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Mainland stocks rose for a seventh day, sending the Shanghai Composite Index to its longest winning streak in two months. Datang International Power Generation Co gained on speculation the government will raise electricity prices. Datang jumped 6.2 percent after CLSA Asia-Pacific Markets predicted China may raise retail electricity prices. "We're still...
Poly Real Estate Group Co, Ltd, a leading Chinese listed developer, sees its sales value up more than 150 percent in the first ten months, boosted by the upbeat domestic property market. The Guangdong-based firm sold 4.46 million sq m of homes over past ten months, up 143.2 percent year-on-year. The total sales value rose 154.85 percent to 36.86 billion y...
These days, movie stars are creating a ripple, not on silver screens, but on the Chinese stock markets. Two investors, sharing the same names as actresses Xu Fan and Deng Jie, are the third and fourth largest shareholders of Zhejiang Orient Co Ltd, a Shanghai-listed textile company, the company reported in its third-quarter report last week. The two nam...
The central bank and banking regulator may "soon" issue measures to limit the use of debt in real estate purchases after asset prices climbed, a Shanghai official said. Regulators may reduce "leverage ratios", Fang Xinghai, director-general of Shanghai's financial services office, said at a forum in Beijing yesterday. "I would think that soon you will se...
Chinese equities open higher Tuesday, with the benchmark Shanghai Composite Index surpassing the psychologically important 3,200 mark, trailing gains for seven consecutive trading days. The Shanghai Composite Index rose 0.87 percent to open at 3,203.17 points. The Shenzhen Component Index added 0.75 percent to open at 13,133.66 points. Oil stock rose ac...
Home prices in 70 large and medium-sized Chinese cities nationwide rose 3.9 percent in October from a year earlier, the National Bureau of Statistics (NBS) announced Tuesday. The year-on-year price growth rate was 1.1 percentage points higher than that of September, said the NBS. Combined commercial housing projects investment nationwide hiked by 14.1 p...
China will raise both gasoline and diesel prices by 480 yuan ($70.28) a ton, from today, the National Development and Reform Commission (NDRC) announced on its website last night. The benchmark price of gasoline will be 7,100 yuan a ton and diesel will be 6,360 yuan a ton, according to the NDRC. The retail price of gasoline will climb by 0.36 yuan a lit...
As the world economy shows positive signs of recovery, Guangdong province, an export hub in south China, is also stepping out of the shadow of the global financial crisis, with insiders and experts still warning of uncertainties. In September, the province's total imports and exports were down 8.3 percent year-on-year at $60.6 billion, but the rate of de...
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