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Macao's Forex Reserves Reach $23.92 Bln in January

The preliminary estimate of the Macao SAR's foreign exchange reserves amounted to 192 billion patacas (23.92 billion U.S. dollars) at the end of January 2011, according to the figures released on Tuesday by the Monetary Authority of Macao. The reserves for January rose by 0.9 ...

China Continues to Offer Tax Preferences to Small Firms This Year

A small business in China only needs to pay half of income tax if the amount of its due tax is 30,000 yuan (4,550 U.S. dollars) or lower annually, according to a policy announced Tuesday. Additionally, the income tax rate will be set at 20 percent for these businesses, compared ...

China's Energy Consumption Per Unit of GDP Drops 4.01 Pct in 2010

China's energy consumption per 10,000 yuan (about 1,520 U.S. dollars) of gross domestic product dropped 4.01 percent year on year in 2010, said the National Bureau of Statistics (NBS) Monday. China's annual energy consumption totaled 3.25 billion tonnes of standard coal last year...

ABAC: Chinese Economy Expects Strong Growth due to Increased Inflation Pressure

According to an economic outlook report from an Asia Pacific Economic Cooperation (APEC) business advisory body, China's economy is expected to remain strong in 2011, but inflationary pressures are likely to rise further due to rising food prices. According to the report, Chinese ...

Shanghai Targets 70 Pct Growth in Tourism Revenues by 2015

Shanghai has set a growth target of 70 percent in tourism revenues over the next five years to 2015, local authorities said on Wednesday. The target is in line with the goal of China's financial and business center -- turning itself into a world-famous tourist destination, ...

Ministry Says to Ensure Necessities' Supply to Stabilize Prices

China's Ministry of Commerce (MOC) said that it would take measures to ensure supply of daily necessities that have been threatened by rising global commodity prices and a lingering drought. MOC officials made the remarks at a routine press conference, adding that as the ...

Officials Say Review of Foreign Takeovers Good for Chinese and Foreign Firms

China's new rules for reviewing proposed mergers and acquisition (M&A) deals by foreign firms on grounds of national security would benefit both Chinese and foreign investors, a Ministry of Commerce (MOC) spokesman said Thursday. The rules will facilitate the growth of foreign...

China to Improve Regulation of Total Social Financing: Central Bank

China is looking to establish an effective regulatory system for total social financing, an official with the country's central bank said . The new bank lending volume does not completely reflect the relationship between finance and the economic conditions and the actual ...

China Stresses Economic Stability amid Complicated Situation in 2011

China's top leading body Monday pledged to prevent wild swings in the economy, while warning that the economic situation in 2011 would be complicated. The country should maintain stable and consistent macro-economic policies while improving accuracy, flexibility and efficiency of ...

Hong Kong's CPI Rises 3.6 % on Food, Private Rentals in Jan.

Hong Kong's overall consumer prices rose 3.6 percent in January over a year earlier, higher than 3.1 percent in December, mainly due to the enlarged increases in the price of food and private housing rents, local authorities said on Tuesday. Netting out the effects of the ...

China to Let 20 More SOEs Fully Exit Real Estate Business This Year

More than 20 centrally administered state-owned enterprises (SOEs), whose core business is not property, will fully exit the real estate business this year. Shao Ning, deputy chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC)...

Mainland Chief Negotiator Arrives in Taiwan Leading Business Delegation

A Chinese mainland business delegation led by Chen Yunlin, president of the Association for Relations Across the Taiwan Straits (ARATS), arrived in Taiwan Wednesday noon for a six-day trip of business exchanges. Chen was greeted by Kao Koong-lian, vice chairman of Taiwan's ...

China's Central Bank Customizes Reserve Requirement Ratios for 40 Local Banks

The People's Bank of China (PBOC), or the central bank, said on Tuesday that it has implemented "dynamically differentiated required reserve ratios" among 40 local banks with low capital adequacy ratios (CAR) and which witnessed rampant growth in lending since January. A PBOC ...

More China Cities Move to Limit Home Purchases

Three big Chinese cities Thursday unveiled new rules to restrict home purchases in the latest efforts to rein in rapidly rising housing prices. The governments of Nanchang, Jinan and Yinchuan, all provincial and autonomous regional capitals, prohibited new home purchases by ...

HK Sees Strong Goods Trade Growth in January

Hong Kong's goods exports rose 27.6 percent year-on-year in January to 283.7 billion HK dollars (about 36.4 billion U.S. dollars) while the imports increased 19 percent over a year earlier to 299.6 billion HK dollars, the authority said Thursday. According to Hong Kong's Census ...

China's SOE Donations Hit 4.199 Bln Yuan in 2010

Charitable donations from 110 centrally administered state-owned enterprises (SOEs) totaled 4.199 billion yuan (638.19 million U.S. dollars) last year, official data showed on Thursday. The data released by the State-owned Assets Supervision and Administration Commission of the ...

Construction Starts on China's First Low-speed Maglev Line

Construction began on China's first low-speed maglev line Monday in Beijing, a project that will make China only the second country with a low-speed maglev line after Japan. The project marked China's ability to industrialize low-speed maglev technologies, said Chang Wensen, ...

China's Manufacturing Growth Continues to Slow in February

China's manufacturing growth continued to slow in February, giving temporary support to the nation's fight against inflation, as the purchasing managers index (PMI) marked three consecutive months of decline. The country's manufacturing sector PMI, a key measure of the industrial ...

Beijing Home Sales Slump in Feb. Following Purchase Restriction

Beijing saw sharp declines in home sales in February following the enacting of a group of measures to cool the housing market, local authorities said Tuesday. The city reported sales of 3,436 new homes, down 70 percent from the sales figure in January, said Beijing's real estate ...

China to Further Expand Cross-border Yuan Trade Settlement across the Country

The People's Bank of China (PBOC), the central bank, announced on Wednesday that it would further expand trial cross-border yuan trade settlements across the country this year. The market demand for yuan cross-border use is expected to climb, along with the increasingly close ...
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