New worry for China Eastern

China Eastern Airlines is facing yet another challenge in the lucrative travel market in Yunnan province after the industry watchdog suspended its routes and reduced its flight frequencies last month.

S. Korea's Lotte completes 100% CTA Makro takeover

One of the oldest and most well-known names in Beijing's retail sector is about to disappear as Lotte, the South Korean conglomerate, completes its 1.28 billion yuan takeover of CTA Makro.

Special supplement: ChemChina lauded for exemplary relief work

Faced with the most devastating earthquake since 1949, the staff members of China National Chemical Corporation (ChemChina) have earned respect and praise for their courage, fortitude and efficiency in rescue and relief work.

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Business China

Ratio hike may hurt sentiment

SHANGHAI: The central bank's latest move to raise the reserve requirement ratio by 100 basis points is expected to dampen stock investors' sentiment as it indicates a possible consistent tightening monetary policy in the coming months.

Warburg Pincus buys stake in mobile phone maker

Warburg Pincus, a US-based private equity fund, is to acquire a stake in Beijing Tianyu, one of the nation's major mobile phone makers, in a move that marks a step up in the US group's investment in China.

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Regulator orders efficient credit

China's banking regulator has asked banks and credit cooperatives to ensure credit to grain producers and agricultural firms yesterday, in a move to spur grain production and aid reconstruction efforts of production areas in earthquake-hit Sichuan province.

Rebuilding drive to boost IT sector

The reconstruction of areas affected by the earthquake is expected to have a positive impact on the IT sector across the country, a research firm said in a report.

HSBC debuts in gold

In what is being widely seen as a major step toward globalizing China's gold market, HSBC yesterday became the first overseas bank to start trading gold on Shanghai Gold Exchange (SGE) after gaining approval from China's banking regulator.

Business China