 |
|
|
 |
|
The lowest Chinese stock valuations since economic growth collapsed three years ago have sent a signal to the country's biggest brokerages that it's time to buy.
Local governments had an overall debt of 10.7 trillion yuan ($1.65 trillion) by the end of 2010, said China's top auditor on Monday in a report to the National People's Congress.
"Wanna be rich? Grow apples; Wanna be super rich? Raise pigs. Wanna be super, super rich? Grow apples and raise pigs." The slogan is worded by Ye Weiqiang, a college graduated "village head," to sell his get-rich "bible" to farmers.
Bank of Chengdu Co Ltd, a Sichuan-based city commercial bank, is planning an IPO on the Shanghai Stock Exchange's A-share market, as it moves to replenish its capital to boost future growth.
The top legislature on Monday started its second reading of an amendment to the country's individual income tax law.
Stocks on the Chinese mainland rose for a fifth day on Monday, the longest winning streak since February.
The National Council for Social Security Fund (SSF), China's largest limited partner, is contacting and investing in private equity (PE) companies, and regards the tightening monetary policy as a huge opportunity in the development of the PE market, said a senior official from the SSF.
The regulator of China's state-owned assets on Monday announced new measures to supervise assets owned by centrally-administered state-owned enterprises (SOEs) overseas amid "increasing complexities."
China announced the size of its local governments' debts for the first time on Monday, which experts said will ease concerns over systemic financial risks.
Chinese shares closed higher on Monday with the benchmark Shanghai Composite Index up 0.44 percent, or 12.02 points, to 2,758.23.
The world's largest payment network Visa has been in a one-year-long battle with China's biggest electronic payment network China UnionPay over royalty payments.
China's timing for realizing the yuan's full convertibility into other currencies is already mature enough to facilitate yuan's internationalization, and the country will be able to liberalize currency exchange rates in three years, a leading economist said on Sunday.
