The China Air Transport Association (CATA) has refuted rumors that passengers experiencing flight delays for over four hours will receive cash compensation. The association says it has only been soliciting opinions on new airline regulations but has not y
Data from the National Bureau of Statistics show that Chinese property developers have been hoarding 1.2 billion square meters of land. Developers have purchased 3.3 billion square meters of land in the past ten years and developed only 2.1 billion square
Airline companies with flight delays of four to eight hours will be required to provide a 300 yuan ticket discount, or 200 yuan in cash, as compensation. This is according to the new standard released by the China Air Transport Association.
China Business News has learned from two anonymous sources that the central bank is considering shifting China’s monetary policy from “loose” to “prudent”. If implemented, the change would signal a tighter monetary policy.
In response to pressure from the US, Chen Jian, vice minister of commerce, said China is still debating whether to raise the rare earth issue at the G20 meeting. But he insists China’s export quota of rare earth will not fall in 2011.
Wang Fusheng, a billionaire once listed in the Forbes China Rich List and the Hurun Report, is reported to have over 180 million yuan in unpaid taxes. He has also been accused of bribery and corruption. Wang's case is currently being tried in the Beijing
As of December 1, children with a height below 1.2 meters will be allowed to ride Chinese trains for free, and those with a height between 1.2 and 1.5 meters will be eligible for a half-price ticket. In the past, only children shorter than 1.1m were able
As of today, banks will only provide a 15% discount on mortgage interest rates for first-home buyers. The mortgage interest rate of second homes has been raised to 1.1 times that of the base interest rate. Loans will not be given to third-home buyers.
Around 20 billion yuan of ChiNext restricted shares, 26% of the total, will be open for trading today. This is the first batch of restricted shares in the ChiNext market to be released for trade.
A month after the government issued new policies aimed at countering speculation and rising prices in the property market, the trade volume in 20 of the 35 cities monitored by the China Index Academy, one of Chinese largest private property research organ
The State Administration of Foreign Exchange announced yesterday that since February, they have uncovered 7.3 billion US Dollars worth of illegal hot money transfers. A total of 178 cases have been reported to or dealt with by the police and 6 Chinese ban
Currently, many retirees can only draw their pensions from the city in which they worked and made payments to their pension fund, but according to an official's response to a reporter's question during a news briefing held at the conclusion of the recent
On the afternoon of October 28, the final day of the 17th bimonthly session of the 11th National People's Congress Standing Committee, delegates voted in favor of adopting a new law on social insurance. A draft of the law was first considered at the end o
As late as September 13, only 51 high-level executives from 30 companies listed on China's growth enterprise board (ChiNext) have resigned from their positions. According to China Securities Journal estimates, this number accounts for only 2.81% of the to
“China will establish a reserve system for rare earth resources next year and expand its rare earth reserve volume,” an anonymous source from the Chinese Society of Rare Earths told a reporter from the 21st Century Business Herald.
The Guoxin Asset Management Company has still not been formally unveiled. There will be a press conference once the company is officially established, according to the information center of the State-Owned Asset Supervision and Administration Commission (
The Ministry of Housing and Urban-Rural Development announced recently that all types of animal performances will be cancelled within three months. Some local governments and zoos give too much importance to economic benefits which has led to unnecessary
The Chongqing Foreign Affairs Translation Center has provided the authorized English translation of five of Chongqing’s “hot phrases” in order to reduce misconceptions among foreigners. Because the “hot phrases” have Chinese characteristics, different tra
