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POLITICAL

Proposal to Make Shenzhen a Municipality Directly Under Control of the Central G...

Gao Jingde, a member of Chinese People's Political Consultant Conference, has suggested making Shenzhen the fifth Chinese city that's directly under the control of the central government. Statistics released by the city show that the Shenzhen's GDP reached 951 billion yuan in 2010, exceeding those of other centrally-controlled municipalities like Tianjin and Chongqing.

People's Daily Online | 2011-03-04

BANK

Additional Reserve Ratio Hikes Predicted for this Month

China's central bank injected a net 103 billion yuan into the money market this week through its open market operations, the 16th consecutive week that the central bank has added liquidity to the money market. It now appears inevitable that the central bank will once again raise required reserve ratios of the country's large lenders this month. However, some analysts argue that even if policy make...

China Securities Journal | 2011-03-04

DEVELOPMENT

Chengdu-Chongqing to become Western China’s Economic Center

In the next five years, the State Council will develop and promote the Chengdu-Chongqing area as the economic center of western China and a base for modern industries. The council also approved in principle to readjust personal income tax and raise the taxation threshold.

West China City Daily | 2011-03-03

INTERNET

China Telecom to Increase Internet Speed Tenfold by 2015

According to a company insider, China Telecom is planning to build a fiber optic network in the next five years that covers over 100 million internet users, making it the world’s largest broadband service. The company also plans to increase internet speed tenfold from 2011 to 2015.

Southern Daily | 2011-03-03

SOCIETY

Social Subsidies System to Be Tethered to GDP Growth

Five ministries, including the National Development and Reform Commission (NDRC), Ministry of Civil Affairs, Ministry of Human Resources and Social Security, Ministry of finance and National Bureau of Statistics, have co-released a notice asking local governments to establish a social subsidy system that will be adjusted based on GDP growth rate.

National Business Daily | 2011-03-03

BANKING

President of Qilu Bank Dismissed for Forging Financial Bills

President, board chairman and chief commissioner of Qilu Bank located in Shangdong Province’s Jinan City have been suspended and will be held responsible for counterfeiting activities discovered last year. The China Banking Regulatory Commission is demanding that Qilu Bank penalize the guilty individuals in their internal proceedings.

The Beijing News | 2011-03-03

POPULATION

As Population Ages, Number of Chinese Students Declines

As of 2011, there will be a gradual decline in the number of students at every level. According to the Blue Paper Report released by the 21st century Education Research Institute, high schools will face a decreasing number of applicants in coming years.

The Beijing News | 2011-03-02