According to an industry insider, China's four biggest banks are likely to issue new loans of around 2.85 trillion yuan this year, this will likely mean that the total amount of new loans issued by all Chinese lenders over 2011 will be somewhere between 7
In 2010, central government ministries began to open their ministerial budgets to the public for the first time. According to information leaked from an authoritative institution, only 74 of the country's 171 central government ministries actually publish
18 provincial officials were elected last week, including four directors of standing committees of local NPC, four provincial governors and 10 presidents of local-level CPPCC. Wang Guosheng was elected as governor of Hubei Province. All of the 18 provinci
According to a reporter form the Shanghai Securities Journal, the central government is considering the feasibility of letting local governments issue bonds. If the measure passes, a statistics system and a warning mechanism will also be set up.
During an online talk with Xinhua News Agency on Sunday, Premier Wen Jiabao announced that the central government has set this year’s target GDP growth rate at 7%. He also stated that 36 million units of government-subsidized housing will be constructed i
A reporter from the Xinhua News Agency has learned from the National People’s Congress that the central government is reconsidering the retirement age for female workers and may offer an early retirement option in the near future. The current retirement a
At a meeting of the Standing Committee of China's National People's Congress (NPC) held on Feb 25, delegates voted to pass amendments to the country's Vehicle and Vessel Tax. As reported by domestic media before the congress began, the final draft of the
A recent report by China's central auditing body revealed multiple problems involving bidding for contracts related to the construction of 23 Chinese airports involving almost 2 billion yuan. According to an unnamed source within the industry, the problem
At the end of 2010, Chinese banks had over 11 trillion yuan in existing loans issued to the agricultural sector. Banks issued new loans of 2.63 trillion yuan to the agricultural sector in 2010, statistics from the China Banking Regulatory Commission revea
Li Keqiang, one of China's vice premiers and likely successor to current premier Wen Jiabao, has reiterated the central government’s determination to construct ten million policy-based houses in 2011. The Ministry of Housing and Urban-Rural Development ha
A recently published Blue Book authored by the Chinese Academy of Social Science, contains a survey revealing that 70% of public servants are willing to let their personal financial assets public. Another survey included in the report found that 81.4% of
According to an unnamed source with the China Banking Regulatory Commission, the State Council has already approved changes to China's banking regulations which are being made in keeping with the principles of the international Basel III banking reforms.
The Shanghai government recently released more details about the specific rates at which it's newly announced pilot property tax will be collected. According to the plan, properties with a unit price of below 28,426 yuan per square meter will be taxed at
Guangzhou will publish the financial accounts of Asian Games at an "appropriate time," Zhang Jieming, director of Guangzhou's financial bureau told reporters yesterday. He went on to say that the games had barely "made ends meet," while Zhong Nanshan, a d
According to an anonymous source with the China Banking Regulatory Commission (CBRC), the regulator has not ordered commercial banks to stop issuing loans to property developers. The source said the any cut back in loans to the property sector is "merely
On February 22, the Ministry of Railways issued 180-day bonds worth 10 billion yuan for railway construction, equipment purchases, and operational purposes. This is the third time that the Ministry has issued bonds this year. The single interest rate bond
Sao Ning, deputy director of the State-owned Asset Supervision and Administration Commission (SASAC) said that profits from state-owned enterprises will be invested in new assets. He also said that the net assets of centrally-owned enterprises (COEs) had
The Ministry of Education is issuing licenses to non-accredited kindergartens on the condition that they adjust standards to meet requirements. Li Tianshun, deputy director of the No. 2 section of the Ministry’s Primary Education Department, stated yester
The State Council has approved the “12th Five-Year Plan for the Prevention and Control of Heavy Metal Pollutants.” China will reduce the amount of heavy metal emissions in major cities from to 2007 levels, and will strive for further reductions in rural a
