China may take “preemptive” measures to revive growth as the financial crisis increasingly takes its toll on the economy, the central bank said yesterday.
The People’s Bank of China will be flexible and has “ample room” for policy changes, it said in a quarterly monetary policy report posted on its Website. It will ensure money-supply liquidity, [...]
HSBC Bank (China) Co yesterday launched its debit cards in 17 Chinese mainland cities.
HSBC China card holders will also be able to use their cards at China UnionPay Co’s domestic and overseas networks in about 50 markets after a deal signed yesterday.
Tags: bank, Citibank, HSBC
China’s top banking regulator rated the country’s banking industry as healthy with total assets increasing rapidly, bad loan rates dropping and capital adequacy ratio (CAR) rising.
“The performance of Chinese banks has reached a historic peak,” said Jiang Dingzhi, vice chairman of the China Banking Regulatory Commission (CBRC), at a financial forum in Beijing on Saturday.
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The government is likely to levy fuel tax soon while rolling back road tolls and maintenance taxes, a senior researcher close to energy policy makers said Tuesday.
Tags: Fuel, tax
Chinese government on Wednesday launched a major campaign to reform its dairy industry in an attempt to restore consumer confidence.
The State Council wants to upgrade the entire industry from cow breeding to final sales.
The tainted milk powder scandal was a major food security incident. It not only damaged the health of babies and children, but [...]
The central government Wednesday unveiled a robust plan to clean up and revive the dairy industry, which was hit hard by the recent milk contamination scandal.
The plan, jointly prepared by 13 departments and made public on the website of the National Development and Reform Commission (NDRC), sets three targets for the industry’s development.
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