The State-owned Asset Supervision and Administration Commission is planning to invest 1.3 billion yuan in China’s electric car Industry. The heads of 16 Centrally-owned enterprises (COEs) will gather in Beijing to discuss the details of the plan. The meet
Led by the National Development and Reform Commission, 42 ministerial agencies have inspected the Inner Mongolia Autonomous Region in preparation for economic development. It is believed that development under the program will greatly improve Inner Mongol
Premier Wen Jiabao stated at an executive meeting of the State Council on August 18 that the State Council will stabilize vegetable prices by stepping up enforcement of existing policies. These include leaning on city officials to monitor the local vegeta
State-owned enterprises have earned a total profit of 1.09 trillion yuan in the first seven months of this year, a 50.1% increase from last year. However, since profits in July are down 11.55% from June profits, monthly growth rates may be slowing.
Shares of China Everbright Bank will begin trading on the Shanghai Stock Exchange today. Investors are closely monitoring the bank’s performance against the Agricultural Bank of China, and using their debut share price to gauge the bank’s future influence
The prices of 57 everyday food items have risen 7% in July, a growth rate 1.2 percentage points higher than that of June 2010, said Yao Jian, spokesman of the Ministry of Commerce in a monthly press briefing yesterday. He went on to say that due to high t
The People’s Bank of China has announced a pilot program allowing certain foreign institutions to invest in the country’s interbank bonds market using the Yuan. The Bank has outlined specific guidelines for the qualifications, thresholds and operation mod
Yesterday, Qinghai Province announced a decision to raise its provincial minimum wage starting September 1st. Qinghai becomes one of 27 provinces to raise its minimum wage in 2010. Shanghai currently has the highest minimum wage at 1,120 Yuan per month. J
The Beijing government seeks to regulate the cost of demolition and the relocation of homeowners, according to a notice released by the government. With rising housing costs, the cost of demolition and resettlement compensation has also surged in recent y
The Standing Committee of the National People’s Congress will convene from August 23 to 28 in Beijing to consider amending China’s Criminal Law and its Law of NPC Representatives. They are also expected to draft the Intangible Cultural Heritage Law and th
In response to online complaints that China’s fuel prices have risen 2,630 Yuan per ton since June 20, 2008, an anonymous official with the National Development and Reform Commission (NDRC) has said that the price of fuel is actually lower than in 2008. T
The National Stadium (Bird’s Nest) and the National Aquatics Center (Water Cube) boasted revenues of 550 million Yuan and 150 million Yuan, respectively, after the Olympic Games in 2008, said Li Aiqing, board chairman of Beijing State-owned Asset Operatio
Chongqing, one of the four Chinese cities directly under national jurisdiction, began its reform of the hukou (national registration) system yesterday, allowing non-urban residents who have worked or run businesses for over five years in Chongqing, bought
Based on their August 13 closing price, an estimated 66.33 billion Yuan of restricted shares may be freely transferred on the stock market this week; with the largest amount of shares belonging to China Southern Airlines Company with 25.08 billion Yuan wo
The Chinese government is planning to release a project promoting its alternative energy sector in mid-September, a reporter learned from an unnamed source in the National Energy Commission yesterday. The source also stated that the Information Office of
The Ministry of Health held a news briefing to release results of the investigation into Syrutra milk powder, the product blamed for causing early onset of sexual maturity among female infants. Results demonstrate no link between the Syrutra milk power an
The People's Bank of China has stopped issuing three-month-term bank bills this week, according to a notice published on the bank website. Meanwhile, it issued 86 billion Yuan of three-year-term central bank bills yesterday, one billion Yuan more than the
Illegal buildings outside the villa of Guo Degang, a well-known Chinese private artist whose students have been blamed for physically attacking and offending several journalists at Beijing TV, were demolished yesterday. The conflict between Guo Degang and
The China Real Estate Enterprises Management Association (CREMA)has advised the State Council many times to suspend the issuing of new policies tackling the property market, said Zhu Zhongyi, vice chairman of CREMA, at a meeting held in Boao, Hainan Prov
Shang Ming, director of the Ministry of Commerce’s anti-monopoly bureau, said in a press release yesterday that by June of this year, over 140 anti-monopoly cases have been reported to the Ministry of Commerce since two years ago when China's Anti-Monopol
