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MEDIA

Penalty for Drink Drivers Doubled

Drink drivers will have 12 points deducted from their license, raised from six, the Ministry of Public Security announced in the revised Application and Usage Regulation on Driving License of Motor Vehicle yesterday. The regulation will come into effect on April 1, 2010.

The Beijing News | 2009-12-18

MEDIA

Developers Required to Pay Down-payment of 50%

In an effort to curb the growth in house prices, the government is requiring property developers to pay a down-payment of no less than 50% of the fee they pay to local governments for the right to develop a plot of land, according to a jointly released notice from the Ministry of Finance, the Ministry of Land and Resources, the People's Bank of China, the Ministry of Supervision and the National A...

China Securities Journal | 2009-12-18

CONSTRUCTION

China to Repair Charred CCTV Complex

As the main structure of 30-story building to the north of the CCTV complex, also known as the TVCC center, was not seriously affected by the fire that engulfed it in February this year, authorities say that the tower will be repaired rather than knocked down and rebuilt. At present, preparations are being made to start repairs on the south side of the tower.

The Beijing News | 2009-12-17

CONSTRUCTION

China Begins Construction of World's Longest Cross-sea Bridge

Construction of the world's longest cross-sea bridge linking China's southern economic hub of Guangdong Province to Hong Kong and Macao began on December 15. Investment in the project is expected to reach 72.94 billion yuan and will be shared between the government's of Guangdong province, Hong Kong and Macao.

Xinhua News Agency | 2009-12-17

MEDIA

Hu Shuli to Take Up Position at Sun Yat-Sen University

Hu Shuli, former editor-in-chief of Caijing Magazine, will officially take up her position as dean of the School of Communication and Design at Sun Yat-Sen University in Guangzhou on Friday.

Xinkuai Bao | 2009-12-17

TRADE

General Tariff Level to Remain at 9.8% in 2010

China's general tariff level will remain at 9.8% in 2010, though the import tax on some items will be reduced slightly, the Ministry of Finance revealed yesterday. It went on to say that, so far, China has fulfilled all the tariff-reducing commitments it made when it joined the WTO in 2001.

China Securities Journal | 2009-12-16

CHINEXT

Record High P/E Ratios Among Second Group of Companies to List on Growth Enterpr...

The average price/earning ratio of the second tranche of enerprises to be listed on China's new ChiNext board is 83.59, far in excess of the average P/E ratio of the first batch. Jinlong Jidian has the highest P/E ratio (126.67) of all the new entrants to the board.

Economic Observer | 2009-12-16