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In line with the recent drop in international crude oil prices, China may consider cutting its retail fuel prices at the end of this month, said industry insiders. Xu Bin, analyst with Changjiang Securities, said the government is likely to adjust fuel prices under the current change in global crude prices. "If the international prices drop below $60 per b...
Controversial Internet filter Green Dam will be included with some PC packages sold in China, despite a decision to delay the software's launch. "The Green Dam porn filter will be included in all PCs participating in our August promotion, which targets students and their parents," said Wu Shaodong, an Acer sales representative in Beijing. Wu believed t...
China is set to receive about $9 billion from the International Monetary Fund's Special Drawing Rights (SDRs) - the highest among all emerging nations - to boost its economy. However, the nation is more concerned about whether it would get a better say in the running of the multilateral body to justify its growing economic weight, experts said. Under t...
China Life Insurance (Group) Company reported on Tuesday that its premium income totaled 186.51 billion yuan ($27.3 billion) in the first half year. The figure accounted for 30.7 percent of the total premium income of the industry in China in the first six months, said the company. In the first half of 2008, the company saw its premium income climb 46.8...
China Petroleum and Chemical Corp (Sinopec), the nation's largest oil refiner, said Tuesday that it processed 86.9 million ton of crude oil in the first half of 2009, up 1.82 percent year-on-year, despite the economic slowdown. Sinopec reported earlier that the amount of crude oil it refined fell 3.27 percent year-on-year in the first quarter. The comp...
The Chinese government started a pilot program on Tuesday to provide subsidies to solar-power projects to boost the solar industry as a new growth point for the country's economy. The Ministry of Finance said on its website that it will offer 50 percent of investments for solar power projects of more than 500 megawatts and the transmission and distributi...
Wuhan Iron and Steel (Group) Corp, a major iron and steel company in central China, signed an agreement with Australian Centrex Metals Ltd (CXM) on Monday for joint development of iron ore mines in southern Australia and other projects. Under the agreement that has yet to be approved by the two governments, CXM's listed company will issue 15 percent more...
A total of 26.4 billion yuan ($3.9 billion) was allocated to fund minimum living allowances to China's urban and rural poor Monday by Chinese ministries of finance and civil affairs. Of the total, 13.8 billion yuan will be allocated to urban low-income residents, with the remaining 12.6 billion yuan on rural low-income residents, said a statement release...
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