Consumption priority
CHINA S new five-year development plan makes consumption a priority ahead of investment or exports for the first time, Yao Jingyuan, chief economist for the country s National Bureau of Statistics, said Saturday.
The nation s worsening income inequality has a negative effect on consumption and the key to stimulating consumption is to ensure that urban and rural household incomes grow as fast as gross domestic product, Yao said.
Adequacy ratio
DOMESTIC banks had an average capital adequacy ratio of 11.6 percent at the end of September, up 0.5 percentage point from the end of June, China s banking regulator said Friday.
China s banks average core capital adequacy ratio was 9.5 percent at the end of September, higher than 9 percent at the end of June, the China Banking Regulatory Commission said in a statement.
Probe extended
CHINA S Ministry of Commerce said Saturday it is extending an antidumping and antisubisidy investigation on imports of large U.S. cars.
The probe into U.S. autos with engine sizes of 2 liters or above is being extended by six months to May 6, 2011, due to the complicated nature of the case.
