The People's Bank of China has announced that the reserve requirement ratio to 13% for commercial banks from October 25, an increase of 0.5 percentage points, Xinhua reported (in Chinese). This is the eighth time banks' reserve ratios have been raised this year, a month after the last increase on September 25. The move is […]
Category: Economics & Trade
The National Development and Reform Commission (NDRC) has agreed to begin working alongside China Development Bank (CDB) and the Shenzhen Stock Exchange to support the development and innovation of high-tech enterprises, Xinhua reported (in Chinese). The NDRC, China's top planning agency, signed memoranda of understanding with CDB and Shenzhen Stock Exchange. Under the agreements, CDB […]
The value of the yuan is expected to fluctuate slightly this week due to the effects of the slowing trade surplus, state media reported. China's trade surplus shrank to US$23.91 billion in September from US$24.97 billion in August, according to the General Administration of Customs, a figure that still exceeded economists' expectations for the month. […]
[photopress:real_estate_Beijing_apartments.jpg,full,alignright]There is going to be a tightening up on the checks carried out on people buying low-cost, government-subsidized housing. An official with the Beijing Construction Commission said that stricter criteria will be introduced. Cheng Jianhua, vice-director of the commission’s housing management department, said, ‘Family assets, including existing housing, cars, stocks, savings and jewelry will be […]
[photopress:Hotels_Home_Inn.jpg,full,alignright]David Sun is chief executive officer of Home Inns & Hotels Management. (HMIN) With a string of 200 budget hotels across China, his company caters for frugal travelers. It’s a big market. The demand for hotel beds is booming, with growing domestic tourism and business travel. Industry observers think the young firm — which had […]