Government Updates
China’s foreign reserve expansion slows
The spectacular growth in China’s foreign currency reserves appears to have ended, say economists, after the inflow of speculative “hot money” started to seep out of the economy in the fourth quarter of last year.
Read moreNew head of information department in China's Foreign Ministry
The new director of Chinese Foreign Ministry's information department has been named as Ma Zhaoxu, former director of the ministry's policy planning department.
Read moreState Council appoints new counselors, researchers
China's State Council, or Cabinet, appointed Friday nine new counselors and six new members of the Central Research Institute of Culture and History.
Read moreCorruption targeted for food safety
The country’s disciplinary inspectors were told Wednesday to pay particular attention to corruption involving food and drug safety that had the potential to seriously impact people’s lives.
Read moreSteel sector gets booster package
The State Council approved a stimulus package Wednesday to help the steel industry weather the international financial crisis.
Read moreAuto sector gets a shot in the arm
Sales tax on vehicles with engines of less than 1.6 liters will be halved and exchange of old vehicles for new ones with smaller engines subsidized to boost the auto industry.
Read moreChinese auto giant FAW reports record sales in '08
China's major automaker First Automobile Works (FAW) Group said Thursday its sales volume and revenue both reached record highs in 2008.
Read moreForeign banks may regret rush out of China
In the scramble to unload their stakes in Chinese banks, international lenders are hurrying out through a door that took years to pry open and may be shut more tightly on them in the future.
Read moreChina suspends fuel surcharges on domestic flights
China will suspend fuel surcharges on domestic flights from Jan. 15 due to fall in kerosene prices, China's top economic planner and the Civil Aviation Administration of China (CAAC)jointly announced Wednesday.
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