China News Direct

 
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Stage curtain rises for internet banking
(Jan 05, 2015) SHENZHEN - State Premier Li Ke-qiang made a new-year trip to Shenzhen in early January, inaugurating China's first internet-based private bank and blessing a business with the sky as the limit. Chinese internet service giant Tencent Holdings Group made debut its internet micro bank, WeBank, in Shenzhen's Qianhai financial area on 4 January. Licensed to ...
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China cultivates entrepreneurial spirit
(Jan 15, 2015) BEIJING - State Premier Li Ke-qiang announced on January 14 the formation of a national strategic industry investment fund for entrepreneurs, grouping public and private money of about RMB40 billion for start-ups and mid-cap companies. The State Council supports all kinds of business growth related to new industries or industries with strategic value, a message ...
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Shanghai launches first copper swaps in RMB
(Feb 07, 2015) SHANGHAI - China (Shanghai) Free Trade Zone has introduced the world's first swap premium contract on copper, a commodity derivative settled in Renminbi (RMB) for local and international investors. Shanghai Clearing House will be handling the new product which will be priced on the Yangshan Copper Premium Index, centrally clearing and cash settling ...
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China unveils monetary strategy that catches two birds
(Feb 06, 2015) BEIJING - Economists say China has done something not seen before in gearing the economy when taking 50 basis points off all banks' required reserve ratio, it allows some banks additional cuts, effectively increasing money supplies and pushing the costs of lending down. China has made a timely move to lower the required reserve ...
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Trading discharge rights back to basics
(Feb 26, 2015) SHANGHAI - Shanghai Pudong Development Bank (SPD Bank) will lend to companies pledging emission discharge rights as collateral, the first of its kind in China in activating trading of rights in the secondary market. SPD Bank, nodded by People's Bank of China (Guangdong), Guangdong Development and Reform Commission and several other departments, provided the ...
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China in the vein of new norm
(Mar 06, 2015) BEIJING - People's business, better industries and a stable macro-economic environment by and large are three areas which the State Council will need to grasp this year, according to State Premier Li Keqiang who delivered his second government work report at the opening of the National People's Congress (NPC) and The Third Session of the 12th CPPCC National Committee held in ...
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Waste treatment investments enabled by enhanced rule
(Mar 26, 2015) SHANGHAI - Local governments across China are asked to stiffen charging sewage discharge fees on a "user-pay" principle, collecting and budgeting money for waste treatment and infrastructure construction. The Ministry of Finance (MOF), National Development and Reform Commission (NDRC) and the Ministry of Housing and Urban-Rural Development ...
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Beijing sends new help to water infrastructure investment
(Mar 29, 2015) BEIJING - State Council wants 90% of central budgeted funding to be dispatched to local water and irrigation projects by this June, which signals how important water infrastructure is in underpinning socio-economic development. The State Council has planned 172 major water and irrigation projects of which 57 has started ...
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New rule excites gold trade, breaks monopoly
(Apr 30, 2015) BEIJING - Banks may no longer be the chief gold traders after the People's Bank of China (PBOC) and China Customs have allowed more groups to import and export gold. The gold industry in China will never be the same again when the door leading to competition is opened. Effective 1 April, qualified legal persons, being a regular or consolidated member of ...
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Public-private partnership poised to grow
(May 26, 2015) ANQING, Anhui - Beijing Urban Construction Group Co. Ltd. has signed a RMB2-billion contract to build and operate Anqing Outer-ring North Road in the city of Anqing, Anhui province, the first public-private partnership (PPP) project in Anhui's public transport. To be completed in two years, Anqing Outer-ring North Road is the province's first PPP transport ...
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