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Archive for February, 2014

Zhuhai Begins State-owned Assets Reform

(Updated: 2014-02-20) Gree Electric Appliances Inc, located in Zhuhai, Guangdong province, announced on 20th Feb that the State-owned assets supervision and admini stration commission of the Zhuhai government, which is the company’s controller, will transfer for free Gree Group’s 51.94% shareholding in Gree Real Estate as well as credito r’s rights to a newly-established company […]

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Pay in Yuan Allowed for Overseas E-commerce

(Updated: 2014-02-19) Domestic consumers will be able to pay in yuan when they shop on foreign e-commerce websites because China yesterday allowed third-party online payment platforms to handle cross-border settlement in yuan. Five payment companies, including ChinaPay and Orient Electronic Payment Co, signed agreements with five banks – the Industrial and Commercial Bank of China, […]

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China to Allow Private Investors to Establish Rural Commercial Banks

(Updated: 2014-02-06) China will allow private investors to establish rural commercial banks to inject more funds into the countryside and boost rural development, according to the China Banking Regulatory Commission (CBRC). Private investors have long been shareholders in rural commercial banks, but they have not been allowed to start them. The CBRC said China is […]

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