China is going to announce later this month incentives for buying vehicles powered by new energy, said Miao Yu, vice minister for industry and information technology. The nation's car production and sales both cracked the 13 million mark in 2009 overtaking the United States as the world's biggest auto market as well as raising concerns over air pollution, ca...

More than 40% of the Chinese consumers plan to increase spending in 2010, and an improved social welfare system is the strongest driver to prompt them to consume more, a MasterCard report has found. A survey of 6,300 urban and rural subjects shows that over 50% of the urban respondents chose "improve social welfare" and "rein in housing prices" as their top...

China's top four state-owned banks have loaned ¥110 billion ($1 = ¥6.83) in September compared to ¥165.8 billion a month ago, inter-bank data have shown. This was the lowest amount of monthly loans issued this year. Bank of China (SHA: 601988, HKG: 3988) became the smallest lender of the four from the biggest after extending just ¥3 bil...

Shanghai's residential price averaged ¥18,463 ($1 = ¥6.8) per m2 in August, up 47.9% from the ¥12,482 level seen six months earlier, the China Securities Journal reported, without citing where the statistics came from. The ¥5,981 increase is equivalent to the price per m2 in the downtown area of a major city in western China. Overall housing ...

China Mobile (NYSE: CHL, HKG: 0941), the world's biggest wireless phone carrier, on Monday launched its self-developed operating system for the OPhone to pit itself against China Unicom (NYSE: CHU, SHA: 600050, HKG: 0762) that sealed a multiyear iPhone deal with Apple over the weekend. The system is based on Linux and compatible with Google's Android. It is ...

China's consumer price index (CPI) decreased 1.8% year-on-year in July, with urban areas seeing a delcine of 1.9% and rural areas 1.6%, the National Bureau of Statistics said Tuesday. Food prices, which constitute 1/3 of the nation's CPI basket, contracted 1.9% from a year earlier. The producer price index, which gauges price changes received by producers fo...

A court of Qingzhen, Guizhou province in China's southwest, accepted the country's first lawsuit against a government agency over environmental issues brought by a charitable organization on July 28. The All-China Environment Federation sued Qingzhen's land and resources authority for granting a permit to Li Wanxian, the legal person for the construction of ...