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STEEL

New Rules Aimed at Consolidating Steel Industry: 80% of Companies to Go

The Ministry of Industry and Information Technology issued draft rules that will limit market access to China's iron and steel industry on December 9. The draft regulations state that in order to get a permit allowing a company to continue to be engaged in the steel industry, ordinary steel makers' crude steel output must have surpassed at least 1 million tons in 2008. Similarly, steel makers enga...

Securities Daily | 2009-12-11

HOUSING

Record Rise in Housing Prices

Data released by the bureau of statistics yesterday, shows that in November, the average price of houses sold throughout 70 of China's large and medium-sized cities rose 5.7% from a year earlier. The rate of growth is the highest recorded this year.

Shanghai Securities News | 2009-12-11

GOVERNANCE

Chongqing to Pilot Asset Declaration Among Judicial Officials

Chongqing municipal government will spearhead a trial system in which officials will be required ti declare their assets. The move, which will first be trialled among leaders in areas of the judicial system, is aimed at combating corruption and improving transparency.

Legal Daily | 2009-12-11

WEB

Chinese File-sharing and Video Websites Closed Down

BTChina and VeryCD, well-known websites that offer free download and exchange of movie files for online users free were recently ordered to close their sites by the State Administration of Radio, Film and Television (SARFT). In September, SARFT issued a circular stating that all websites engaged in on-line audio and video broadcast and downloading services would be required to apply for a special...

People's Daily | 2009-12-10

STIMULUS

State Council Extends Consumption Boosting Stimulus Policies

The State Council yesterday considered policies aimed at boosting the country's consumption. Officials at the meeting decided to extend the various policies that offer tax breaks and trade-ins on home appliances and automobiles.

Xinhua News Agency | 2009-12-10

BANKING

China Banking Regulator Requires Banks to Investigate Exposure to Risk

China Banking Regulatory Commission has demanded domestic commercial banks to undetake an internal audit to determine their exposure in terms of credit risks relating to loans effected by recent policies related to industrial restructuring, loans to local governments' financing platforms and the real estate industry and also the risks associated with personal loans that may have flowed into the st...

China Securities Journal | 2009-12-10

INFLATION

NDRC Expert: Food Price Rises Not Related to Inflation

Of the 57 agricultural food products monitored by the Ministry of Commerce, 43 have risen in price recently. Liu Fuyuan, former vice director of Academy of Macroeconomic Research at National Development and Reform Commission argued in an a recent interview that the price rise had nothing to do with inflation.

The Beijing News | 2009-12-09