Banks' provision coverage rises to 186%
2010-07-14 17:23:17
The provision coverage ratio of China's commercial banks reached 186 percent by the end of June, up 7.8 percentage points from the end of May and 51.7 percentage points from a year ago, according to data released by China's top banking regulator Wednesday.
Shougang's takeover plan achieves breakthrough
2010-07-14 14:14:10
China's Shougang Group will sign an agreement with Tonghua Iron & Steel Group (Tonggang) in Jilin province on July 16 for a takeover, marking a breakthrough in the long and winding road of their restructuring, the 21st Century Business Herald reported, citing an official from Shougang.
Acid leak prompts new enviro-protection rules
2010-07-14 13:52:28
China's Ministry of Environmental Protection said it will tighten rules on environmental information disclosure by listed companies, after a copper smelter of the country's largest gold producer leaked acidic water and killed large numbers of fish.
New steel mill list to be unveiled next year
2010-07-14 11:34:23
A list of steel enterprises that meet the new requirements set by the Ministry of Industry and Information Technology (MIIT) will be unveiled by the end of 2011, a source with the ministry said, China Securities Journal reported Wednesday.
State-owned asset manager finishes restructure
2010-07-13 16:44:27
China Cinda Asset Management Corp, one of China's four State-owned asset managers, will officially complete its restructuring Friday with its shares fully controlled by the Ministry of Finance (MOF), financial website Caing.com reported Tuesday.
Small steel enterprises set for death sentence
2010-07-13 15:12:47
The Ministry of Industry and Information Technology (MIIT) released new regulations Monday at the National Steel Industry Forum held in Dalian city of Northeast China's Liaoning province, setting new requirements for China's steel mills as a step to curb overcapacity of the industry.
China Mobile's Zhang Xiaotie named CETC outside director
2010-07-13 14:58:30
Zhang Xiaotie, deputy general manager of China Mobile, has been named an outside director of electronics conglomerate China Electronics Technology Group Corp (CETC), Caing.com reported Tuesday.
Local govt debt issuance down 70% in H1
2010-07-13 14:33:08
China's local governments issued a total of 43.8 billion yuan ($6.46 billion) in debts in the first half of this year, down 73.6 percent from a year ago, Beijing News reported Tuesday.
New China Life premium income up 68% in H1
2010-07-12 18:17:37
New China Life Insurance Co (NCL), the country's fourth-largest life insurer, reported a 68 percent year-on-year increase of premium income in the first six months of this year, driven by the company's strong growth in the bancassurance business, NCL's vice president said on Monday.
Hainan encourages tourism firms to go public
2010-07-12 17:04:27
South China's Hainan province plans to invest 3.5 trillion yuan ($516.85 billion) in the next 11 years to build the southern tropical island into an international tourism island, sources from the Hainan Tourism Development Commission said, the Shanghai Securities News reported Monday.
Funds outstanding for FX grow at a slower pace
2010-07-12 16:30:08
The growth in the funds outstanding for foreign exchange continued to slow down in June following a sharp fall in May, indicating that international speculative money is withdrawing from the country before they make a comeback, the China Business News reported Monday, citing data from the People's Bank of China (PBOC).
Banks' bad loans may surge in '12, survey says
2010-07-12 16:10:44
Non-performing loans from infrastructure construction may surge around 2012 after a lending binge that started in 2009 and continued into the first half of this year, reported Beijing-based International Finance News, citing a latest market survey and central bank statistics.