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15 foreign information providers approved to operate in China: China approved another 15 foreign agencies' applications to publish financial information in China this year, bringing the total number to 25, the State Council Information Office (SCIO) said Thursday. Wang Chen, director of the SCIO, told a press conference that leading global ...

CBRC: Banks need protection: China needs to strengthen supervision over "too big to fail" banks as slower economic growth is possible next year and there are still uncertainties in the global market, said Liu Mingkang, chairman of the China Banking Regulatory Commission. "China's banking standards, ...

6 Taiwan banks approved to open mainland branches: The Chinese mainland has approved the applications of six Taiwan-based banks to open branches on the mainland, a mainland spokesman said Wednesday. The mainland has also given approval for four other Taiwan banks to establish representative offices on the mainland, Yang Yi, the ...

Insurers' profits to rise 25% in 2010: Chinese insurers are expected to report a 25.1 percent increase in profits to 57.6 billion yuan ($8.69 billion) this year, Wu Dingfu, China Insurance Regulatory Commission (CIRC) chairman, said on Tuesday. According to the CIRC, the country's premium income in the first 11 months ...

Here comes the loan arranger: The potential of the Chinese micro-credit market has attracted the attention of private capital searching for higher rates of return, and provides business opportunities for micro-finance service companies. "The scale of China's micro-credit market will reach more than 10 ...

Construction bank in, ING out: China Construction Bank, the fourth largest bank in China, has become the majority shareholder in Pacific-Antai Life Insurance Co following its acquisition of an additional 1 percent share, raising its total shares to 51 percent Tuesday. The final 1 percent stake was bought from ...

China to put stabilizing prices in more prominent position: The People's Bank of China (PBOC), the country's central bank, reaffirmed Monday that it would give more prominence to stabilizing prices, and implementing a prudent monetary policy during the next year. Further, China will make its monetary policies more targeted, flexible, and ...

Thai central bank to set up office in Beijing: Bank of Thailand, the country's central bank, plans to set up a representative office in Beijing in the first half of next year. This new office will be the central bank's third one in the world after New York and London, Bank of Thailand Governor Prasarn Trairatvorakul told ...

Taiwan banks begin to take an interest in the mainland: Banks from Taiwan have started to develop their businesses on the mainland. The Bank of Taiwan and First Commercial Bank both signed comprehensive cooperation agreements with Bank of China (BOC) on Friday. The banks will cooperate with BOC in several areas, including their main ...

Chinese banks' Nov. forex surplus hits US$45.3 bln: The surplus of Chinese banks' foreign exchange purchases over sales in client transactions in November totaled 45.3 billion U.S. dollars, the State Administration of Foreign Exchange (SAFE) said Friday. Chinese banks' November foreign exchange surplus was the second highest ...

China's global IPO sales top US$117.9b: China leads the global market for initial public offerings this year while the international board expected to be set up in 2011 may also significantly boost IPO fundraising, according to Ernst & Young executives in Shanghai yesterday. The auditing firm sees global IPOs to reach ...

Land sales are likely to soar: China's land sales may top 2 trillion yuan ($302 billion) this year as the nation tries to control rising home prices. Analysts said that surging land sales would be detrimental to the nation's economic health and the government must work to keep them low. The new prediction ...

Air China, China Eastern Q3 profits rise: Air China Ltd. and China Eastern Airlines Corp., China's biggest and third-largest carriers by market value, both reported record quarterly profit growth on the back of robust growth in domestic air travel and a strong yuan. Air China said late Thursday its third quarter net ...

Brazilian August ethylene contracts expected to be flat to July: In Brazil, ethylene contract prices for August should be at the same levels compared to July, said a source Friday. Even though prices went up Eur12/mt in July due to the exchange rate between the dollar and reals, the Brazilian contract for ethylene may be without any movements. ...

Stronger yuan to pep up domestic air carriers: Airline shares surged on the Shanghai Stock Exchange on Monday, on anticipation that their US-dollar-denominated overseas debts would shrink considerably after the central bank signaled an end to the currency's peg to the dollar. The People's Bank of China indicated during the ...

Foreign firms bet on larger consumption: Chinese consumers unnerved by escalating industrial closures in the West are becoming increasingly cautious about spending money, according to one leading foreign multinational company. The fears of a consumer slowdown were expressed as the National People's Congress (NPC) and ...

Cultural industry likely to flourish under State plans: More than 100 companies in China's cultural industry are expected to go public in the next five years, accounting for a much bigger part of the total GDP, as the government designates that sector a pillar industry, government officials and industry experts say. The cultural ...

Tourists bank on weak euro: Married for less than two years, 29-year-old Zhang Jia, a secretary at a multinational company, is planning her second honeymoon because, as she said, a vacation in Europe now seems affordable after the rise in the value of the yuan against the euro. A typical group tour, ...

China's Yuan Advances to 6.6466 per USD Wednesday: The value of yuan gained as the central parity rate of Renminbi, China's currency, was set at 6.6466 per U.S. dollar Thursday, compared with Wednesday's 6.6548, according to the data released by the China Foreign Exchange Trading System. At present, the yuan is allowed to float ...

Gold Recognised as "Reference Point" to Monetary System Reform: World Bank President Robert Zoellick reaffirmed his proposal to use gold as a "reference point" to reform the current international monetary system on Wednesday in Paris. "What I suggested is that gold serves as a key reference point to allow people to assess the relations ...

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China's reform leading group holds first meeting: BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...

China stocks close higher over liquidity injection: BEIJING, Jan. 21 (Xinhua) -- Chinese shares rose on Tuesday after the ...

China slams Japan's NHK governor's denial of Nanjing massacre: BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...

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China cuts retail oil prices: BEIJING, Jan. 24 (Xinhua) -- China's top economic planner announced on ...

Canada's main stock index tumbles over asset loss in emerging markets: TORONTO, Jan. 24 (Xinhua) -- Canada's main stock index fell sharply on ...

GM China chairman to retire: CHICAGO, Jan. 24 (Xinhua) -- General Motors Co. announced Friday that ...

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Super car club in commercial drive: On the night of Nov 11, more than 150 super cars were driven into the ...

China's banks must evolve or perish: As China's traditional banks raise interest rates to claw back lost ...

Chinese leader calls for more marine power: Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...

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Stars 'Big Three' fall short of title in 1st year: Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...

Injured star short-track skater Wang Meng left out of China's squad for Sochi: Injured Olympic champion Wang Meng has been ruled out of the 139...

Fourteen countries expected to compete in Cuba's wrestling tourney: Some 14 countries and regions are expected to compete in the 45th ...

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