China vows quality work in new investments
China's top economic planning agency announced today (November 24) that it will closely monitor the spending of the 100 billion yuan (14.7 billion U.S. dollars) stimulus package that will be spent on public facilities, transportation and rural construction. The central government has set up 24 supervision teams, which will be dispatched to local areas to ensure that projects with central investment are carried out immediately and properly.
Three-billion-yuan fund set up to help troubled SMEs
The China Association of Small and Medium Enterprises (CASME) has initiated a 3-billion-yuan (US$439.2 million) venture investment fund as a step to help the country's SMEs raise capital. The association announced on its website today (November 24) that the fund will be established by the end of this year.
(The Chairman of China Association of Small and Medium Enterprises (CASME), Li Zibin)
China shares end 3.67% lower on profit-taking
Chinese shares closed about 3.6% lower today (24th,Nov) after an expected lending rate cut didn't materialize over the weekend. The benchmark Shanghai Composite Index fell 3.67 percent, to 1,897 points. The Shenzhen Component Index dropped 3.65 percent, to 6,466 points.
6000 GZ Run for Charity
Over 6000 Guangzhou citizens participated in the charity event "Miracle of hope Run of Guangzhou" on Saturday (November 22) at Guangzhou's Luhu Golf & Country Club. This charity campaign, launched in Canada, donated in last year's session over 420,000 yuan to the Guangzhou Charity Hospital for medical research in preventing and treating cancer with traditional Chinese Medicine (TCM).
35 Portuguese Tourists Cycles Hailing Island 35 Portuguese tourists were seen last weekend cycling around Hailing Island, part of southern Guangdong's Yangjiang city. These travelers told journalists that, not being able to swim in the sea by such low temperatures, they had chosen a different way to explore the beauty of Hailing Island, a famous scenic spot in Guangdong.
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