Coty Inc, a French company renowned for its global beauty, and TJoy Holdings Ltd, a Chinese skin care company, announced the signing of a share-purchase agreement, which calls for Coty to acquire a major stake in TJoy. The purchase should close in January 2011, 21st Century Business Herald reported Tuesday.
China will launch a residential property tax trial at the beginning of next year as the latest measure to further tighten the property market, the Securities Daily reported Monday.
China's central bank has expanded the number of trade companies qualified for cross-border yuan settlement to 67,359, according to a statement posted on its website Monday. Originally, only 365 companies were qualified.
China's credit supply this year has exceeded 7.5 trillion yuan by the end of November, according to sources. It is estimated that new loans in November reached about 600 billion yuan, Shanghai Securities News reported Tuesday.
The reported plan that China will invest 10 trillion yuan ($1.5 trillion) in seven strategic industries over the next five years is still under discussion, and the support for these industries will also include a package of policies, the China Business News (CBN) reported Monday, citing an unidentified person who participated in the drafting of the plan.
The proposal for nonferrous metals in the 12th Five-Year Plan has been submitted, Shang Fushan, vice chairman of the China Nonferrous Metals Industry Association, said on Dec 4, Shanghai Securities News reported on Monday.
The consumer price index (CPI) in December will not exceed 5 percent year-on-year and will be lower than in November, said Zhou Wangjun, vice director of the Price Department of the National Development and Reform Commission.
Only 20 percent of employees expect their year-end bonus will be more generous than last year's, while the inflation mounted to 4.4 percent, according to a survey by Chinese-language newspaper National Business Daily.
Luxury car buyers in Beijing, Shanghai and Guangzhou might face delayed delivery of their dream cars or be forced to accept dealer surcharges as high as 100,000 yuan if they want to get them before the Spring Festival, the Internet news portal 163.com reported Thursday.
China may contribute $8 billion to establish the Shanghai Cooperation Organization (SCO) Development Bank, the 21st Century Business Herald reported Thursday.
China's top economic planner has asked the nation's major producers of edible oil to restrain from price hikes for four months, the 21st Century Business Herald reported Thursday, citing unnamed sources.
The China Securities Regulatory Commission (CSRC) said it will beef up supervision over the futures market to curb excessive speculation, echoing the State Council's call to stabilize prices and contain inflation.
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