China Sector Watch: Energy
This is the second of a series that will take an in-depth look at the industries that are shaping Chinese economy today. By Joyce Roque Mar. 2 – Prior to Deng Xiaoping’s landmark market reforms, the country’s energy sector was fully-controlled by the state. Fast-forward 30 years and changes in China have been nothing short […]
China to Release Details of Stimulus Package
Mar. 2 – The National Development and Reform Commission (NDRC) has announced that it would publicly release detailed information on how the stimulus plan will be spent as well as accept public enquiry. The move comes from months of public pressure calling for transparency of the use of the country’s four trillion yuan stimulus package. […]
Shanghai Airlines to Raise RMB1 billion
SHANGHAI, Feb. 27 – Shanghai Airlines will raise a RMB1 billion capital injection through the private issuance of 222 million shares to Jinjiang International Holdings at RMB4.5 per share. The struggling airline has been in dire straits recently; a result of a weakening travel market, the airline announced last month that it expected their net […]
Jiangsu Province Stricter with FIE Registration
Feb. 27 – The State Administration of Foreign Exchange (SAFE) of Jiangsu Province is becoming stricter on rules regarding new foreign invested enterprises (FIE) to prevent abuse. In the past, local companies and individuals have been caught setting up offshore companies and using it to incorporate in China and take advantage of the benefits offered […]
Hong Kong Unveils Stimulus Package
HONG KONG, Feb. 27 – John Tsang, Hong Kong’s financial secretary, issued the territory’s budget for 2009-10 on Wednesday, introducing a raft of measures aimed at protecting Hong Kong from the worst of the economic downturn. The government earmarked HK$1.6 billion for the creation of 62,000 jobs, while taxpayers in Hong Kong will receive a […]
Guangzhou Extends Aid for Migrant Workers
Feb. 27 – Guangzhou City government plans to extend aid to unemployed migrant workers by offering online job interviews and opening a local television channel for job vacancies and training. The capital of Guangdong Province, the city is a top destination for migrant workers. While the government already has a job interview system in place […]
China’s Postal Savings Bank to Play Key Role in Spreading Rural Wealth
Feb. 26 – China’s Postal Savings Bank, a relatively obscure yet powerful entity formed in 2007, will be the main infrastructure driver for getting income into rural areas under the country’s economic stimulus plan. The bank, which was initially capitalized at RMB20 billion, was formed following a restructuring of the State Post Bureau, and consequently […]
China Industry: Feb. 26
Feb. 26 – This is a regular series of relevant industry news from around China. Solar power According to a report by Bharat Book Bureau, in 2008, the additional installed capacity of wind power in China was 6.3 GW and the total installed capacity reached 12.2 GW. The total installed capacity of wind power in […]