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Charity donations from individuals in 2008 for the first time exceeded those from businesses, as ordinary people played an active role in relief work for the May 12 Sichuan earthquake, said a report issued Wednesday by the Chinese Academy of Social Sciences (CASS). Donations from individuals for the year reached 45.8 billion yuan ($6.7 billion), accountin...
A corruption scandal involving two former employees at a Chinese bottling plant of beverage giant Coca-Cola Co may lead authorities to more than one bribery case, the local prosecutors' office said. "The alleged suspects were handed over from the police to us about two weeks ago, but we have yet to finish a thorough investigation as the case is complicat...
A Hepatitis B virus (HBV) carrier in Nanjing was finally granted a health certificate yesterday, allowing her to be employed in the food industry. Yesterday afternoon, officials from the health bureau of Xuanwu district, Nanjing, held a press conference and announced they had given an HBV carrier a health certificate, and promised to give fair treatment t...
Geely Automotive, the Chinese carmaker whose parent is eyeing Ford's Volvo unit, is set to raise capital through a bond issue in a move that may provide funding for a Volvo bid. Analysts, however, said the bonds could also be used for Geely to expand its car making capacity rather than to launch an immediate bid for Ford's $2 billion plus Swedish car un...
China Central Huijin Investment Ltd, the domestic arm of China's sovereign wealth fund, will be the institution that recapitalizes the Export-Import Bank of China, domestic media reported yesterday. The website of Caijing magazine cited unidentified sources as saying that Huijin, now part of China Investment Corp (CIC), has also received approval from th...
Chinese equities closed 2.02 percent up on Thursday after an overnight US market rally, setting for the highest close since Aug 14, driven up by raw-materials related heavyweights. The benchmark Shanghai Composite Index grew 60.55 points to finish at 3,060.26. The Shenzhen Component Index closed up 1.45 percent, or 178.73 points, to end at 12,473.61. ...
The benchmark Shanghai Composite Index gained 0.23 percent, or 6.99 points to finish at 3,033.73. The Shenzhen Component Index edged up 0.43 percent, or 53.18 points, to end at 12,438.24. Aggregate turnover slightly shrank to 253.84 billion yuan ($37.17 billion) from 256.37 billion yuan on the previous trading day. Gainers outnumbered losers by 535 to 3...
Encouraged by the shift in approval process, China's corporate bond market on local currency basis grew 90.9 percent from a year earlier in the first half of 2009, a report released by the Asian Development Bank (ADB) said Tuesday. At the end of June, the amount of the outstanding corporate local currency bonds reached $355 billion, the Asia Bond Monitor...
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