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Banks may be forced to plan in case of crisis

THE banking regulator planned to require lenders to set up procedures to allow them to restore their finances in the event of a crisis, a person with knowledge of the matter said. Banks deemed systemically important, including Industrial & Commercial Bank of China Ltd., could ...

CPI rises 4.9 percent, exceeding forecasts

CHINA S inflation and industrial production exceeded forecasts in February, underscoring the challenge for the government as it seeks to prevent price increases from stirring social unrest. Consumer prices rose at an annual 4.9 percent pace in February and output increased 14 ...

Taiwan softens on high-tech investment in mainland

TAIWAN further relaxed controls Tuesday on high-tech investment in the mainland by local firms, allowing makers of flat-panel television screens to export their most advanced technology to the mainland. The move by the island s economic ministry is another sign of the fast ...

Mattel closes Barbie concept store in China

A worker arranges Barbie dolls at Barbie s Shanghai flagship store in Shanghai in this March 5, 2009 file photo. Barbie is hitting the road Monday, as Mattel Inc. closes down its Shanghai flagship store dedicated to the iconic brand after only two years. SD-Agencies

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Feb. car sales up 2.6% FEBRUARY car sales in China rose 2.6 percent from a year ago to 967,200 units, the official China Association of Automobile Manufacturers (CAAM) said yesterday. That compared with 1.53 million units sold in January, which was up 16.2 percent from a year ...

Maotai price unpalatable

CHINESE leaders used it to toast Richard Nixon, Kim Il-sung, Margaret Thatcher and Ho Chi Minh, as well as the founding of the People s Republic of China. But a 20 percent price rise this year of China s national liquor, Maotai, on the back of tight supply and rising raw material ...

Huawei pins hope in enterprise business

GLOBAL telecom equipment maker Huawei Technologies Co. expects revenue from its enterprise division to increase eightfold over the next three to five years as it takes advantage of new growth opportunities emerging from cloud computing, a senior company executive told reporters. ...

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Shanghai Disneyland first phase US$3.7b CHINA has approved 24.5 billion yuan (US$3.7 billion) for investment in the first phase of the Disneyland theme park planned for Shanghai, Shanghai Securities News reported yesterday, quoting the city s mayor, Han Zheng. In November, Walt ...

China still has no say in iron ore pricing

CHINA continues to have no say in setting global iron ore prices despite being the world s biggest consumer of the key steelmaking ingredient, Wuhan Iron and Steel president Deng Qilin said Saturday. Deng told a news conference on the sidelines of the National People s Congress ...

Nation to cut bank loans to local govts.

THE Central Government is cutting the size of outstanding bank loans to local government financing vehicles, Liu Mingkang, the head of the country s bank regulatory body, was quoted as saying yesterday. Liu, chairman of China Banking Regulatory Commission (CBRC), was quoted by ...

Big 4 banks maintain loan target

CHINA S four largest banks expect to issue loans totalling nearly 3 trillion yuan (US$456.83 billion) this year, almost unchanged from last year, according to bankers with knowledge of the matter. The combined loan target of the big four lenders Industrial and Commercial Bank of ...

Inflation curbs working: State planner

THE government s efforts to curb price rises are working and could lead to lower inflation rate in February, but there is no room for complacency, the head of the country s State planning agency said Sunday. The government has repeatedly raised interest rates and banks reserve ...

Low-income housing

A low-income housing project in Beijing on Wednesday. Beijing has boosted its spending on low-income housing as property prices have risen sharply. The city has set aside more land for apartments after building tens of thousands of low-income housing.SD-Agencies

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Drought-affected area, crop impact limited THE total area in China affected by drought was limited and grain prices would remain basically stable, said Chen Xiwen, the State Council s deputy director of agricultural affairs. Winter wheat only accounted for 22 percent of China s ...

Egg revolution hatching down on the farm

A vendor arranges eggs at a market in Mudanjiang City in northeastern Heilongjiang Province.SD-Agencies Big opportunities in the egg industry are emerging in China as people become more concerned about food safety and the quality of life. BUYING a box of fresh eggs in a mainland ...

No fresh property tightening plans: regulator

CHINA had no plans to take fresh measures to target the property sector, while commercial banks could withstand a 20 to 30 percent fall in housing prices, a senior bank regulatory official said Friday. China would implement the battery of property tightening policies that it had ...

Banks ordered to raise reserves for third time

Reserve requirement ratio changes Source: Xinhua THE central bank ordered banks to set aside more cash for the third time this year, judging that inflation remains a bigger threat to the world s second-largest economy than Japan s earthquake and nuclear crisis. Reserve requiremen...

Property inflation edges down on curbs

An employee sleeps at a real estate agency yesterday. Smaller cities led gains in home prices last month as Beijing, Shanghai and other larger metropolitan areas introduced local housing measures following new curbs from the Central Government, the statistics bureau said on its ...

Feb. bank loans fall short of estimates

CHINESE banks extended less than 600 billion yuan (US$91 billion) in new loans in February, domestic media reported Friday, a surprisingly low figure that would help temper inflationary pressure. China has steadily ratcheted up banks required reserves and ordered them to lend ...

71 percent of Hainan homebuyers are not local

A real estate agent explained to a potential buyer at a housing fair in the southern island Hainan Province in this Sept. 30, 2010 photo. A recent official survey said that 71 percent of homebuyers in the province come from outside the island, and over 70 percent of them only ...
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