China grants US$13.4b QDII quotas to 15 banks in 2006

The State Administration of Foreign Exchange granted 15 banks overseas investment quotas totaling US$13.4 billion in 2006.

Central bank warns of increased pressure on price hikes

The central bank has warned that there is increased pressure on price hikes in the coming year.

China may let the mainland's commercial banks invest in Hong Kong-traded yuan derivatives and equity funds to boost returns.

Shanghai's benchmark stock index sprinted past the 3,000-point mark yesterday for the first time before closing just below the historic level.

China is likely to allow its first-tier brokers to issue covered warrants for heavyweight stocks in the middle of the year.

The required reserve ratio for financial institutes in deposit business will be raised by 0.5 percent from February 25 to 10 percent.

The benchmark Shanghai Composite Index, closed at a record high of 2,998.47 points on Friday, up 5.46 points over the previous close.

Zhang Yeguang, one of the executives in the bankrupt D'Long business empire, has been proved guilty of illegal fund raising.

The State Administration of Foreign Exchange (SAFE) has approved investment quotas for two qualified foreign institutional investors (QFIIs).

China will resume issuance of equity-investment funds late this month after a three-month hiatus.

China has approved a plan by the China National Petroleum Corporation (CNPC) to build a huge refinery in Guangxi in South China.

China Everbright Bank Ltd said profit rose 22 percent last year as it extended more loans and collected more fees from services.