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Lender gets govt finance mandate

China's Industrial Bank has been selected from 16 commercial banks in a competitive bidding launched by the Ministry of Finance to collect non-tax income on behalf of the central government. The bank will collect administrative service fees, government-managed funds, income yielded from State-owned resources, income from State-owned capital, penalty income, donations accepted by the government and other non-tax fiscal income, on behalf of the ministry.

Joint oil spill response agreed