China Trade Information

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 contract or face the prospect of losing the land along with their deposit, according to a directive issued by the ministry on Thursday. Read the rest of this entry »

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 proportion paid for social insurance to the total salary is twice the average level of the other three BRIC countries, namely Brazil, Russia and India; three times the average of five Nordic countries - Denmark, Finland, Iceland, Norway and Sweden; 2.8 times the average of G7 countries, and 4.6 times as much as Hong Kong, Taiwan and neighboring countries in East Asia, according to the research. Read the rest of this entry »

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 third largest bank by market value, in January declared it would sell no more than 40 billion yuan (5.86 billion U.S. dollars) of bonds convertible to A shares to improve capital adequacy. Read the rest of this entry »

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 72 percent of the total bad loans of all Chinese commercial banks, the CBRC said in a statement on its website. Read the rest of this entry »

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. Read the rest of this entry »

Event Profile:
International Exhibition of Frozen & Refrigeration Technology Equipment & Cold Chain Logistics is one of the premier exhibition in China. The event will provide a best platform to meet all the professionals from related industry under one roof at the Shanghai Mart Exhibition Hall. The trade show is being organized by Beijing Gold Trade International Exhibition Co., Limited.
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