HSBC China opens new branch in Harbin
HSBC (China) Company Limited, a wholly-foreign-owned bank solely owned by the Hong Kong and Shanghai Banking Corporation Limited, opened a new branch in Harbin, capital of northeast Heilongjiang province on…
The central bank to cut banks’ reserve ratio by 0.5 percentage point
The People’s Bank of China, China’s central bank, has decided to reduce reserve requirement ratio by 0.5 percentage point, effective on May 18, 2012. This is the second cut of…
Hong Kong’s foreign reserve increased to $295.6 billion in April
The Hong Kong Monetary Authority (HKMA) announced Monday that the official foreign currency reserve assets of Hong Kong amounted to US$295.6 billion as at the end of April 2012 (end?March…
Central Bank restarted bill repurchase, reserve requirement ratio cut likely
China’s central bank has restarted bill repurchase to inject cash to banks, reversing normal practice for this to happen ahead of holidays, a shift which has underscored tight liquidity and…
China, Korea and Japan to increase investment in each others’ government bonds
The Asian finance Yalta was signed by China, South Korea and Japan Thursday in Manila. Beijing, Seoul and Tokyo want to increase their investment in each others’ government bonds to…
China UnionPay expands overseas emergency cash assistance service
China UnionPay (CUP) has extended its overseas emergency cash assistance service to 20 countries and regions, CUP said Wednesday. Holders of CUP bank cards will be able to access the…
ICBC pledges to boost off-shore RMB trade in Europe
The Industrial and Commercial Bank of China (ICBC) (London) plc said on Monday it would work on boosting off-shore trading of Chinese currency RMB, also known as yuan, here in…
China’s net foreign financial assets hit 1.77 trillion USD
China’s net foreign financial assets hit 1.77 trillion U.S. dollars as of the end of 2011, up from 1.68 trillion U.S. dollars one year earlier, the country’s top foreign exchange…
Picture News
Yunyang Hanjiang River Bridge opens in Shiyan, Hubei
Yunyang Hanjiang River Bridge opens in Shiyan, Hubei
May 15, 2012, the construction site of the Yunyang Hanjiang River Bridge (湖北十堰鄖陽漢江大橋) in Shiyan City, central China’s Hubei Province. Located in the Danjiangkou reservoir district, the 2,102-meter-long bridge, with total investment of 255 million RMB yuan (about 40.37 million U.S. dollars), will be open to traffic in late May. (Xinhua/Cao Zhonghong)
China’s aircraft carrier returns from sixth sea trial
China’s aircraft carrier returns from sixth sea trial
China’s aircraft carrier has returned to Dalian Harbor after 9 days of sea trial. It arrived on Tuesday.
China to impose fishing ban in South China Sea
China to impose fishing ban in South China Sea
A two-and-a half month fishing ban will start at noon Wednesday in most part of the South China Sea to rehabilitate marine resources, according to fishery authorities. The Hainan provincial marine and fishing department said all 8,994 locally-registered fishing vessels are all moored, affecting 35,611 people. A fisherman neatens his nets in Haikou, capital of [...]
2.91 million residents affected as torrential rains hit Hunan
2.91 million residents affected as torrential rains hit Hunan
Torrential rain that struck south China since May 11 has affected the daily lives of 2.91 million residents within Hunan as of Monday noon. Direct economic losses caused by the flood reached 2.88 billion yuan (456.2 million U.S. dollars), according to provincial flood control authorities. May 14, 2012, a house that has been torn down [...]
Chinese Navy Training Ship “Zheng He” ends its visit to India
Chinese Navy Training Ship “Zheng He” ends its visit to India
Chinese Navy Training Ship “Zheng He” (郑和训练舰) ended its visit to Kochi, India on May 13th and left for the Gulf of Aden at 10:00 local time. Kochi is the third leg of the “Zheng He” ship’s world sailing trip. According to the plan, two Navy trainees from South Korea and India ended their voyage [...]
Premier Wen Jiabao meets with Japanese PM Noda
Premier Wen Jiabao meets with Japanese PM Noda
Chinese Premier Wen Jiabao (R) shakes hands with Japanese Prime Minister Yoshihiko Noda before holding talks with him in Beijing, capital of China, May 13, 2012. (Xinhua/Li Xueren) Chinese Premier Wen Jiabao (2nd L) holds talks with Japanese Prime Minister Yoshihiko Noda (2nd R) in Beijing, capital of China, May 13, 2012. (Xinhua/Li Xueren)
Bridge collapsed after torrential rain in Hunan
Bridge collapsed after torrential rain in Hunan
A bridge located in Pingjiang County, northeast of Hunan Province suddenly collapsed on the morning of the 13th. Soldiers and men rushed to the scene of the incident and started the rescue work. The number of people walking on the bridge when it collapsed is unknown yet. There was heavy rain on May 12th, Pingjiang [...]
Lang Lang awarded Honorary doctorate of Manhattan School of Music
Lang Lang awarded Honorary doctorate of Manhattan School of Music
The largest U.S. private Music School, Manhattan School of Music, awarded honorary doctorate to Chinese pianist Lang Lang in 2012 graduation ceremony, in recognition of his outstanding contribution to arts, charity, education and other fields. The President of Manhattan School of Music Robert Sirota awarded the certificate to Lang Lang, as well as Hollywood actor [...]