Morgan Stanley Asia Chairman Stephen Roach said a sharp upward revaluation of the yuan would lead to a disastrous outcome for the United States and it would end up as a "lose-lose situation" for both Washington and Beijing.
With more celebrities making a fortune in the Chinese stock market, the famous basketball player, Yao Ming is also getting on board. Beijing Unistrong Science & Technology Co Ltd, a high-tech firm in Beijing's Zhongguancun, issued its fundraising plan yesterday. The company plans to raise 469 million yuan through offering 30 million shares on ChiNext.
The nation's largest aluminum producer is in talks with Rio Tinto Group on potential projects amid reports that they will jointly develop a $12 billion iron-ore project.
China iron ore imports rise 6% on 'bullish' mills
Iron ore talks still deadlocked Special
The young woman has become a web celebrity with her Haiyan garment factory employing more than 100 staff and a popular online store at Taobao.com, China's largest e-commerce site similar to eBay.
China's need for private investment - partly due to economic growth and restricted access to the public market - has attracted a slew of high-profile investment bankers to join the private equity (PE) or venture capital (VC) practice.
There are now more billionaires in China than any other country besides the United States, according to Forbes magazine.
A total of 64 people from the Chinese mainland made the Forbes magazine list of the world's richest billionaires, moving up to take second place for the first time.
Chinese entrepreneur Zong Qinghou, CEO of eastern Hangzhou's Wahaha Group, is the wealthiest person in China, according to a rich list released Wednesday by Forbes Magazine.
Goodman Group, the world's third largest logistics facilities operator, said it expects to increase its investments in China 500 percent within five years, backed by further support from cornerstone investor China Investment Corp (CIC).
Ren Zhiqiang, chairman of Hua Yuan Real Estate Group, got the highest salary last year among the 258 listed companies that have disclosed their annual reports as of Monday despite the real estate developer‘s poorer performance in 2009, reported China Business News.
China's $2.4 trillion stockpile of foreign exchange reserves is appropriately diversified in dollars, euro and yen and is not used for short-term speculation in the currency markets, a senior official said on Tuesday.
Roubini cautious on yuan growth
China reaffirms to keep yuan basically stable
Private lender China Minsheng Banking Corp has decided to shift its lending focus to small enterprises, and no longer considers large enterprises as the main cash cow, Dong Wenbiao, chairman of the bank said on Thursday.
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