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US Secretary of State Hilllary Clinton's recent visit to China opened a new chapter in environmental cooperation between the world's largest two greenhouse gas emitters. Page 3

Foreign lenders in China loosened their lending policy on mortgage loans following a wave of interest rate discounts from their Chinese rivals. Most Chinese lenders started offering interest rate discounts of up to 30 percent on mortgage loans in early February. Citibank and Standard Chartered Bank joined their Chinese counterparts last week by offering the same.

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The salaries of executives in China's State-owned enterprises (SOEs) could soon be limited. A draft regulation reportedly caps the salary of senior executives at no more than 10-12 times the average of regular SOE staff salaries. The plan also limits the growth of executive pay to no faster than the expansion rate of corporate profits.

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The micro-credit business is booming in the Inner Mongolia autonomous region. As a result, many of the region's self-employed entrepreneurs will benefit from micro loans in the near future. Page 5

China, the world's fastest growing vehicle market, could yield opportunities for foreign oil companies to open more gas stations. Page 8

Four years after a take-over by the China National Petroleum Corporation (CNPC), PetroKazakhstan's annual crude oil production now accounts for 16 percent of Kazakhstan's total oil output. Page 9

The unprecedented nosedive of international oil prices triggered by the global cr edit crisis offers a golden opportunity for China to acquire overseas oil assets at minimal cost, according to analysts. Page 9

Inspectors at Shenzhen Customs have one thing less to worry about, thanks to the steep fall in international crude prices. Page 9

Former Washington Governor Gary Locke

was nominated by President Barack Obama as Commerce Secretary last week. The choice of a son of Chinese immigrants who owned a restaurant and grocery store got a thumbs up from the business community and Chinese Americans.

China has inked a $300 million trade agreement with Switzerland and another $10 billion trade pact with Germany. A 200-member high-profile Chinese business delegation left for Europe on Feb 24 as part of its efforts to bolster trade ties with the continent.

China's banking industry generated 583 billion yuan in after-tax profits in 2008, said Liu Mingkang, chairman of the China Banking Regulatory Commission last week. The industry's profits grew 30.6 percent year-on-year. This ensures that Chinese banks will be at the top of global bank ratings for last year, he added.

(China Daily 03/02/2009 page1)