 6...

350m migrant workers by 2050, report says

BEIJING - China's population of floating migrant workers reached a record 211 million by 2009 and will hit 350 million by 2050 if government policies remain unchanged, according to a report released on Saturday. The number, however, could increase at a slower rate if the number ...

E China's Jiangsu exports more textiles, clothing

East China's Jiangsu province exported $880 million worth of textiles, clothing and accessories in the first five months, a growth of 27.2 percent on the same period of last year, according to the provincial customs. Monthly exports for May were the highest since the beginning of ...

China rains, floods cause $12.1b loss

Rains and floods in southern China has caused an estimated economic loss of 82.4 billion yuan ($12.1 billion) and has displaced 4.54 million people, Office of National Flood Control and Drought Relief Headquarters said on its website. The disaster has killed 379 people and left ...

Chery's car exports up 259% in May

BEIJING: China's leading private automaker, Chery Automobile Corporation Ltd sold 8,053 motor vehicles abroad in May, a growth of 259 percent on the same month of last year, a company official said. From January to May, Chery's exports amounted to 30,100 units, up 171 percent ...

Banks' capital adequacy ratio gains to 11%

China banks' weighted average capital adequacy ratio rose to 11.1 percent as of March 31 from minus 2.98 percent in 2003, Liu Mingkang, chairman of China Banking Regulatory Commission, said at a financial forum in Shanghai on Saturday. China banks' bad loan coverage ratio was 170...

China's industrial profit up 81.6% in Jan-May

BEIJING - Profits of China's industrial enterprises jumped 81.6 percent year-on-year for the first five months this year, China's National Bureau of Statistics (NBS) said Friday. Profits of the industrial firms totaled 1.54 trillion yuan ($226.82 billion) from January to May, and ...

HK records HK$25b in trade deficit in May

HONG KONG - A visible trade deficit of HK$25.1 billion was recorded in May, with the values of total exports and imports of goods both showing significant year-on-year increases at 24.4 percent and 29.7 percent, Hong Kong's Census and Statistics Department said Thursday. Vibrant ...

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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