China’s bank lending, fixed-asset investment both slow

Bank lending and investment spending, the foundation stones upon which much of China’s stimulus plan was built, saw slower growth in February, the Wall Street Journal reported.

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Official: China’s environment still deteriorating

Zhang Lijun, China’s vice minister of environmental protection, said Wednesday that overall the country’s environment is still deteriorating, with improvements only seen in certain areas, <a target=”_blank”

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CITIC Group considers spinning off real estate business

CITIC Group, the state-owned financial conglomerate, is planning to spin off its real estate unit in an initial public offering in order to raise funds for expansion, state media reported. Speaking at

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SDB sees eightfold increase in 2009 net profit

Shenzhen Development Bank (SDB; 000001.SZ) posted a net profit of US$736.9 million for 2009, more than eight times the figure for a year earlier, the Wall Street Journal reported. The

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Air China plans new share issue worth $952m

Air China (0753.HK, 601111.SH, AIRC.LSE) plans to raise about US$952 million through a new share issue in order to pay down debt, Reuters reported. The announcement comes just three days after China Southern Airlines

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BoC seeks to boost foreign business organically, not through M&A

The chairman of Bank of China (3988.HK, 601988.SH) said the lender wants to grow aggressively overseas but doesn’t plan on making any acquisitions, the Wall Street Journal reported.

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Google could end its China censorship within weeks

Censorship of Google (GOOG.NASDAQ) searches in China could stop within weeks, but the company is unlikely to leave the country entirely, the Wall Street Journal reported, citing people

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Obama: Chinese exchange-rate reform would bring global benefits

US President Barack Obama said Thursday that China’s movement towards a more market-based currency system “would make an essential contribution to that global rebalancing effort,” Dow

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China’s bank lending, fixed-asset investment both slow

Bank lending and investment spending, the foundation stones upon which much of China’s stimulus plan was built, saw slower growth in February, the Wall Street Journal reported.

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Navy does not want to be ‘world police’

Zhang Deshun, former deputy chief of staff of the PLA navy, stated that the country harbors no ambitions to build military bases overseas, state media reported. Although the retired officer indicated that

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China Mobile to take 20% stake in Shanghai Pudong Development bank

China Mobile will buy a 20% stake in Shanghai Pudong Development bank for US$5.83 billion, Dow Jones reported. China’s largest mobile carrier hopes the move will help it to expand

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Geely needs US$1.4 billion to save Volvo

Zhejiang Geely Holding Group will likely spend more than US$1.4 billion to breath life back into Volvo Cars after acquiring the struggling Swedish automaker from Ford, Bloomberg reported. According to

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CBRC chairman promises closer monitoring of new loans

The chairman of the China Banking Regulatory Commission (CBRC) said that the regulator would ensure that "every cent" of bank loans this year enters the real economy, <a target=”_blank”

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50% down payment now required for land purchases

According to a message posted on its web site, the Ministry of Land and Resources will now require a down payment of 50% for land purchases, Bloomberg reported. The down payment must be paid within a month

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Property prices rise 10.7% yoy in February

Property prices in China rose 10.7% year-on-year in February, according to new figures released by the National Bureau of Statistics, the Wall Street Journal reported. While

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China’s exports rose 45.7% in February

China’s exports rose 45.7% year-on-year in February, up from the 21% growth reported in January, the Wall Street Journal reported. The significant increase is

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Consumer prices up 2.7% in February

China’s consumer prices rose 2.7% in February, up from a 1.5% increase in January, AP reported. The producer price index rose 5.4% in February, up from a 4.3% in January. Higher food prices were

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Chinese student fined $500 for airport breach

A Chinese graduate who provoked a US airport lock-down when he snuck through a security barrier to see his girlfriend has apologized for the trouble he caused, AP reported. Jiang Haisong,

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US mulls Google legal challenge

The US is considering legally challenging China over internet restrictions imposed on Google and other American companies, Reuters reported. But US Trade Representative Ron Kirk said that while a case

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British Foreign Minister to visit China, discuss Iran

British Foreign Minister David Milliband will visit Beijing and Shanghai next week for talks on China-Britain relations, state media reported. Chinese Foreign Ministry spokesman Qin Gang said that Milliband will meet

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China approves Copenhagen accord

China has finally added its name to the Copenhagen agreement on voluntary limits on greenhouse gas emissions, AP reported. Su Wei, China’s top climate change negotiator, gave permission

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Car sales slow in February

Industry data has revealed that auto sales in China continued to rise last month, although the rate of sales was down from January’s figures, the Wall Street Journal

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No gold rush for China

A top Chinese official said that China has muted interest in building up gold reserves, Reuters reported. The comments of Yi Gang, head of the State Administration of Foreign Exchange, caused global gold prices to fall

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SAFE says China’s forex holdings are normal

China’s vast foreign exchange reserves are diverse, long term investments and will not be used to speculate on currency markets, Reuters reported, quoting a senior government official. Yi Gang, head of the State Administration

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Beijing court throws out Avatar plagiarism case

A Beijing man who claimed that director James Cameron’s sci-fi epic Avatar was a plagiarism of his online novel had his case dismissed by a Beijing court, AFP reported. Zhou Shaomou was demanding

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