CHINA'S central bank said yesterday that it plans to implement a pilot program that would settle overseas trade with the Chinese currency instead of the US dollar. The People's Bank of China will expand financial...

THE wife of last year's richest man on China's mainland has been placed under police surveillance in Beijing for alleged involvement in business crimes, according to Caijing Magazine. Du Juan was reportedly...

CHINA Unicom (Hong Kong) Ltd, the country's second-biggest telco, said yesterday that the state-owned assets regulator approved the merger of its two biggest shareholders. China United Network Communications Group...

CHINA Mobile Ltd will receive a license to operate third-generation wireless services from the Chinese government today, Sina.com reported yesterday, citing people it didn't identify. It's unclear when other...

CHINA Guodian Corp, the nation's third-biggest power producer, started building a 4.5-billion-yuan (US$658 million) coal-fired plant in the southern Guangxi Zhuang Autonomous Region to help stimulate the economy. The...

GOOGLE Inc, owner of the world's most-used Internet search engine, won a lawsuit in China over its subsidiary's name and trademark in Chinese, ending an 18-month dispute with a local company. Google China will...

CHINA'S top coal producer Shenhua Group Corp has started operations at the nation's first coal-to-liquids project in the northern Inner Mongolia Autonomous Region. The Ordos-based plant became operational on...

GENERAL Motors Corp reported its sales in China rose 6 percent in 2008 from a year earlier, the slowest pace in five years as consumers tightened their wallets amid the financial crisis. GM sold a combined 1.09...

THE vacancy rate of Grade A office buildings in Shanghai tripled in 2008 from the year before and is expected to exceed 20 percent in 2009, one of the world's Big Five real estate service providers predicted yesterday. ...

PROFIT at Shanghai Pudong Development Bank Co more than doubled in 2008, boosted by higher interest income and lower taxes, the bank said yesterday. Earnings climbed to 12.5 billion yuan (US$1.8 billion), or 2.21...

SHANGHAI'S key stock index continued to rise, closing 3 percent higher yesterday and staying above 1,900 points with blue chips and the financial sector leading the gains. The benchmark Shanghai Composite Index...

NEARLY a quarter of companies listed on the Chinese mainland that have released preliminary reports have forecast losses for 2008. A total of 564 listed companies, accounting for about half of all companies listed...

DEUTSCHE Bank has won approval from the China Securities Regulatory Commission to set up a joint venture with Shanxi Securities Co to gain access to the country's securities market. The Shanxi securities house...

CREDIT Suisse Group AG, Switzerland's second-largest bank, has put more money into its Indian finance unit to help it lend to companies and fund purchases of shares in initial public offerings. The bank has invested...

INDUSTRIAL and Commercial Bank of China: As yet, no clear policy. Bank of China: Clients with fewer than three straight defaults or six defaults in total can apply for the discount on their first mortgage. China...

THERE is no easy way to enjoy the maximum mortgage discount of 30 percent as banks in Shanghai are setting up various requirements for existing mortgage owners to take up the offer. It has been more than two months...

LOGITECH International SA, the biggest maker of computer mice, withdrew its fiscal 2009 financial targets and said it will cut 15 percent of its non-manufacturing jobs because of the deepening global recession. Logitech...

HTC Corp, which makes cell phones including the Dopod brand, said yesterday that its sales won't be greatly effected by the global financial crisis and sales in China are expected to jump 50 percent year on year. ...

TESCO Plc, the United Kingdom's biggest supermarket chain, said it's cutting prices by 100 million pounds (US$146 million) after competitor Asda announced discounts on more than 1,000 products less than a week ago. ...

EUROPE'S inflation rate fell to the lowest in more than two years in December as oil prices plunged and consumer spending slumped, increasing the scope for the European Central Bank to reduce borrowing costs further. ...