China News Direct

 
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Cross-border Trade Settlement in RMB Jumps 300% in Yunnan
(Nov 18, 2011) Commercial banks in Yunnan province did three times more cross-border RMB trade settlement during the period of January to September after the Chinese central bank has rolled out a number of policies to boost settlements of trade and foreign investments in RMB. Banking groups in Yunnan settled RMB16.1 billion of ...
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Small Businesses in China Waived 22 Administrative Fees
(Nov 18, 2011) Small businesses and micro companies in China will be waived 22 kinds of administrative fees and handling charges for three years, which is the latest financial support given by the State Council to back small business development. Starting from January 1, 2012 to December 31, 2014, small businesses and micro ...
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U.S. Manufacturers Find Suppliers in Suzhou, Jiangsu
(Nov 18, 2011) A team of global purchasing and procurement experts from 30 U.S. and European manufacturing companies has visited Suzhou, Jiangsu province to find suppliers among 100 Suzhou manufacturers. Led by MFG.com which is one of the biggest online procurement platforms, the 30 companies are looking for suppliers in the automobile, construction, ...
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China's Service Sector Captures More Foreign Investments
(Nov 17, 2011) The service industry in China, including tourism, wholesale and retail, continues to capture foreign direct investment (FDI) like magnet this year, a scenario totally different from the manufacturing industry. From January to October 2011, China absorbed US$95.01 billion of FDI, posting a 15.86% growth year-on-year. The service industry captured US$44.51 ...
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RMB13Bn Income Tax Relief in China
(Nov 17, 2011) China's new personal income tax rule which came into effect on September 1 has alleviated the tax burden of many workers and individual business operators. In October 2011, the Ministry of Finance collected personal income tax of RMB35.24 billion which was a 22% decrease from RMB45.14 billion in September, and ...
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Policy Banks Grant RMB25Bn Loans to Sichuan, Guizhou
(Nov 17, 2011) Agricultural Development Bank of China had provided Sichuan province RMB24.88 billion of loans for infrastructure construction while Agricultural Bank has just approved a credit line of RMB25 billion for water and irrigation work in Guizhou. From January to September, Agricultural Development Bank of China granted Sichuan all types of loans ...
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Market Principle Reigns Bond Issuance in the End
(Nov 16, 2011) It will be the capital market or the invisible hand which will have the final say on how much and at what price local governments in China can issue bonds one day in the future. Before that however in October, the State Council gave four local governments of Shanghai, Guangdong, ...
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Agricultural Development Bank To Finance Henan's Rural Development
(Nov 15, 2011) The Chinese inland province of Henan will make agricultural development and the construction of rural infrastructure its core strategic development. In a directory opinion issued by the State Council to speed up the development of Chinese central provinces led by Henan, it is revealed that Henan will step up developing ...
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Over 28Mn Bank IC Cards Issued by Year-end
(Nov 11, 2011) Commercial banks in China have issued 18.15 million financial IC cards and the full-year card issuance is expected to be 28.40 million. According to Li Xiao-feng, the head of the financial IC promotion workforce at People's Bank of China (PBOC) speaking at an industry discussion forum held in Beijing, ICBC, ...
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Telecom Monopolies Just the Beginning
(Nov 11, 2011) The action of National Development and Reform Commission (NDRC) to openly investigate the alleged price monopoly of China Telecom and China Unicom in providing broadband connection has given the market an impression that the authority will take the matter of regulating prices further from just monitoring prices to fighting price ...
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