Chinese Business News : Chinese Business News

China central bank cuts interest rate
BEIJING, Oct. 9 (UPI) -- China's central bank, falling in line with central banks of major economies, has cut both the interest rate and the cash reserve ratio for its commercial banks.

Appliance tycoon named China's wealthiest
BEIJING, Oct. 7 (UPI) -- A 39-year-old appliance and property magnate estimated to be worth $6.3 billion was ranked the richest this year among China's top 1,000 wealthy people.

IBM, Volvo allow Chinese labor unions
BEIJING, Sept. 20 (UPI) -- U.S. computer giant IBM and Swedish automaker Volvo say they will allow state-sanctioned worker unions in their Chinese manufacturing operations.

GE to add 5 more regional centers in China
BEIJING, Sept. 16 (UPI) -- General Electric, encouraged by China's business potential, plans to add five regional centers to the two it has in Shanghai and Beijing.

China's central bank cuts key lending rate
BEIJING, Sept. 15 (UPI) -- China's central bank dropped its key lending rate by 0.27 percent to 7.2 percent, a surprise move that underscores the global financial crisis, analysts said.

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