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China's new yuan-denominated lending in September rose to 516.7 billion yuan ($75.68 billion) from 410.4 billion yuan in August, the central bank People's Bank of China said Wednesday in Beijing. The country's new yuan-denominated loans in the first nine months stood at 8.67 trillion yuan, 5.19 trillion yuan more than the same period of last year. ...
Sinopec plans to start a 1-million-ton-per-year ethylene complex in Zhejiang province by the end of the first quarter of 2010 at the earliest, industry sources said yesterday. The project is located in Zhenhai in the city limits of Ningbo. It is linked with a refinery in Zhenhai, now the biggest one under Sinopec's ownership. Sinopec, Asia's largest r...
China's property developers enjoyed a golden September as sales values maintained an upward momentum due largely to continuous relaxed lending policies. However, soaring prices may dent the industry's shaky recovery, a government think tank cautioned. China Vanke, the country's largest listed real estate developer, said the value of sales in Septembe...
Bank of China Vice-President Zhu Min may soon take up a senior position at the nation's central bank, in a move that will eventually prepare him for a crucial post at the International Monetary Fund (IMF), people with knowledge of the matter said. Though Zhu personally denied knowledge of his appointment as the vice-president of the nation's top monetar...
The general manager of China's most influential and profitable financial magazine has resigned along with dozens of her staff after a scuffle over editorial control with the publication's powerful owner. Zhang Xianghui, public relations director at Caijing Magazine, told China Daily yesterday that the journal's Daphne Wu Chuanhui and nearly 70 employee...
Credit agencies will be banned from collecting personal information in an attempt to protect individuals' privacy rights, according to a draft regulation prepared by the State Council. The new rule would be China's first nationwide regulation regarding the credit investigation system, experts said. The draft, issued by the State Council Legislative Af...
Tropical storm Parma has caused heavy economic losses in South China's Hainan province since it landed Monday, the provincial government said Tuesday. In Wenchang city alone, more than 7,600 people were relocated and the direct economic loss, mainly in the agriculture and fishing sectors, stood at 24.6 million yuan ($3.6 million). In Wanning city, wher...
A draft regulation, issued to solicit public opinions on Monday, bans credit bureaus in China from collecting personal information such as appearance, genetic data, finger prints, blood type and disease history. The draft regulation on credit reference was revealed by the State Council Legislative Affairs Office at its official website. Credit bureaus a...
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