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BANK LENDING

Bank Regulators Refute Rumors of Credit Squeeze

Both Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC), and officials from the People's Bank of China refuted rumors that the regulatory body had ordered some banks to stop issuing new loans for the rest of January. Shanghai's stock composite index fell nearly 100 points yesterday on the weight of the rumors of tightened credit.

Xinmin.cn | 2010-01-21

CREDIT GROWTH

New Loans to be Scaled Back to 7.5 Trillion Yuan in 2010

Liu Mingkang, chairman of the China Banking Regulatory Commission, revealed that "China's new lending scale in 2010 is expecting to decrease to 7.5 trillion yuan from last year's 9.5 trillion yuan," at the Asian Financial Forum in Hong Kong yesterday.

International Finance News | 2010-01-21

FINANCE

China's Central Bank Once Again Lifts Yields on One-Year Bills

The People's Bank of China has once again raised the interest return on one-year bills by eight basis points yesterday. By making government bond purchases more attractive to investors, including banks, the bank hopes to withdraw liquidity from China's financial system.

China Business News | 2010-01-20

STATE-OWNED ENTERPRISES

Net Profits at State-owned Enterprises Up 9.8%

China's state-owned enterprises made a total net profit of 1.34 trillion yuan last year, up 9.8% on 2008. The impressive profit growth was primarily due to a big leap in revenue in December as profits were down 1.9% year-on-year in the first eleven months of 2009.

China Business News | 2010-01-20

WEATHER

Extreme Cold Weather Returns to Northern China

Temperatures across China a predicted to fall an average of eight degrees today, as the country enters the traditional period of Da Han. Areas in the country's northwest, including parts of Xinjiang Autonomous Region and Inner Mongolia Autonomous Region will both endure temperatures of below -30 deg. Celsius.

China National Radio | 2010-01-20

CORRUPTION

Former Supreme Court Judge Sentenced to Life in Prison

Former deputy head of China's Supreme Court, Huang Songyou, was sentenced to life in prison earlier this morning by the Langfang Intermediate People's Court in Hebei. Huang was charged with both taking bribes and being involved in graft involving 3.9 million yuan.

The Beijing News | 2010-01-19

CORRUPTION

High-level Fujian Official Receives Life Sentence

Chen Shaoyong, former general secretary of Fujian's provincial Party Committee. was sentenced to life imprisonment for taking bribes valued over 8.19 million yuan by a Nanjing Intermediate People's Court yesterday. All his personal property will be confiscated.

Xinhua News Agency | 2010-01-19