Premier Wen Jiabao stated at an Executive Meeting of the State Council held yesterday that the Chinese government will implement five measures to promote the domestic services industry which includes community services, senior citizen care, housekeeping s
According to regulations released by the General Administration of Customs, items mailed into mainland China with over 50 yuan in import duties will be taxed according to their full commercial value starting today. The General Administration of Customs in
As of today, SIM cards can no longer be purchased from newspaper stands in Beijing. Individuals wishing to purchase a new mobile phone account must go to a mall or a retailer owned by one of three communication service providers. Customers will also be re
According to data from the Ministry of Commerce, prices of agricultural products rose 0.2% last week from the week before, rounding off ten weeks of consecutive increases. Despite rumors that China's agricultural sector has been targeted by domestic and f
Huang Qifan, mayor of Chongqing, yesterday denied that the local government is offering farmers the opportunity to register as urban residents in an attempt by the local government to acquire their land. He said Chongqing planned to register ten million m
The National Bureau of Statistics has published an article on its website claiming that it is "willing to work with ordinary citizens to improve the accuracy of statistics concerning residents'income". The Bureau has already published two other articles q
Zhou Xiaochuan, President of the People's Bank of China, has said that the central bank will fully promote the regulation, reform and stabilization of China’s financial system. His statement was made during an extended meeting of the CPC committee of the
According a notice on the Ministry of Finance’s website, individuals who report information about "illegal coffers" of social associations and state-owned or state-controlled enterprises will be offered an award of up to 100,000 yuan.
The second generation E-banking system developed by the People’s Bank of China, known as "Super E-Banking," began work yesterday. Cross-banking services not provided by traditional E-banks such as account transfers, inquiry, and credit card payment are no
The Beijing Higher People's Court has upheld the May 18th sentence of Huang Guangyu, the former CEO and founder of GOME the country's largest electrical appliance retail chain. The court upheld Huang's original sentence of 14 years in prison and a fine of
Five central-owned enterprises (COEs), including China State Construction Engineering Corporation, scouring the globe for high-level executives to fill positions ranging from general managers to researchers.
China's securities-based mutual funds reported losses of 439.75 billion yuan in the first half of this year, the second biggest loss in the sectors history after record losses of over a trillion yuan in the same period of 2008.
China's top 500 private enterprises earned a combined profit of 217.95 billion yuan in 2009. While that may sound like a lot of money, it still falls short of the combined profit of two state-owned giants: China Mobile and China National Petroleum Corpora
Police Heilongjiang's Yichun apologized to four journalists who were detained for over an hour on August 28 while attempting to interview both survivors and family members of victims of a plane crash that occured at the city's airport on Tuesday. The jour
The Industrial and Commercial Bank of China (ICBC) has earned profits of 84.6 billion yuan in the first half-year, up 27.3% on the level of the same period last year. The report confirms that ICBC continues its run as the most profitable bank in the world
Zhang Ping, director of the National Development and Reform Commission, reported to the Standing Committee of the National People's Congress that China's demand for grain will increase to over 500 million tons in 2020. China will have to produce over 500
The chinese government has collected 5.1 trillion yuan in fiscal revenue in the first seven months of this year, up 25.7% from the same period last year. Fiscal expenditure is reported to be 3.96 trillion yuan, up 16.9% from last year.
Housing prices continue to skyrocket in many cities. The Chinese government is persisting with policies aimed at tackling speculation and hopes to implement further measures to curb inflating housing prices. Government departments are also looking to impr
The National Development and Reform Commission (NDRC) published "Suggestions in Relation to the Project for the Promotion of Central China" yesterday. The document offers up a general set of guidelines for the encouragment of development of agriculture, m
The Agricultural Bank of China will stop issuing loans to real estate companies, land developers or corporate property developers from August 23 to the end of the month. The Construction Bank of China has also announced that they'll suspend the issuing of
