China Business News Archive

• Loan growth slowing down in 1st 7 months
  Updated: 2004-08-12
  The growth of loans significantly slowed during the first seven months of this year, which indicates the government's economic macro control measures are taking effect, the People's Bank of China (PBOC) said yesterday.
• China's door now wide-open for foreign banks
  Updated: 2004-08-05
  Chinese financial authorities' newly-announced policy loosening restrictions on foreign banks indicated the Chinese Government's commitment to opening up the sector and will increase their growth in the local market, analysts said.
• CBRC relaxes rule on finance companies
  Updated: 2004-08-04
  The China Banking Regulatory Commission (CBRC) yesterday issued a new regulation on the management of finance companies of enterprise groups.
• Tianjin setting up trade park in US
  Updated: 2004-08-10
  The Tianjin Port Free Trade Zone has received approval from the Ministry of Commerce to open a trade and industrial park in the United States.
• China-ASEAN agriculture trade on fast track
  August 10, 2004
  The trade of agricultural produce between China and her ASEAN neighbors has benefitted from an early-harvest programme that was put in place beginning this year.
• Yunnan reports US$2.5b in border trade in 1st half
  Updated: 2004-08-08
  Southwest China's Yunnan Province handled US$2.5 billion in border trade during the first six months this year, a 25.4 percent rise over the same period of 2003, according to local customs.
• Pushing ahead reform of asset management
  September 10, 2004
  The China Insurance Regulatory Commission (CIRC) will strive to deepen the reform of insurance asset management mechanisms so as to resolve problems in the management of insurance funds, a top official said yesterday.
• China registers a 15.9% industrial growth
  September 10, 2004
  China's industrial production growth accelerated in August, fueling speculation the central bank will raise its benchmark interest rate for the first time in nine years.
• China Southern to expand aircraft fleet
  China Southern Airlines Northern Company, a subsidiary of China Southern Air Holding Company, said yesterday it is going to introduce 23 Airbus A320 Family aircraft to replace its MD-82 and MD-90 aircraft.
• Container maker to tap trailer business
  Updated: 2004-09-06
  After consolidating its leadership in the container sector, China International Marine Containers (CIMC) is focusing efforts to become one of the world's top trailer makers in coming years.
• GM obtains approval for auto finance
  Updated: 2004-08-06
  The financial arm of General Motors (GM) announced yesterday that its joint venture with a Chinese partner had obtained the final nod from the China Banking Regulatory Commission (CBRC) to start operations.
• Foreign capital to fund railway construction
  Updated: 2004-08-06
  The Ministry of Railways' plan to allow private capital, including foreign investments, to fund railway construction projects will be made public by year's end, confirm sources close to the ministry.
• Hospitals may open to private investment
  Updated: 2004-08-03 11:41
  State capital will gradually be reduced from public hospitals, which is regarded as a major step in the reform of China's medical system.
• ASEAN recognizes China as market economy
  Updated: 2004-09-06
  JAKARTA: Member countries of the Association of Southeast Asian Nations (ASEAN) announced on Saturday they recognize China's full market economy status.
• China Life eyes further restructuring
  Updated: 2004-09-03
  China Life, the country's flagship life insurer, is gearing up to further its product restructuring.
• China state firms' profit rises 42.1%
  Updated: 2004-08-31
  China's 474 key State-owned enterprises (SOEs) reported a 42.1 per cent profit growth in the first seven months of the year, statistics from the State-owned Assets Supervision and Administration Commission said yesterday.
• China passes law legalizing electronic deals
  Updated: 2004-08-29
  China's top legislature on Saturday passed the Law on Electronic Signature to boost electronic business, which for the first time legalizes increasing electronic deals.
• Business benefits from Olympic performance
  Updated: 2004-08-29
  When Li Ting and Sun Tiantian defeated Spanish players at women's tennis double final on Aug. 23, Beijing's Sanlitun bar street was flooded with joyful shouts at China's first Olympic tennis gold medal.
• World oil price spike hits Chinese market
  Updated: 2004-08-26
  China Wednesday raised the price of refined oil products for the first time in three months to reflect the oil price spike on the international market.
• Firms discuss cross-border gas pipeline
  Updated: 2004-08-25
  China and Kazakhstan are reviewing the possibility of building a pipeline to deliver natural gas from western Kazakhstan to Xinjiang Uygur Autonomous Region, on China's western border, to satisfy the country's increasing gas demands.
• NPC to legalize online signatures
  Updated: 2004-08-25
  Legislators are considering passing a law on electronic signatures to promote online business in China.
• Cosco Pacific to bolster container business
  Updated: 2004-08-21
  Cosco Pacific Ltd, the port arm of China's largest shipping company, will spend 1.06 billion yuan (US$128 million) on a 16 per cent stake in China International Marine Containers (Group) Co (CIMC), the world's top maker of shipping containers.
• Fixed asset investment grows 31.1%
  Updated: 2004-08-20
  China's fixed asset investment grew 31.1 per cent during the first seven months of the year compared with the same period a year ago, the National Bureau of Statistics said yesterday.
• China Mobile (HK) posts strong performance
  Updated: 2004-08-20
  China Mobile (Hong Kong) Ltd (CMHK), the world's largest mobile phone carrier by users, posted interim earnings of 18.83 billion yuan (US$2.27 billion), an increase of 7.8 per cent year-on-year, driven by growing subscribers and usage fees as well as the expansion of new business.
• China's retail sales rise 13.2% in July
  Updated: 2004-08-14
  China's retail sales rose 13.2 per cent in July compared with the same month a year ago, the National Bureau of Statistics said on Friday.
• Sharp profit rise expected for central SOEs
  Updated: 2004-08-14
  China's 189 central State-owned enterprises (SOEs) are expected to experience sharp profit growth in 2004, fuelled by the high market demand of energy and power.
• Watchdog outlines overseas listings criteria
  Updated: 2004-08-12
  China's securities watchdog has set up criteria for overseas listings of subsidiaries of domestic listed companies to protect interests of public shareholders.
• China's inflation rate continues to rise in July
  Updated: 2004-08-12
  China's consumer price index (CPI) rose 5.3 percent year-on-year in July, mainly due to the lagging effect of price hikes at the end of 2003 and one-time factors, said the monthly report released by the National Bureau of Statistics (NBS) Thursday.
• PetroChina goes solo on gas line project
  Updated: 2004-08-05
  PetroChina officials and industry analysts yesterday insisted that the US$14.5-billion west-east gas pipeline project will be unaffected by the collapse of the proposed joint venture between PetroChina and a foreign consortium.
• Gov't determined to develop biotech
  Updated August 4, 2004
  China is reshuffling its biotechnology management system and working on a long-term plan to fuel development of the biotech industry, but industry experts say more private involvement is needed if China wants to become a true biotech giant.
• China tackles underlying economic problems
  Updated August 3, 2004
  China has realized some fundamental economic problems contributing to the ongoing overheating in certain economic sectors and has begun to take actions against them.