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List Shows More Female Billionaires in 2013

Based on a list released by the Hurun Research Institute in Shanghai, 32 year old Yang Huiyan became the richest woman in China for 2013 amassing a fortune of more than 50 billion yuan. The report also showed that half of the world’s richest female entrepreneurs are from China. The Shanghai based magazine said that [...]

Sep 23 2013, 9:37 am | Posted in Finance | Read More »

China’s Biggest Internet Company Applies for Banking License

One of China’s biggest Internet companies Tencent Holdings have applied for a private banking license. A spokesperson for the China Banking Regulatory Commission confirmed the application. The person refused to be identified since he was not authorized to speak on the matter, while officials of the regulatory commission and Tencent have not given any comments [...]

Sep 16 2013, 10:45 am | Posted in Finance | Read More »

Chinese Premier Assures that Country can Reach Economic Growth

Despite the complex economic situation that is happening across the globe, Premier Li Keqiang assured that the Chinese economy health will reach its set goal of 7.5 percent growth this year. Li gave this statement at the opening ceremony of the three day Summer Davos in Dalian, citing the signs of a growing stabilization in [...]

Sep 12 2013, 9:28 am | Posted in Finance | Read More »

China Looks to Transform Its Financial Sector

China’s State Council issued the “Guiding Opinions on Financial Support for Adjusting, Transitioning and Upgrading of the Economic Structure (guobanfa [2013] No.67, hereinafter referred to as ‘Opinions’)” on July 5, which reiterate that the government will maintain a prudent monetary policy and a reasonable money and credit supply to support economic restructuring. Detailed information can be [...]

Jul 24 2013, 1:06 pm | Posted in Finance | Read More »

China’s Banking Crisis Coming to an End?

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China’s cash liquidity crisis has caused concern in the country after initially starting off in May and culminating with the overnight Shanghai Interbank Offered Rate (SHIBOR) reaching a historic high of 13.44 percent and transaction rates spiking to 30 percent on June 20. According to the People’s Bank of China (PBOC) – China’s central bank [...]

Jul 4 2013, 8:55 am | Posted in Finance | Read More »

Shanghai Hikes Minimum Wage Levels, Takes Nation’s Top Spot from Shenzhen

Shanghai Hikes Minimum Wage Levels, Takes Nation’s Top Spot from Shenzhen

Shanghai’s Human Resource and Social Security Bureau released the “Notice on Adjusting Minimum Wage Levels in Shanghai (hurenshezongfa [2013] No.16, hereinafter referred to as ‘Notice’)” on March 29, which raises minimum wage levels in the city from April 1, 2013. Detailed information can be found below. According to the Notice, the monthly minimum wage in [...]

Apr 4 2013, 8:21 am | Posted in Featured,Finance | Read More »

Shenzhen Raises Minimum Wage Levels

Shenzhen Raises Minimum Wage Levels

Shenzhen has raised its monthly minimum wage levels by RMB100 to RMB1,600 from March 1, 2013, while its hourly minimum wages have been adjusted from RMB13.3 to RMB14.5. This news comes after Guangdong Province recently announced wage hikes of nearly 20 percent that would have seen Guangzhou overtake Shenzhen as the city with the highest [...]

Mar 15 2013, 8:13 am | Posted in Featured,Finance | Read More »

Office Staff Prepares for First Day of Work on Lunar New Year

Office Staff Prepares for First Day of Work on Lunar New Year

The seventh day of the Lunar New Year in Dongguan still remains adorned with red lanterns, floral arrangements and cheerful crowds, but for most people this is also the first day of going back to work. By 9 am banks and government departments in downtown Dongguan and less central areas had staff prepared for their [...]

Feb 20 2013, 8:02 am | Posted in Finance | Read More »

Provincial Government Releases a Document Addressing Concerns on Wage Increase

Provincial Government Releases a Document Addressing Concerns on Wage Increase

The Guangdong Provincial Government has released a document addressing the concerns for the minimum wages in Dongguan. The document states that as of May 1st of 2013 the minimum wage will increase from the existing 1,100 RMB a month to 1,310 RMB a month. Recently most cities across Guangdong have increased its minimum wages, except [...]

Feb 15 2013, 8:55 am | Posted in Finance | Read More »

Gas Prices Set to Increase in September

Gas Prices Set to Increase in September

The government is now planning to raise gasoline and diesel prices next month as price for crude oil has risen. Based on the 22 day moving price average of Brent, Dubai and Cinta was at 4.25 percent higher than the level when China last raised it prices. the increase is set to be done mid [...]

Aug 23 2012, 11:04 am | Posted in Finance | Read More »

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