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China's purchase of euros will be a long-term strategy and will not swing on short-term problems, the Hong Kong head of China's $300 billion sovereign wealth fund said on Sunday.
About 1.67 billion non-tradable A-shares of 27 listed companies will be unlocked this week and become available for trading starting Monday, according to the Shanghai and Shenzhen stock exchanges.
China's individual income tax system should be amended to reduce tax burdens for the country's middle-income earners, a senior expert in finance and economics said.
The Asian Development Bank has approved $100 million in loan to help China's remote counties to build new urban infrastructure and boost tourism development, the bank said Friday.
Stocks on the Chinese mainland rallied the most in four months on speculation the central bank will refrain from raising interest rates after Premier Wen Jiabao said efforts to stem inflation have worked.
Chinese shares closed higher Friday with the benchmark Shanghai Composite Index up 2.16 percent, or 57.96 points, to close at 2,746.21.
The China Banking Regulatory Commission has asked banks to reduce loans to real estate developers, the Beijing News reported on June 24, citing head of the Shanghai Banking Regulatory Bureau, Liao Min.
Soho China Ltd, the developer whose founder and chief executive officer is billionaire Zhang Xin, increased a dual-currency term loan to $605 million from $400 million, a person familiar with the matter said.
The pace of Chinese listings in the US markets is likely to slow this year amid tougher regulations aimed at curbing backdoor listings of companies, following a series of alleged accounting scandals, analysts said on Thursday.
Stocks on the Chinese mainland advanced, driving the benchmark index to its biggest gain in three months, as energy and material producers rallied on increased government support for alternative energy production and affordable housing.
A record $58 billion in withdrawn initial public offerings (IPOs) in Asia and muted market debuts are expected to force listing hopefuls to cut valuations to win over investors in the world's top region for offerings.
China will work to introduce financial institutions to another 500 villages and towns that currently have no financial services establishments in them, the country's banking regulator said Thursday.
