Launch of e-dictionary aids learners
A NEW tool for language learners became available as of yesterday with the launch of a new website, HungryForWords.com, which provides digital flashcards.
Pact to help China Shipping prosper
THE China Shipping Company (CSC), one of the nation's three major con-tainer carriers, on Sunday signed an agreement with France's CMA CGM which will see 50 new container ships put into use on a container line jointly operated by the two shipping giants.
Foreign firms key to e-business
CHINA's Internet-related business start-ups should better utilize the financial aid provided by foreign venture capital, a recent conference on Internet financing was told.
'No growth' forecast for cargo market
INSIDERS predict the composite freight index for China's shipping market will not rise in the upcoming after-the-festival slack season.
Exhibition business faring well
EXHIBITIONS will provide fresh impetus for the growth of bilateral trade and economic development between China and Germany, a senior German trade fair official said.
Show scheduled to boost boat industry
A STATE-supported group is seeking ways to develop China's boat industry.
ICM confident in the China market By Song Ning THINNING hair caused by
Shanghai's drinking water and an apartment that is never free from
TV advertising to play bigger role
AN authoritative analysis released recently said the global advertising outlay would show a 6.5 per cent surge on a year-on-year basis in 2000, but warned continuous inflation in the global market could devalue the increase to some extend if growth slowed.
Housing fair planned for April
A housing fair featuring properties at the top end of the market - Rexpo Shanghai ‘2000 - is to be staged at Shanghai International Convention Centre (SHICC) in early April.
CCB kicks off salary reform
By Huo Yongzhe
PERFORMANCE-related salaries and comprehensive reform of auditing procedures applied to the bank loans approval system are among policy focuses for the China Construction Bank (CCB) for the new year. The reforms were announced by Ning Liming, president of the bank's Shanghai branch at the bank's annual working conference last week. China's entry to the World Trade Organization (WTO), on track for this year, is prompting domestic banks to improve their services. Under the agreement inked between China and the United States late last year, foreign financial institutions will be authorized free access to China's banking market five years after the country's accession to WTO, which is already putting the heat on domestic financial institutions. In the hope of providing staff of the CCB with greater incentive, salary and benefits are soon to be linked to performance. "Irrespective of rankings within the company, all wage levels, wel-fare and housing premiums will be made commensurate with how staff perform at their posts; and those who are not pulling their weight will find themselves out of a job," said Ning. This represents a major shift in policy in the banking sector. High- and middle-ranking employees, traditionally regarded as government officials, have enjoyed posts for life and been virtually untouchable. But Ning stressed that the bank would also be providing greater encouragement for its younger members of staff. According to Ning, loans will soon be subject to a highly-efficient auditing system conforming to international standards. He emphasized the necessity of the role such a mechanism would perform in preventing bad loans and non-performing assets, and reducing the financial risk that has enslaved the Chinese financial sector for decades. "Meanwhile, we will continue to expand provision of loans that conform to market demand," said Ning. The bank prides itself in having delivered the lion's share of the housing loans issued to the local market. Statistics from the bank indicate the branch has delivered over 10.2 billion yuan ($ 1.23 billion) in individual housing loans to Shanghai citizens, making it the first provincial branch to issue housing loans amounting to more than 10 billion yuan ($1.2 billion) in one year. Ning said the Shanghai branch of the bank has set aside a further 10 billion yuan ($1.2 billion) to be used for housing loans for Shanghai residents in 2000.
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