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PRICES

Cooking Oil Companies Halt Production After NDRC Imposes Price Freeze

On December 2, the National Development and Reform Commission ordered the four largest domestic cooking oil producers to not raise the price of their products over the New Year and Spring Festival period. Due to pricing pressures that meant they would be operating at a loss if they sold their products at the price set by the NDRC, on the same day, the Sanhe Hopeful Grain & Oil Group (三河汇福粮油集团) sto...

Chongqing Evening Post | 2010-12-13

BEIJING TRAFFIC

Beijing Proposes Stricter Traffic Control Measures in Response to Congestion

To alleviate ever worsening traffic congestion on the capital's roads, the Beijing government has released a list of measures including the introduction of congestion fees in certain areas, halting the purchase of government cars for the next five years and the re-introduction of the odds-and-evens system that was used during the Olympic period in 2008 and kept half of all cars of the road each da...

The Beijing News | 2010-12-13

ECONOMICS

Central Economic Work Conference Concludes Stabilizing Prices a Priority

Leaders of China's ruling Communist Party decreed that they would continue to maintain the current "proactive" fiscal policy but shift monetary policy away from the previous "moderately loose" to a "prudent" setting next year at the close of this year's Central Economic Work Conference. The annual conference, which was held in Beijing from December 10 to 12, also committed the government to stabil...

The Beijing News | 2010-12-13

CRIME

Suspect in Dongzhimen Explosion Case Arrested

Police have officially arrested a man suspected of being involved in the explosion that injured an American near Beijing's Dongzhimen subway station on October 21 this year. Lei Sen, a 21 year-old man from Peng'an County in Sichuan Province was first detained on Oct 27. The report describes the young man as being "withdrawn" and having a "strong inferiority complex" and that he was motivated by a ...

The Beijing News | 2010-12-13

BANKING

Central Bank to Raise Reserve Ratio by another 50 Basis Points

The People's Bank of China, the country's central bank, posted a notice to its official website at about 6pm this evening announcing that it had decided to increase the reserve ratio of deposit-taking financial institutions by 0.5 percentage points, as of December 20. This is the sixth time this year that the central bank has officially raised the ratio, taking the the required reserve ratio for t...

Peoples Bank of China | 2010-12-10

AUTO

NDRC: Tax Rebate for Small Cars to End Next Year

The National Development and Reform Commission has announced that a tax incentive introduced to encourage the purchase of small cars will come adjusted at the beginning of next year. The government cut the purchase tax on small vehicles from 10 percent to 5 percent in January 2009. The tax will be raised to 7.5 percent for the coming year.

Phoenix News Online | 2010-12-10

FINANCE

China's Budget Deficit to Continue to Expand

Yesterday, the Deputy Director of the Ministry of Finance's Financial Research Institute Su Ming stated that China will continue to carry out a proactive fiscal policy and that central budget deficits will be further expanded this year. He also said that the fiscal deficit will be kept at 3 percent of GDP.

Securities Times | 2010-12-10