Mainland-based banks were approved by the central People's Bank of China (PBOC) to expand their bankcard business in Hong Kong and China Construction Bank (CCB), the country's third largest lender, became the first of the 'Big Four' banks to issue a RMB-denominated card there. Since January 18 bankcards issued by domestic banks with the logo […]
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MOFCOM imposes tariffs on steel
China's Ministry of Commerce set antidumping tariffs ranging from 3% to as high as 55% for cold-rolled steel products from South Korea, Russia, Ukraine, Kazakhstan and Taiwan. South Korea's Posco was exempt. The ministry ruled that local industry was harmed by the imports and set various tariff rates for different countries and companies.
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Company index
Company index Accor 5 AIG 12 Air China 9, 21 Alstom 6 American Express 23 ANA 21 Anadarko 16 Baosteel 6, 10 Beijing Automotive 10 Beijing Huayuan Property 4 Beijing Sanyuan Foods 9 BG 16 Boeing 21 BP 15 Brilliance China 10 Business Travel Int�l 23 Carlson Wagonlit 23 China Airlines 21 China Eastern 21 […]
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China may revalue RMB
China will make a one-off revaluation of the renminbi (RMB) within the first quarter of the year and move to a trade-weighted basket of currencies to set its exchange rate by the second half, investment house Goldman Sachs said. It expected China to revalue the RMB by 2.5% against the US dollar in a "prudent […]
Administrative regions in southern China plan to form an economic bloc with Hong Kong and Macau to sustain rapid economic development and better compete with the booming Yangtze River delta region. The proposed "pan-Pearl River Delta region" is scheduled to be inaugurated at a government meeting this May. It will include Guangdong, Guizhou, Fujian, Hunan, […]