Business Times Online - China News

Incoming Chinese leader Xi seen being politically conservative

Sun, 12 Feb 2012 20:00:00 GMT

(BEIJING) Xi Jinping, the son of a revolutionary hero who worked his way up through the ranks of the Communist Party, is all but certain to be named China's next leader in a generational handover of power.

Wuhu to subsidise some home purchases

Sun, 12 Feb 2012 20:00:00 GMT

(SHANGHAI) Wuhu in eastern China will waive a deed tax and subsidise some home purchases, becoming the first city in the nation to ease property curbs this year even as the central government reiterated plans to maintain restrictions.

Canadian firms unfairly treated in China: official

Sun, 12 Feb 2012 20:00:00 GMT

(CHONGQING, China) Some Canadian resource firms are being treated unfairly in China and Beijing must deal with the problem if it wants a proper trading relationship with energy-rich Canada, a top official said.

China car sales down 24% in Jan, hit by holidays

Thu, 09 Feb 2012 20:00:00 GMT

(SHANGHAI) The year of the dragon rolled in with a whimper instead of a roar for China's auto industry, as car sales in the world's biggest auto market fell 24 per cent in January from a year earlier, industry figures show.

Expect to see more Chinese accounting scandals this year

Thu, 09 Feb 2012 20:00:00 GMT

IF you think China's reputation among investors was tarnished last year, there's more to come in 2012, according to Gordon Orr, chairman of McKinsey Asia who works out of Shanghai.

China won't force tech transfers, says minister

Thu, 09 Feb 2012 20:00:00 GMT

(BEIJING) China won't force foreign companies to transfer technology to ventures with their local partners in order to gain access to markets in the world's second-largest economy, and said recent yuan gains are not due to Vice-President Xi Jinping's upcoming visit to Washington.

Canada, China pact to spur ties

Wed, 08 Feb 2012 20:00:00 GMT

(OTTAWA) Canada and China reached an investment-protection agreement yesterday, as the holder of the world's third-largest oil reserves looks to deepen economic ties with Asia and lessen its reliance on the US.

China may soon commit up to 100b euros to bailout

Wed, 08 Feb 2012 20:00:00 GMT

(BEIJING) China may 'move shortly' to help Europe resolve its debt crisis by providing an investment of as much as 100 billion euros (S$165 billion), said Yuan Gangming, an economist at the Chinese Academy of Social Sciences.

Policy downside seen in China leadership change

Wed, 08 Feb 2012 20:00:00 GMT

CHINA is poised to undergo a significant change in its top leadership structure, which may pose a delay in its response to a potential global economic downturn led by the West, credit rating agency Standard & Poor's said yesterday.

China steelmakers rack up US$400b debt

Wed, 08 Feb 2012 20:00:00 GMT

(SHANGHAI) China's steelmakers have racked up US$400 billion in debt, which some may struggle to repay, making them a potential drag on a banking sector already facing rising bad loans from the property sector and local governments.

PBOC tells banks: Give credit to first-home buyers

Tue, 07 Feb 2012 20:00:00 GMT

(BEIJING) Banks must provide loans to first-home buyers, the People's Bank of China (PBOC) said in a statement yesterday - the first clear call to support mortgage lending since it started a policy-tightening cycle to calm the property market two years ago.

Ex-Woolworths exec is Wal-Mart China CEO

Tue, 07 Feb 2012 20:00:00 GMT

(SHANGHAI) Wal-Mart Stores named company executive Greg Foran as the president and chief executive of Walmart China, capping a series of leadership changes at the China unit that has been tainted by food scandals.

Beijing nod for Citi credit card may be sign of market opening

Tue, 07 Feb 2012 20:00:00 GMT

(GENEVA) China's decision to allow Citigroup to issue credit cards may signal an opening of the banking market as the government relaxes restrictions that are the subject of a US complaint at the World Trade Organization. Citigroup is the second foreign bank, and the first Western one, allowed to issue credit cards in the country.

China police detain director of Liren Education Group

Mon, 06 Feb 2012 20:00:00 GMT

(BEIJING) Police in eastern China detained the director of an education group that accumulated 2.2 billion yuan (S$435 million) in debt, as the country cracks down on private lending.

China set to overtake US as EU's top export market

Mon, 06 Feb 2012 20:00:00 GMT

(BEIJING) The EU ambassador to China said yesterday the Asian powerhouse could become Europe's biggest export market this year, overtaking the United States, as Beijing boosts domestic demand.

China poised to launch junk bond market

Mon, 06 Feb 2012 20:00:00 GMT

(BEIJING) China may launch a junk bond market as early as this month or next, local media said yester - a move that could expand access to credit for small, private firms now largely shut out of China's state-dominated financial system.

Chinese sales spell tougher year ahead for luxury brands

Mon, 06 Feb 2012 20:00:00 GMT

(HONG KONG) Chinese shoppers on their New Year holiday were less lavish than expected by Hong Kong jewellers, curbed spending on beauty brands and slowed spending at South Korean stores. They may keep that pace in the coming year of the dragon.

Bitter exchanges highlight China, Hong Kong divide

Sun, 05 Feb 2012 20:00:00 GMT

(HONG KONG) A bitter family feud between Hongkongers and their northern neighbours sparked by mainland China's increasing financial and political clout has led to an awkward debate about the former British colony's identity.

Chinese firms go bargain-hunting in Europe

Sun, 05 Feb 2012 20:00:00 GMT

(BEIJING) Chinese companies and funds have ramped up investment in crisis-hit Europe, buying utilities, energy firms and even luxury yacht makers, but are steering clear of eurozone debt.

China regulator publishes list of IPO applicants

Thu, 02 Feb 2012 20:00:00 GMT

(SHANGHAI) China's securities regulator has for the first time published a full list of Chinese companies that have applied for an initial public offering on the Shanghai or Shenzhen markets, in a move aimed at boosting transparency of the system.

Eighth exec detained over river pollution

Thu, 02 Feb 2012 20:00:00 GMT

(SHANGHAI) China has detained another company official, bringing the total to eight, over a massive river pollution case in the country's south, the government and state media said yesterday.

Merkel says euro made Europe stronger

Thu, 02 Feb 2012 20:00:00 GMT

(BEIJING) German Chancellor Angela Merkel said yesterday that the euro had 'made Europe stronger', as she sought to reassure Beijing that the eurozone crisis is under control on the start of a three-day visit to China.

China economy headed for hard landing: analyst

Thu, 02 Feb 2012 20:00:00 GMT

(NEW YORK) China's economy is headed for a 'hard landing' this year as weaker demand overseas chokes off exports, said Gary Shilling, who correctly forecast the US recession that began in December 2007.

China boosts foreign capital investment quota in January

Wed, 01 Feb 2012 20:00:00 GMT

(SHANGHAI) China granted US$600 million in quotas to foreign institutional investors in January, nearly a third of the amount awarded in 2011, reflecting Beijing's desire to boost foreign participation in its capital markets as the pressure of hot money inflows eases.

HK plans second investment-linked debt sale

Wed, 01 Feb 2012 20:00:00 GMT

(HONGKONG) Hong Kong's second inflation-linked debt sale, announced by Financial Secretary John Tsang yesterday, will expand the range of investment alternatives that has damped demand for yuan bonds offshore.