China Investment Corp, the country’s US$300 million sovereign wealth fund, has asked the US to ease the scrutiny of Chinese government entities investing there. CIC chairman Lou Jiwei said the fund has recently finalized a deal to buy a minority stake in an American electricity firm and that the deal is subject to approval by four [...]
China’s State Council said it would actively support the creation of private sector companies to create more jobs and combat the country’s severe unemployment situation. According to a statement released by the State Council, efforts will be made to reduce the financial burdens on private and small companies as well as those in the service [...]
Liu Mingkang, chairman of the China Banking Regulatory Commission, stated that it would be “exceptionally arduous” for China to reach its growth target of 8% for 2009. In a separate news conference, People’s Bank of China Governor Zhou Xiaochuan also said there were risks to achieving the target. Premier Wen Jiabao said that the government [...]
The 2009 Central Economic Work Conference ended yesterday in Beijing with a plan to boost the economy by stimulating demand and job creation. Specific details of the plan have yet to emerge, but they are expected before the annual session of the National People’s Congress in March. The conference, chaired by President Hu Jintao and [...]
