System to deal with nuclear accidents
(China Daily)
Updated: 2006-07-03 11:01 New bank
China's banking regulator said last week it had approved the
establishment of the China Post Savings Bank, creating the nation's fifth
biggest lender by deposits from a reorganization of the post office.
The
government will split all financial businesses from the State Post Bureau within
six months, the China Banking Regulatory Commission said.
With 36,000
postal outlets nationwide, the Post Savings Bank will be a new rival for
Agricultural Bank of China, the weakest of the nation's four biggest State-owned
banks in terms of asset quality.
Textile industry
China's textile
exports are expected to increase by over 50 per cent by 2010 from last year,
according to the 11th Five-Year Plan (2006-10) for the industry, which was
revealed last week.
Textile and garment exports will reach US$180 billion
by 2010, according to the plan.
The National Development and Reform
Commission, China National Textile Industry Council and local government
agencies have jointly developed the plan over the past two years.
(For more biz stories, please visit Industry Updates)
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