lower its benchmark one-year lending rate by 25 basis points to 5.1 percent from Monday. The benchmark deposit rate will be cut by the same amount to 2.25 percent
Chinese consumers will continue to increase in wealth and complexity, and fears about the country's slowing economy are overblown, experts said.
The latest figure was better than the forecasts by multiple institutions that first-quarter growth would fall slightly below 7 percent due to weak investment and demand.
China's pension fund will come under tremendous pressure to break even in coming years and as such, the government needs to gradually raise the official retirement age to salvage the finances, a top official said on Tuesday.
The minimum monthly pay for full-time workers in Guangzhou, the provincial capital, will be raised by 22.2 percent to 1,895 yuan ($300), the highest of four levels in the province.
The index stood at 107 in the fourth quarter, down from 111 in the previous three-month period. It was the first decline in four quarters.
The announcement cuts reserve requirements - the amount of cash banks must hold back from lending - to 19.5 percent for big banks, a reduction of 50 basis points that would free up 600 billion yuan ($96 billion) or more held in reserve at Chinese banks -
Global renminbi payments increased in value by 20.3 percent in December, compared with a 14.9 percent rise for all currencies. Over the past two years, the renminbi has shown consistent triple-digit growth with an increase in the value of payments
The index, which dropped for a sixth consecutive year from the high level of 0.491 in 2008, was read by analysts as a positive signal amid the country's reform to cap the income of top executives of State-owned enterprises and pension reform
Pensions without worker contributions have become a huge burden on the government and are unsustainable. The dual system also hindered free flow of staff between private and public agencies. In addition, public outcry about the inequity has been mounting.
The sooner the default happens, the better it is for investors as it could improve the pricing of risky assets and help policymakers solve the high financing costs in the market
Any United States based company would be wise to consider investing into Vietnam as either a first step into Asia, or as a means of diversifying their Asian holdings
After the revision, China's GDP stood at 58.8019 trillion yuan ($9.61 trillion) for 2013, 1.92 trillion yuan more than previous estimate
Russia has become a sizeable trading partner of China, so this by itself will hurt China's exports. Other than that, the financial impact in China should be modest so far. Also, overall, the fall in the oil price is a net positive for China.
China's imports shrank unexpectedly in November while export growth slowed, fuelling concerns that the world's second-largest economy could be facing a sharper slowdown and adding pressure on policymakers to ramp up stimulus measures
The merger is not just about making a change, but is a big step in preventing unhealthy competition in overseas markets and aiding the further development of China's rail and relevant industries
"Economic declines are inevitable," he stressed, "the medium-speed economic 'new normal' is more efficient than any previous policy stimulus."
About 17 areas were involved in the negotiations between the two sides and have been detailed in 22 chapters, including trade remedies, customs clearance, investment transparency, communications and intellectual property rights.
Growth in real estate investment, which affects about 40 other industries in China, cooled to 12.4 percent in the first 10 months of 2014 from a year earlier, with property sales and new construction continuing to fall.
The new draft, which is posted on the NDRC website, decreases the number of restricted sectors from 79 to 35, including steel, ethylene, refining, papermaking, coal chemical equipment, automotive electronics, lifting appliances, electric transmission ect.
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