As of July 23, insurance companies had received almost 27,500 claims on their motor vehicle policies, with losses totaling an estimated 220 million yuan.
The Chinese government collected 10.38 trillion yuan of fiscal revenue in 2011, it said Wednesday, confirming data that was released in January and showed receipts some 15.8% higher than budgeted.
Local governments from county-level upwards will soon be required to declare their spending on banquets, cars and foreign trips, as part of the central government’s “three public expenses” (三公经费) initiative.
Hong Kong’s jewelers and watch stores recorded a year-on-year fall in May sales for the first time since 2009, as wider retail sales slowed in Asia's shopping Mecca.
China two biggest oil companies, China National Petroleum Corporation (CNPC) and Sinopec, have recently hiked the price at which they sell on petroleum to other domestic refiners.
The Beijing Friendship Hospital is one of six hospitals selling medication at cost price, introducing a medical service charge instead of the mark-up for treatment and registration fees.
A source from Henan's Banking Regulatory Commission has denied reports that the province has urged banks to offer loans at discount rates to first home buyers.
