Reform must be incremental

2011-06-11 10:58:25

Over the last 32 years, China has undergone an impressive economic transformation, including an average annual GDP growth of 9.5 percent. It has overtaken Germany and Japan to become the world's second largest economy. In 2008, when the global financial began, China emerged as the counterbalance to failing economies in the West, and achieved a GDP growth of 11.2 percent in 2010.

Vice-President Xi signs 9 agreements in Chile

2011-06-11 10:54:33

Chinese and Chilean leaders have expressed their willingness to further tighten their already close relationship.

World Bank OKs $150m loan to Shandong

2011-06-11 10:33:04

The World Bank has approved a $150 million loan to China for improvements in energy efficiency in the eastern province of Shandong, the bank said in an emailed statement.

Shenzhen to collect home-sales tax

2011-06-11 10:32:00

Shenzhen will impose a transaction tax on existing home sales based on a reference price determined by market conditions, the city's taxation administration said in a statement on its website.

Huaxin and Morgan Stanley form JV

2011-06-11 10:30:34

Morgan Stanley on Friday formally unveiled a new joint venture with Huaxin Securities Co Ltd, in a move to boost its presence in China's investment banking industry.

Safety worries stall selling of human breast milk

2011-06-11 10:28:48

Amid growing concern about food safety problems across the country, customers are most concerned about dairy products, leading to a "black market" in human breast milk.

US brokerage moves on Chinese 'accounting scandals'

2011-06-11 09:58:58

Interactive Brokers Group Inc earlier this week banned clients from borrowing money to buy any of 160 Chinese securities, the company's CEO said, adding that the move could prompt the nation to toughen accounting standards.

Samsonite cuts size of Hong Kong IPO

2011-06-11 09:56:46

Samsonite International SA, the luggage maker backed by London-based CVC Capital Partners Ltd, has cut the maximum size of a Hong Kong initial public offering by 11 percent to about $1.3 billion, according to two people with knowledge of the matter.

More fund to be offered to SMEs

2011-06-11 09:50:57

While small and medium-sized enterprises (SMEs) are experiencing difficulty borrowing money from commercial banks, China Merchants Bank Co Ltd is cooperating with private-equity (PE) companies to help alleviate the problem.

CITIC Securities buys stake in brokerages

2011-06-11 09:47:54

China's largest listed brokerage Citic Securities Co Ltd will pay $374 million for a stake in Credit Agricole SA's CLSA and Cheuvreux brokerage brands, the latest push onto the global stage by China's emboldened financial sector.

Gaopeng has a profit margin edge

2011-06-11 09:41:34

The Chinese joint venture of Groupon Inc has a gross profit margin higher than the industry average, said a company official.

Financial industry must develop

2011-06-11 09:23:06

China needs to further develop and open its financial industry to better facilitate the country's overseas investment, a former senior trade official said Friday.