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 [...]
The People’s Bank of China (PBOC), the country’s central bank, announced Friday it will raise the deposit reserve requirement ratio (RRR) for Chinese financial institutions by 0.5 percentage points from February 25 this year.
The ratio would not change for small financial institutions, such as the rural credit cooperatives, as the PBOC wants to support the [...]
China discovered nearly 5 billion tonnes of iron ore deposits in 2009, chief engineer with the Ministry of Land and Resources (MLR) said Friday.
The deposits were discovered in provinces including northeastern Liaoning, northern Hebei, eastern Shandong and Anhui,and southwestern Sichuan, said Zhang Hongtao, MLR chief engineer.
The total discovered deposits included an iron ore deposit withan [...]
Shanghai Pudong Development Bank (SPDB), a medium-sized commercial bank, said its net profit grew 5.4 percent to 13.2 billion yuan ($1.93 billion) last year.
The lender, which is partly owned by Citigroup Inc, also said 2009 revenue rose 5.43 percent to 36.4 billion yuan in a full-year preliminary statement to the Shanghai Stock Exchange yesterday. Earnings [...]
Macao saw its resident deposits reached 206.2 billion patacas (26.1 billion U.S. dollars) in October, an increase of 1.3 percent over the previous month, according to the figures released on Monday by the Monetary Authority of Macao Special Administrative Region (SAR).
Of the resident deposits, pataca and Hong Kong dollar deposits grew at respective rate of [...]
Chinese urban residents showed more willingness to invest and spend in the fourth quarter this year, according to a survey launched by the nation’s central bank.
The People’s Bank of China survey showed 42.1 percent of urban residents chose to put their money in investment, such as property market, bonds and funds.
The figure was up 0.5 [...]
