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Hollywood blockbuster "Avatar" pulled in 309 million yuan ($45 million) nationwide as of Monday, spokesman of the China Film Group Corporation, the movie's distributor in China, said on Wednesday. Weng Li said it was the first movie in the country to reach the figure within eight days. The 3D epic earned 56 million yuan at the box office last Saturday ...
The decision of the People's Bank of China (PBOC), the central bank, to increase the deposit reserve requirement ratio has drawn worldwide attention and fluctuations in global markets. The PBOC decided on Tuesday to raise the deposit reserve requirement ratio by 0.5 percentage points as of Jan 18, which analysts translated as a move to manage inflationar...
China's National Stadium, commonly known as the Bird's Nest, has reported revenues of 370 million yuan ($54.2 million) since the 2008 Beijing Olympics, managers said Thursday. The income was generated by visitor tours and a series of commercial events, said a spokesman with the the administration commission of the Beijing Olympic Park, without giving a ...
China plans to restructure shanty towns in the country and clear up idle land to increase land supply, in the latest efforts to add more affordable housing for low-income families, government officials said yesterday. "We are striving to finish the restructuring of shanty towns within five years," said Qi Ji, vice-minister of housing and urban-rural devel...
Two centrally administered State-owned Enterprises (SOEs) are to be merged soon to increase their input in energy conservation and environmental protection, an industry source revealed. The government has approved the merger of China Energy Conservation Investment Corp and China New Era Group Corp, two companies under the administration of the State-owned...
China's crude oil dependency reached alarming levels last year with more than half of the country's total oil consumption coming from abroad, latest official statistics show. Figures from the General Administration of Customs show imported oil in December hit a record 21.3 million tons, pushing the country's total oil imports last year to 204 million t...
The central bank's hike of the reserve requirement ratio (RRR) is just a prelude to a series of tighter monetary policies. Further steps, including increasing bank reserves, raising interest rates and direct credit controls, are widely expected to come into effect, said economists. The People's Bank of China (PBOC), the central bank, unexpectedly hiked ...
China's civil aviation industry moved out of the red and began to report overall profits in 2009, according to Civil Aviation Administration of China (CAAC). Civil aviation firms reported total profits of 12.2 billion yuan ($1.79 billion), compared with 2008's losses of 26 billion yuan, said Wang Changshun, deputy director of the CAAC, at a national civ...
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