介绍:
China legalizes private lending in Wenzhou
Local authorities in the eastern Chinese city of Wenzhou are set to legalize private lending this weekend.
It will be the first such move on the Chinese mainland.
Under the new regulations, companies are allowed to borrow money through private financial institutions.
The move is part of the Chinese government's efforts to liberalize the country's financial sector.
A liquidity crunch in underground lending caused a credit crisis in Wenzhou back in 2011.
Corporate news round up
Anchor:
For a round up of this week's corporate news in China CRI's Paul James earlier spoke to Doug Young, associate professor at Fudan University and former China company news chief at Reuters.
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That was CRI's Paul James speaking to Doug Young, associate professor at Fudan University and former China company news chief at Reuters.
Japan prices continue to grow
Japan's Internal Affairs Ministry said on Friday that consumer prices for January rose 1.3 percent year on year.
This is the eighth straight month of consumer price growth for a country that has struggled with deflation for decades.
The core consumer price index, excluding fresh foods, stood at 100.4 against the 2010 base of 100.
The ministry said that contributors to the rise include heating oil, which rose 9.1 percent from a year earlier, and electricity, which climbed 8.5 percent.
It added that prices of overseas package tours jumped 14.4 percent mainly due to the yen's depreciation.
The core CPI for Tokyo's 23 wards in February, which indicates nationwide price moves down the road, increased 0.9 percent to 99. 1, marking the 10th consecutive monthly gain.
Japan Government forms Bitcoin probe group; Mt Gox scandal
Japan's Finance Minister says the government will try to increase its understanding of the virtual bitcoin market.
Taro Aso made the comment Friday, following the recent closing of Tokyo-based Mt. Gox bitcoin exchange and the turmoil that ensued as many depositers lost their money.
Aso says the government so far does not know whether theft was committed by the operators of the exchange.
Japan does not recognize bitcoin as currency, and therefore Mt. Gox's operations have been largely exempt from direct government supervision.
A special group researching the virtual currency has now been set up.
Reports have stated that an estimated 744,000 bitcoins (worth around 350 million U.S. dollars) may have been stolen over several years, affecting up to a million account holders.
Mt. Gox CEO Mark Karpeles has received a subpoena from federal prosecutors in New York.
Karpeles issued a statement however denying that he had fled from the scandal and confirming that he is still in Japan trying to fix the exchange's string of problems.
Societe Generale supports Chinese businesses in Algeria
The Algerian subsidiary of the French Societe Generale bank said Thursday it is ready to support Chinese companies operating in Algeria.
The announcement comes after a meeting initiated by SGA in coordination with the economic and commercial office of the Chinese embassy in Algeria.
The bank says it hopes to double the number of Chinese business accounts it handles in the region.
The trade volume between Algiers and Beijing continues to grow. It went from 800 million U.S. dollars in 2003 to 8 billion dollars in 2013.
China has been competing with France to be Algeria's largest trading partner.
Chinese tourists contribute nearly 100 million USD to New Zealand economy during New Years
China's Lunar New Year holiday this year contributed 117 million NZ dollars (98.14 million U.S. dollars) to the country's economy.
Some 35 thousand tourists arrived in New Zealand over the Chinese New Year holiday period, which this year ran from January 31st to February 14th.
The average Chinese traveler spent 3,400 NZ dollars ( 2,852 U.S. dollars) per visit, making a significant contribution to the country's economy.
Auckland Airport general manager Glenn Wedlock says that the figures call for New Zealand to fully embrace Chinese New Year to avoid losing out to growing competition for Chinese tourists in the future.
The China Southern Airlines announcement to increase flights on the Guangzhou-Auckland route from seven to 10 per week, coupled with its Chinese New Year charter flights and other charter flights by China Eastern Airlines, had helped boost tourist numbers.
Holiday arrivals from the Chinese mainland last month were up 73.3 percent, or 11,400, year on year.
