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Chinese property tycoon Ren Zhiqiang has ripped into a statement by the National Development and Reform Commission (NDRC) that "not a penny" of the country's mammoth four trillion yuan ($586 billion) stimulus package has entered the real estate industry.
Gold is unlikely to become a primary investment for China's foreign exchange reserve, said Yi Gang, Deputy Governor of the People's Bank of China and also Administrator of the State Administration of Foreign Exchange.
China's consumer price index (CPI), a main gauge of inflation, is likely to increase by over 2 percent in February year-on-year, chinanews.com.cn reported Monday, citing research reports by Chinese brokerage firms.
Hong Kong could be used as a trial ground before the Chinese renminbi (RMB) leapfrogs to the international markets as a transaction currency, said a former central bank official in Beijing on Monday on the sidelines of the annual National People's Congress (NPC), the nation's top legislature.
China Publishing Group Corp, a large State-owned publishing group, has begun preparing for a whole listing and planned to float on the A-share market by the end of this year as previously scheduled, the China Business News reported on Sunday.
The appreciation of China's Renminbi (RMB), despite much media fanfare as well as pressure from the international community, should bode its own time, said a former central bank official in Beijing on the sidelines of the annual session of the National People's Congress
Unfair competition was the main reason for the decline of domestic companies in the retail market, said Zhang Jindong, Suning Appliance Group's board chairman, as he called on local governments to remove privileges that are given to foreign retailers to attract overseas investment.
China Huarong Asset Management Corp, one of four State-owned asset management firms, signed a strategic cooperation deal Monday with Anyang municipal government in Henan province, providing the city with a set of financial services to help fuel its economic development.
The "telepads" used for anonymous voting ballots at the People's Hall of China should be equipped with a cover-up lid to ensure the delegates' privacy, according to a proposal from a CPPCC National Committee member.
The city government of central China's historic Wuhan, birthplace of the 1911 Xinhai Revolution, is going to lavish out over 20 billion yuan ($2.9 billion) for the upcoming centenary spectacular, Mayor Ruan Chengfa said to Eastday.com Sunday.
The plan to turn Hainan into an international tourist destination is likely to get approval from the country’s top economic planner between late March and early April, the Beijing News reported Monday, citing Governor Luo Baoming.
Shanghai's GDP in 2009 exceeded that of Hong Kong for the first time after it surpassed Hong Kong as China's biggest port and stock-market operator, the China Economic Net reported.
