The highly anticipated Beijing-Shanghai bullet train, with a speed of 218 mph, is expected to be put into use by 2012, said an official with the Railways Ministry, the Beijing News reported Friday.
“The high-speed train will not travel nonstop between Beijing and Shanghai. It will stop in Ji’nan, Hefei, Nanjing and Xuzhou,” said Yang Shaoqing, [...]
Ministry proposes strict measures to cool off overheated housing market
The Ministry of Land and Resources has unveiled strict measures to crack down on land hoarding in a bid to rein in soaring real estate prices.
Developers must make a 50 percent down payment on all land put up for auction within one month of signing a [...]
Chinese people have to pay 40 percent or in some areas even 50 percent of their salary to buy social insurance by law, much higher than the level of most countries in the world, Bai Chongen, an economist from Tsinghua University found in his latest research, the Xinmin Evening News reported.
In the Chinese mainland, the [...]
The Bank of China (BOC) plans to issue new Hong Kong-listed H shares, about 20 percent of its current H shares, as soon as possible, said BOC Board Chairman Xiao Gang Thursday.
But the BOC had to wait for approvals from shareholders and securities regulators on the mainland and in Hong Kong, Xiao said.
The BOC, China’s [...]
The non-performing loan (NPL) rate of China’s five major banks was down by one percentage point to 1.8 percent from the start of the year, the China Banking Regulatory Commission (CBRC) said Thursday.
Non-performing loans fell by 63.8 billion yuan to 357 billion yuan (52.3 U.S. dollars) in 2009, according to the statement, accounting for about [...]
Surging spot prices of iron ore are forcing steel mills to look for more domestic supplies, something that would also reduce their dependence on costly imports, industry insiders said.
Tags: industry, iron-ore, steel
