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China should rely more on adjusting the interest rate than reserve requirement ratios (RRR) to fight inflation, because RRR rises disproportionately hurt private-sector businesses, according to a senior economist.
The world's largest commercial bank ICBC launched its bid to promote its dual-currency credit card outside China on Monday -- with international investor Jim Rogers among the first holders.
Hong Kong stocks closed down 488. 37 points, or 2.11 percent, at 22,711.02 on Monday.
China's stock index futures closed mixed Monday with the contract for May up 0.03 percent from the previous close to 3,122.6.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SZSE) on June 1, 2010, edged down 3.94 percent, or 34.53 points, to close at 840.9 Monday.
China's central bank sent out notifications to many payment service companies about attending an establishment conference Monday for the China Payment and Clearing Association, cnr.cn reported.
Chinese shares tumbled 2.93 percent to a 16-week low Monday with the major gauge Shanghai Composite Index down to below 2,800 points, as investors worried about future economic growth under rising inflation pressure.
Chinese shares opened slightly lower Monday, with the benchmark Shanghai Composite Index down 0.18 percent to open at 2,853.29
The proposed international stock board will be denominated in yuan, reiterated an official with China's securities supervisor during a forum in Shanghai.
MGM China Holdings, owned by US casino operator MGM Resorts International and Hong Kong businesswoman Pansy Ho, is planning an initial public offering to boost expansion in China and elsewhere in Asia.
The Shanghai Futures Exchange (SHFE), China's biggest commodities market, is expected to launch silver futures by the end of this year, the head of the SHFE said Saturday.
Fosun Group, the largest privately-owned conglomerate in China controlled by billionaire Guo Guangchang, signed an agreement with Greek luxury retailer Folli Follie to purchase 6.36 billion of additionally issued stock valued at 13.3 euros per share.
