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The State Council, or China's cabinet, has approved a regulation that aims to standardize bidding processes for construction and other business-related projects in order to rule out fraud and misconduct.
China will keep its "prudent" policies in 2012, but it should adopt more fiscal tools to compensate for the slowing money-supply growth and weakening economy, a central bank adviser said on Wednesday.
As China and the United States face more trade disputes, the World Trade Organization (WTO) can provide the best mechanism for handling the disagreements and keeping the bilateral ties intact, said former US trade representative Charlene Barshefsky.
Standard & Poor's Financial Services LLC (S&P), a major international rating agency, gave Bank of China Ltd (BOC) and China Construction Bank Corp (CCB) higher ratings than their US counterparts after it revised rating criteria.
China will raise on-grid power prices and electricity rates for industrial users effective Thursday, and put a ceiling on coal prices, as the government moves to adjust the energy pricing system.
China would raise the electricity price for non-residential use by an average of 0.03 yuan ($0.47 cents) per kWh nationwide as of Thursday, the National Development and Reform Commission announced Wednesday.
A 72-year-old woman, Wang Yulan, has initiated legal procedures against Carrefour after she was falsely accused of stealing in the supermarket, her lawyer said on Tuesday.
China will introduce a special value-added tax invoice for the rare earth sector "as soon as possible" in order to further crack down on the illegal mining and over-exploration of rare earths, a government official overseeing the sector said Wednesday.
China is set to progressively promote commercial health insurance programs as the country appears to be more determined to tap all resources available to strive for universal and affordable healthcare for its citizens.
China's PMI, a preliminary readout of the country's manufacturing activity, dropped to 49 percent in November, indicating contraction for the first time since February 2009.
China's central bank lowered reserve requirements for commercial lenders for the first time since December 2008, a sign the country has started to ease its monetary stance as white-hot inflation is contained and economic uncertainties increase.
China has spent 4.55 billion yuan ($713 million) on conservation work to preserve the source of the Yellow, Yangtze and Lancang rivers, a local conservation official said Wednesday.
