China’s US$2 billion sovereign bond ‘not for financing’
China’s planned US$2 billion first sovereign bond was not created for the purpose of financing but for covering government spending, say officials from the Finance Ministry, China News Service reported.
China launches probe into new energy vehicle industry
The Chinese government is investigating the new energy vehicle industry to see if there is overcapacity in the sector, said Song Qiuling, deputy director of the Economic Construction Department in the Finance Ministry, Yicai.com reported.
Le.com CEO to resign amid financial crisis
Liang Jun, CEO of Le.com, one of the largest online video companies in China and known legally as Leshi Internet Information and Technology Corporation, has handed in his resignation, Yicai.com reported, citing inside sources.