The Chinese government will subsidize 63.2 billion yuan - 8.1 billion yuan more than last year - to build 3 million economically affordable houses and rebuild 280 million houses in 2010, according to the government report delivered by Premier Wen this morning.
The move is aimed at curbing China’s soaring housing prices.
The government will resolutely curb [...]
Ping An Insurance (Group) Co of China has no plans this year to raise capital, board chairman Ma Mingzhe told reporters, according to Friday’s Guangzhou Daily.
Ping An, China’s second largest insurer, is waiting for approval to acquire Shenzhen Development Bank. The company has no plans to buy shares in other banks or real estate companies [...]
The Industrial and Commercial Bank of China (ICBC), the world’s biggest lender by market value, will adjust this year’s total amount of lending, Yang Kaisheng, ICBC president and a member of the Chinese People’s Political Consultative Conference, told chinadaily.com.cn Friday.
Yang said that huge investments were made in the national economy last year to stimulate domestic [...]
The majority shareholder of Okay Airways Co., China’s first private airline, has changed ownership after a private logistics company took a 71.4-percent stake of the shareholder, the airline said Thursday.
Wang Shusheng, chairman of Tianjin Datian W. Group Co., has taken over as chairman and legal representative of Okay Airways from Wang Junjin, chairman of Juneyao [...]
China will expand its high-speed rail network to be the world’s largest in coming three years with a total length of 13,000 kilometers, according to Thursday’s China Securities Journal.
By the end of 2012, China would have more than 110,000 kilometers of operational railways, including 13,000 kilometers of high-speed rail, said Liu Zhijun, Minister of Railways [...]
The operating length of China’s high-speed railway will reach 13,000 km by the end of 2012, forming the world’s largest high-speed railway network, according to the latest plan of the Ministry of Railways, the China Securities Journal reported.
In the next three years China will see 26,000 km railways put into use, among them 9,200 km [...]
