The detailed rules of the pilot financial reform scheme in Wenzhou, Zhejiang province, will soon be unveiled.
Lin Chunping, a Wenzhou entrepreneur who fabricated a story about purchasing a US bank, is being sought by police on suspicion of illegally issuing value-added tax invoices.
Loan exchange that can help brokers fast-track government procedures and provide them with legal and notary services may forge a profitable path.
The central government may officially issue detailed plans for Wenzhou's financial reforms as early as this month, a Wenzhou official has said.
An ex-tycoon, convicted of illegal fundraising, had her death sentence commuted.
The central government may officially issue detailed plans for Wenzhou's financial reforms as early as this month.
Small businesses in Wenzhou can now be established with zero registered capital, and they can borrow using their equity as collateral.
Private lending rates in Wenzhou has fallen by three percentage points to around 22 percent from a year earlier, according to a newly-introduced interest rate monitoring mechanism.
Private lending in the eastern city of Wenzhou shrank by 30 percent compared with August last year.
Private lending in Wenzhou shrank by 30 percent compared with August last year after the government set up a pilot zone in the city.
The city of Wenzhou was a symbol of family workshops, township enterprises, small commodities, housing speculators and private capital.
A center that will monitor and act as a clearinghouse for private lending opened in Wenzhou, Zhejiang province, on Thursday under a 12-point pilot plan to reform the city's financial industry.
The Supreme People's Court did not approve the death sentence for Wu Ying, who was convicted of cheating investors out of several hundred million yuan.
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