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LOANS

Bank Loans to Exceed One Trillion Yuan in January

An insider told a reporter at the 21st Century Business Herald that the China’s four largest state-owned banks will have given over 800 billion yuan in loans by January 19th. The central government originally set January loan targets at 300 billion yuan for the four state-owned banks. Total bank loans in January will exceed one trillion yuan.

21st Century Business Herald | 2011-01-20

TRANSPORTATION

Government May Reduce Cost of Expressway Tolls

Cai Yuhe, deputy director of the general department at the Ministry of Transportation, said at China Logistics Development Meeting that the ministry is considering reducing the cost of expressway tolls and renewing the current toll policy. Expressway tolls comprise one third of the costs incurred by China’s logistics industry.

21st Century Business Herald | 2011-01-20

HOUSING EXPROPRIATION

State Council Approves Draft of Housing Expropriation Regulations

At an executive meeting held yesterday, the State Council approved the current draft for the “Regulations for Housing Expropriation and Compensation on State-owned Land.” The draft requires that local governments offer market prices to compensate for expropriated houses. Additionally, property developers will be prohibited from playing a role in demolition projects and forced expropriations will b...

Beijing Youth | 2011-01-20

CPI

CPI Rose 4.6% in December

According to China's Bureau of Statistics, China's consumer price index (CPI) rose 4.6 percent in December from a year earlier. The inflation rate stood at 3.3 percent for the full year, which was above the 3 percent target for the year set by the government in March. sourceChina News ServiceGoogle translation

China News Service | 2011-01-20

CORRUPTION

Chongqing NPC Delegate who Accused Fellow Delegate of Corruption Vanishes

Last week the EO reported that Zhang Mingyu, a delegate to Chongqing's 3rd NPC and former board chairman of Chongqing Tongchuang Property Corporation, had publicly accused Weng Zhenjie, a member of the standing committee of Chongqing's NPC and chairman of Southwest Securities, of "accepting bribes and being involved in gang-related activity." According to the 21st Century Business Herald, the man ...

21st Century Business Herald | 2011-01-19

CRIME

Bribery the Crime of Choice Among China's Wealthy

According to a new special report released by Hurun Report, a publishing and events group founded by Rupert Hoogewerf which is best kown for publishing an annual China Rich List, the number one crime for which China's wealthy are sentenced to prison terms is bribery. Of the 1,882 people that have appeared on Hu Run's Rich List over the past 12 years, 24 have since been jailed. Twenty of these entr...

China Youth Daily | 2011-01-19

INTERNET

Number of Internet Users Reaches 457 million

Beijing's China Internet Network Information Center has just released its 27th Internet Development Statistical Report. According to report, the number of internet users in China has reached 457 million and the number of cell phone users has reached 303 million. Notably, the number of registered internet shoppers increased by 48.6% in the past year.

China News Service | 2011-01-19