Chinese banks will not run a great risk of bad loans should a property bubble burst because only a small part of bank lending went to homebuyers, said China's top banking regulator.
The central government will spend 100 billion yuan ($14.87 billion) over the next decade to support development of new energy and energy-saving vehicles in China, according to Miao Wei, head of the Ministry of Industry and Information Technology.
Deemed to be the largest provincial-level economy in China in the past 22 years, Guangdong has set its annual economic growth goal at about 8 percent for the next five years, which is slightly higher than the national average though lower than the goals in many other provinces.
The Chinese mainland almost doubled its number of billionaires from last year's 64 to 115 on Forbes' annual list of the world's richest people. The list was released Wednesday in New York.
The launch of an international board in Shanghai will not diminish Hong Kong's attractiveness to the mainland and foreign listings in the near term, said a former stock market regulator who used to serve on both sides.
China's largest home appliance retailer GOME said late Wednesday that its chairman Chen Xiao has resigned. Zhang Dazhong will take over as chairman and non-executive director, the electronics giant said in a statement.
Gome Electrical Appliance Holdings Ltd is likely to appoint Zhang Dazhong as the new chairman of the board, sina.com reported Wednesday, citing sources close to the matter.
China Vanke Co Ltd's Chairman Wang Shi has become the richest property developer in China, with 7.6 million yuan ($1.13 million) in earnings in 2010, Guangzhou Daily reported Tuesday.
China will take measures to fulfill its promise of cutting carbon intensity by 40 to 45 percent from 2005 levels by 2020, Zhang Ping, head of the National Development and Reform Commission (NDRC), told a news conference on Sunday.
The Chinese government will inject more capital into China Investment Corp (CIC), the country's $300 billion sovereign wealth fund, to ease pressures resulting from the nation's high foreign exchange reserves.
Zhang Shuguang, former deputy chief engineer of China's Ministry of Railways (MOR) has been removed from office and placed under investigation over alleged "severe violation of discipline", the ministry said Tuesday.
Sony Ericsson Corp has fought back from a period of unprofitability and is now looking to forge a unique position among Android phone manufacturers by capitalizing on the entertainment technologies of its parent Sony Corp, said the joint venture's president for China operations.
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