介绍:
China moves to stabilize faltering economy
The central authorities here in China have announced a new set of supportive policies to try to stimulate broader economic growth.
The new measures include cutting taxes for micro and small-sized businesses, facilitating shanty-town renovations and speeding up railway construction.
The State Council decision comes amid growing hopes for a broad-based stimulus program to be unveiled following a string of economic indicators which have been suggesting first quarter growth here in China may have slipped below the annual target.
This year's growth target has been set at 7.5-percent.
The National Bureau of Statistics is due to release the GDP data for the first quarter on April 16th.
China's non-manufacturing PMI drops
New data shows the purchasing managers' index for China's non-manufacturing sector dropped 0.5 points in March from a month earlier to 54.5 percent.
The non-manufacturing PMI tracks activity in a number of sectors, including construction, software, aviation, railway transport and real estate.
Any PMI reading above 50 percent indicates expansion, while below 50 percent reflects contraction.
The decline in the March PMI follows a rebound in February, when the index came up from its lowest level in more than a year in January.
The sub-index for new export orders has surged by 3.4 points to 51.7 last month.
The index for the broader business outlook has risen 1.6 points to 61.5, which is being viewed as a sign of strengthening corporate confidence.
The employment index has risen 0.5 points to 51.4.
Non-performing loans worry China's banking sector
Anchor:
Full-year results released recently from China's major state-run banks have sparked a new round of concern about non-performing loans.
China's five largest banks, including the Agricultural Bank of China, the Bank of China, the Bank of Communications, the China Construction Bank and the Industrial and Commercial Bank of China, currently have some 370 billion yuan worth of NPL's on their books.
That is nearly 47 billion yuan more than a year ago.
Smaller banks, such as China CITIC Bank and China Everbright Bank, are facing an even more troubling situation.
CITIC has seen its NPL ratio surge over 60-percent this past year.
Everbright's bad loans have jumped more than 30-percent.
For more on the situation, CRI's Shane Bigham spoke earlier with Cao Can,CRI's Financial Commentator.
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That was Cao Can, CRI's Financial Commentator, speaking with The Beijing Hour's Shane Bigham.
Trial opens for trader against securities watchdog
The civil trial against China's securities watchdog has begun.
The China Securities Regulatory Commission is being sued by a former executive of Chinese brokerage firm Everbright Securities.
Yang Jianbo, former head of the strategic transaction department of Everbright Securities, is suing the CSRC after it fined and banned him for life from the securities and futures markets for insider trading last year.
He is petitioning the courts to overturn the CSRC's previous ruling against him.
An abnormal trading on August 16th of last year caused a nearly 6-percent gain in the Shanghai Composite Index in just 3-minutes.
This, after a large number of purchase orders were issued from Everbright Securities' own account.
The abnormal spike triggered a series of automatic trades, which then lost value after the Everbright purchase orders were rescinded.
Yang and the company both contend a computer error was to blame.
Despite this, securities regulators slapped the company with penalties totaling 523 million yuan for legal and regulatory violations.
Regional price differentiation is business norm: China Mobile
China Mobile is moving to defend its pricing structure, saying its normal for global companies to charge different prices in different regions.
The comments are in response to complaints that China Mobile's service in Hong Kong is much cheaper than on the mainland.
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