Government Updates
China lost billions in diversity drive
China has lost tens of billions of dollars of its foreign exchange reserves through a poorly timed diversification into global equities just before world markets collapsed last year.
Capital account norms may be eased
China will continue to open up its financial sector this year despite the challenges in the international financial market, the nation's central bank said on Friday.
4 power stations with renewable energy planned
BEIJING -- China will construct two hydropower stations and two wind farms with a total capacity of 2,001 megawatts, a move to develop clean and renewable energy, the country's top economic planner has said.
Read moreChina details auto stimulus plan for rural residents
Chinese government has detailed a stimulus plan to encourage farmers to buy automobiles, which may bring an auto sales surge in rural areas, experts said Sunday.
Private airline suspends operation for financial problems
East Star, one of China's private airlines, was ordered to suspend flights as of Sunday because of prolonged financial and management problems, said the local government.
Nation urges more say in global finance
Four of the largest developing nations called for emerging economies to have a bigger say in the global financial system as G20 finance ministers vowed to combat the worst downturn since the 1930s.
Read moreChina uncovers 451,100 cases of economic violations in 2008
China's State Administration for Industry and Commerce (SAIC) said Sunday it had uncovered 451,100 cases of economic violations and crimes last year.
Read moreCRCC to build on new orders
China Railway Construction Corporation (CRCC) yesterday announced that its subsidiaries have won railway construction contracts worth as much as 28.12 billion yuan in China, less than one month after the company won a similar $1.77 billion contract in Saudi Arabia.
Read moreRenewable energy sector gets a big push
China will construct two hydropower stations and two wind farms with a total capacity of 2,001 megawatts in a bid to increase the share of renewable energy in the national energy matrix.
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