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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
COMPANY NEWS back to previous page show list
»19/04/2010 [Other]
Chinese shares plummet nearly 5% over tightening moves

The Chinese stock market saw the biggest daily fall in eight months Monday, with Shanghai key index closing lower than 3,000.

 
(chinadaily.com.cn) The Chinese stock market saw the biggest daily fall in eight months Monday, with Shanghai key index closing lower than 3,000. Property and finance industry heavyweights led the losses, with investor sentiment bruised by news about the government\'s real estate tightening moves. Commercial banks will be able to refuse loans to people buying their third houses in areas suffering from soaring property prices, the State Council, China\'s Cabinet, said on Saturday. Before the move, the central government raised the required downpayment for a family purchasing a second house from the existing 40 percent to 50 percent, a policy that may not only restrict speculative house buying but also reduce banks\' potential risks if property prices decline. The central government measures target speculative house purchases, which are regarded as a key factor driving up property prices. The policies also show the government\'s resolve to curb excessive property growth and prevent growing financial risks, said Grant Ji, director of Savills (Beijing), a UK-based real estate service provider.

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