BEIJING (Reuters) - Chinese Premier Wen Jiabao said his government has scored initial success in taming inflation, and told banks to lend more to small firms and tolerate high levels of bad debt from them, official media reported on Wednesday.
Reuters - Chinese Premier Wen Jiabao said his government has scored initial success in taming inflation, and told banks to lend more to small firms and tolerate high levels of bad debt from them, official media reported on Wednesday.
BEIJING — China’s home price inflation may be steeper than official data suggest, with a near quadrupling of home sales in the capital last week after the government unveiled tax plans to curb speculation, a sign that investors have giant gains to lock in.
Pre-owned home sales in Beijing soared 280% year-on-year in the week of March 2-8, according to local government data, and were up 141% on the previous week.
SHANGHAI — Facebook, Twitter and other websites deemed sensitive and blocked by the Chinese government will be accessible in a planned free-trade zone (FTZ) in Shanghai, the South China Morning Post reported on Tuesday.Citing unidentified government sources, the Hong Kong newspaper also said authorities would welcome bids from foreign telecoms firms for licenses to provide Internet services in the zone.China’s ruling Communist Party aggressively censors the Internet, routinely deleting online postings and blocking access
The Ponzi schemes and off-balance sheet loans in China's banking system are in the forefront of today's news. Reuters reports Bank of China executive warns of shadow banking risks
A senior Chinese banking executive has warned against the proliferation of off-book wealth management products, comparing some to a Ponzi scheme in a rare official acknowledgement of the risks they pose to the Chinese banking system.
Chinese Premier Wen Jiabao said Sunday that the country's economy faces downward pressure as he called for more aggressive moves to keep growth on track, state media reported.China cut interest rates from Friday, following a similar move early last month, as the government seeks to avert a hard landing for the world's second-largest economy."Currently, China's economy is generally stable, but downward pressure is still relatively big," the official Xinhua news agency quoted Wen as telling a government meeting in the eastern city of Nanjing.