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STOCK MARKET

Shanghai Composite Index Drops to 2700

The Shanghai Composite Index dropped 3.03 percent to 2706.66 points yesterday, hitting a three month low. Real Estate shares fell more than 5 percent after the central bank announced its decision to raise the required reserve ratio by 0.5 percent last Friday.

China Business News | 2011-01-18

PETROLEUM

China’s Petroleum Reserve Will Reach 85 Million Tons in 2020

China’s Petroleum reserve will reach 85 million tons by 2020, the equivalent of the country’s 90-day import volume. The Chinese government is currently planning its third oil reserves expansion project. Wanzhou District in Chongqing City, Hainan Province and Caofeidian District in Hebei Province are possible sites for new reserves.

China Economics Weekly | 2011-01-18

CSRC

CSRC Eases Regulations for Enterprises Looking to List in Foreign Markets

Shang Fulin, president of the China Securities Regulatory Commission (CSRC), said at the Asia Financial forum yesterday that the CSRC is revising regulations for Chinese enterprises looking to list in foreign markets. The new regulations will make it easier for medium and small-scale Chinese enterprises to list in the Hongkong stock market.

China Securities Journal | 2011-01-18

GDP

Beijing, Shanghai Reduce GDP Growth Targets

The Beijing and Shanghai governments will lower their target GDP growth rates to 8% during the 12th Five-Year Plan. The lower target rates are expected to benefit economic restructuring. This is the first time the two cities have agreed to reduce targets for GDP growth.

China National Radio | 2011-01-18

BANKING

Central Bank to Raise Reserve Ratio by 50 Basis Points on Jan 20

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 January 20, 2011. This is the first time this year that the bank has officially raised the ratio, and follows six adjustments to the ratio in 20...

People's Bank of China | 2011-01-14

OIL

Oil Pricing Mechanism to be Adjusted, Exact Date Remains Uncertain

According to a source close to the NDRC, a new oil pricing mechanism will be introduced, but the exact date and the details of the price adjustment have yet to be determined. The current pricing mechanism has been in place for two years.

Beijing News | 2011-01-14

SOCIETY

10 Officials Disciplined in Anhui Lead Poisoning Case

10 local and provincial officials have been found responsible after emissions from a battery factory in Huaining, Anhui Province caused abnormally high blood lead levels in 200 children. The officials, including the deputy head of county government Cao Ziquan and deputy director of the Anqing City Development and Reform Commission He Fengshen, have received administrative punishment.

JF Daily | 2011-01-14