News@ChinabyNumbers

Young migrant workers dies of bird flu in Beijing

A 19-year old migrant worker died from H5N1 bird flu in Beijing on Monday. Beijing health authorities confirmed the cause of death yesterday. Huang Yanqing, originally from Fujian province, had bought nine live ducks at a market in Hebei province and had them butchered on December 19. ...

Bank of America to sell China Construction Bank stake

Bank of America (BoA) plans to sell 13% of its stake in China Construction Bank (CCB), worth up to US$2.8 billion. BoA will sell 5.62 billion Hong Kong-listed shares in the Chinese lender for HK$3.92 (US$0.50), a 12% discount to CCB's closing share price on Tuesday. CCB's ...

Deutsche Bank’s China venture wins regulator approval

Deutsche Bank has received approval from the China Securities Regulatory Commission (CSRC) for a securities joint venture. Deutsche Bank will hold a 33.3% stake - the limit for foreign securities firms - in Zhong De Securities, with joint venture partner Shanxi Securities holding 66.7%. The venture will ...

GM’s ‘08 sales drop sharply in China

General Motors said sales of its passenger vehicles in China fell for the first time ever in 2008. Sales at Shanghai General Motors, the American manufacturer's Chinese joint venture, fell 7% in 2008 to 445,709 units, from 479,427 units a year earlier. Total sales, which include ...

China to boost real-estate market

A joint statement by the ministries of finance and housing, the central bank and the National Development and Reform Commission (NDRC) called for affordable housing for "ordinary people" and urged developers to reduce prices "The key to revitalizing the real-estate market is to set reasonable prices," the ...

China may issue 3G licenses today

China could grant licenses for third-generation (3G) mobile services as early as today, according to unidentified sources close to the telecom companies. Licenses have been delayed due to problems with the development of the home-grown TD-SCDMA 3G technology. The announcement of licenses may be announced simultaneously ...

China fixed-asset investment to decline in 2009

A government-run think tank said urban fixed-asset investment (FAI) may decelerate in 2009 despite heavy government spending. In a report published in the China Securities Journal, the State Information Center (SIC) said there was a risk investors would not follow the government's lead. Lower profits and poor ...

China finances face hard year

Falling revenues and a surge in spending mean that China's finances will face difficulties this year, according to comments from the Minister of Finance Xie Xuren. Speaking on Monday at an annual meeting on fiscal affairs in Beijing, Xie said, "It will be a difficult year. The ...

China shares jumped on government support plans

China shares rose on the first day of trading in the new year after government officials said additional steps would be taken to boost economic growth. The benchmark Shanghai Composite Index rose by 3.3% to close at 1880.72 points. Speaking to exporters over the weekend, Premier Wen ...

China faces unrest in 2009

A state-run magazine has said that China "without doubt" will face a wave of protests and riots in 2009 due in part to rising unemployment among university graduates and migrant workers. "In 2009, Chinese society may face even more conflicts and clashes that will test even more ...