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Foreign investment formalities put online: Guangzhou has become China's first city to introduce a Web-based system for foreign investors to complete formalities for their business. The city's Industry and Commerce Administration has also opened a microblog for foreign business registration, with daily updated instructions ...

Carrefour strengthens price monitoring to restore image: French retail giant Carrefour announced on Wednesday the establishment of a "price center" at one of its China stores to improve supervision of prices after being accused of overcharging customers. At the price center located at Carrefour Xinshi Store in Guangzhou City, south ...

China expands cross-border yuan trade settlement trial: China's central bank late Monday announced a dramatic expansion of its pilot program for cross-border yuan trade settlement to 67,359 exporters from the original 365 firms. The sharp increase is a significant step towards internationalizing the Chinese currency, and it surprised ...

Guangdong seeks economic growth by new means: Guangdong has set its annual economic growth goal at about 8 percent for the next five years, which is slightly higher than the national average though lower than the goals in many other provinces. The purpose is to place even more emphasis on transforming economic development ...

Auto show at Panzhou from Dec. 21 to Dec. 27: The annual China (Guangzhou) International Automobile Exhibition is due to take place from December 21 to December 27 at the Guangzhou Pazhou International Convention and Exhibition Center. Xiao Zhenyu, deputy director of the auto show's preparatory office and director of the ...

Guangzhou Asian Games drives foreign investment surge: On December 2, the Bureau of Foreign Trade and Economic Cooperation of Guangzhou Municipality, held the "Symposium of Guangzhou and Consulates and Chambers of Commerce of Asian Countries and Regions in Guangzhou" at the Garden Hotel. Consuls and economic officials from over 10 ...

More U.S. companies eye China's domestic market: survey: More U.S. businesses seek expansion in China to cash in on the expanding domestic market, rather than seeing China as only a processing and export hub, a survey showed Tuesday. About three-fourths of over 400 member companies surveyed by the American Chamber of Commerce in South ...

2010 GDP of Guangdong Cities: Three Economic Rings' GDP in 2010 (Guangzhou-Foshan-Zhaoqing,Shenzhen-Dongguan-Huizhou,Zhongshan-Zhuhai-Jiangmen) Rank City 2010 GDP (billion RMB) Year on Year Growth (%) 1 Guangzhou 1060.45 13.0 2 Foshan 565.10 14.0 3 Zhaoqing 106.59 17.1 4 Shenzhen 950.00 12.0 5 Dongguan 424.60 ...

Tencent shares rally on group-buying website venture: Shares of Chinese Internet giant Tencent surged Monday (Feb 28) with the opening of a new joint venture with US group-buying website Groupon. The launch of bargain website GaoPeng.com boosted Tencent Holding stocks by 3.2 percent to finish at 206 Hong Kong dollars in Hong Kong. ...

Minimum wage jumps to RMB 1,300: Starting March 1, the minimum wage for workers in the central districts of Guangzhou increased from 1,100 RMB to 1,300 RMB. The minimum hourly wage has risen from 6.32 RMB to 7.47 RMB for full-time staff and from 10.6 RMB to 12.5 RMB for part-time staff. In suburban districts ...

Express, flights emulate petrol price hike: On February 20, 2011 The China National Development and Reform Commission (NDRC) raised the prices of petrol and diesel to 8,080 RMB(1230 USD) and 7,330 RMB (1116 USD) per ton respectively, 350 RMB (53 USD) higher than the prices in December 2010. As a result, the closer ...

10 billion RMB invested in building Aviation Town in Guangzhou: On Feb 23, Guangzhou Mayor Wan Qingliang said the development of China Southern Airlines strengthened Guangzhou's status as a national central city and improved Guangzhou's function as a comprehensive gateway city, and Guangzhou would further support China Southern Airlines in ...

Huawei wins suit against Motorola over property rights: China's Huawei Technologies Co., Ltd. said Wednesday it had won a lawsuit against Motorola and Nokia Siemens Networks (NSN), and a U.S. court has now prohibited Motorola from selling any confidential data from Huawei to NSN. A spokesman for Huawei said at its headquarters in ...

90 percent booths booked at cultural industries fair: About 90 percent of the booths for the Seventh China (Shenzhen) International Cultural Industries Fair (ICIF) have already been booked. The fair will be held from May 13 to 16 at the Shenzhen Convention and Exhibition Center in Futian District and at subvenues across the city. ...

[SZ] No new plans to curb home sales: Shenzhen authorities said there would be no new measures to curb property speculation soon although the city government was determined to control property prices, Chinese-language media reported Thursday (Feb 24). The city planning and land resources commission made the remarks ...

Housing market expected to cool under strict purchasing limits: Home buyers stand in front of a scale model of a residential community at the sales office of a property project in Qionghai, south China's Hainan Province, Feb. 5, 2011. (Xinhua/Meng Zhongde) China's surging housing market is expected to cool, at least for a while, as a new ...

Airline fuel surcharge increased: As of Feb 22, Domestic Airline Fuel Surcharge will be further increased. Surcharge per air passenger on domestic flights of or below 800 kilometers will be increased from 40 to 50 RMB; surcharge per air passenger on domestic flights beyond 800 kilometers will be increased from 70 ...

Tax maybe cut for small cars: Owners of vehicles with engine capacity below 2.0 liters would pay less vehicle tax under a draft law discussed at a meeting of the Standing Committee of China's top legislature in Beijing yesterday(Feb 23). According to the draft law, taxes on vehicles with engines smaller than ...

China eases tariffs to boost domestic consumption: China may reduce import duty and consumption tax on some products to avoid tax losses through "unusual import methods," China National Radio reported. The State Administration of Taxation plans to cancel the consumption tax for cosmetic products and abolish it for gold and ...

Guangzhou sets target for growth: Guangzhou has set an annual economic growth rate of 11 percent for the next five years as the southern China city shifts its focus from fast economic growth to improving people's livelihoods. Speaking at the opening ceremony of the annual meeting of the city's people's congress ...

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