“Advanced economies must pursue long-term policy reforms to reduce public debt levels over the coming decades and ensure future fiscal sustainability.”

The International Monetary Fund Wednesday has called on advanced economies to cut public debt to ensure fiscal sustainability, Xinhua reported.

“Advanced economies must pursue long-term policy reforms to reduce public debt levels over the coming decades and ensure future fiscal sustainability,” said three papers published by the IMF.

Ping An Insurance (Group0 Co., China’s second largest insurer, will merge its bank unit into Shenzhen Development Bank Co. in a deal valued at 29.1 billion yuan.

Ping An Insurance (Group) Co. of China Ltd. said Wednesday it had agreed to buy an additional 32 percent stake in Shenzhen Development Bank Co., for 29.1 billion yuan ($4.27 billion) in a private placement to control the national lender.

Far EasTone Telecommunications Co.,plans to buy a 55 percent stake in a Beijing-based information technology firm for 7 million U.S. dollars, marking the first investment in Chinese mainland.

Far EasTone Telecommunications Co., (4904.TW), the third-largest mobile phone
operator in Taiwan, said Tuesday it plans to buy a 55 percent stake in a
Beijing-based information technology firm for 7 million U.S. dollars, marking
the first investment in Chinese mainland.

The U.S. Federal Deposit Insurance Corp. said 829 of the county’s 7,800 banks were at risk of failure at the end of June, up from 775 at the end of the first three months of this year.

829 U.S banks are listed as at risk of failure by U.S Federal Deposit Insurance Corp. ending June, accounting for more than one-tenth of the total 7,800 banks.

The FDIC said the figure by the end of March this year was 775.

Agricultural Bank of China said its pre-tax profit generated by rural businesses rose 81.9 percent from a year earlier, driven by the expansion of business scales and incremental loan-to-deposit ratio.

Agricultural Bank of China, the country’s third largest lender by assets, said Monday its pre-tax profit generated by rural businesses rose 81.9 percent from a year earlier, driven by the expansion of business scales and incremental loan-to-deposit ratio.

Foxconn International Holdings Ltd. said its first-half loss widened to 143 million U.S. dollars in the first six months.

Foxconn International Holdings Ltd., the world’s biggest contract maker of mobile-phones, said Tuesday its first-half loss widened amid the difficult global handset environment in 2010.

The net loss was 143 million U.S. dollars, compared with the 18.7 million U.S. dollars a year earlier, Foxconn said in a statement filed to the Hong Kong Stock Exchange.

Huang Guangyu's conviction and 14-year jail prison term was upheld Monday and his wife Du Juan was freed on parole.

A Chinese court on Monday upheld a retailing tycoon’s conviction and 14-year prison term and freed on parole his wife Du Juan, also former head of Gome as the Huang’s family struggles to retain control of the appliance giant.

China should guard against inflation in the second half as concerns are mounting over the hikes of prices especially food prices, a government official said.

China should guard against inflation in the second half as concerns are mounting over the hikes of prices especially food prices, said Zhang Ping, Director of the National Development and Reform Commission, the country’s top economic planner.

Chinese government has approved the project of coal-fired power plant construction in Vietnam, the largest invested by Chinese companies in the country.

China’s top economic planner has officially approved a coal-fired power plant project in Vietnam with an overall investment of 1.75 billion U.S. dollars, China Southern Power Grid Corp. , the developer said in a statement on Friday.

Zhuhai Special Economic Zone, one of the five special economic zones in China, will be expanded to the whole city of Zhuhai on the southern coast of Guangdong Province.

Zhuhai Special Economic Zone, one of the five special economic zones in China, will be expanded to the whole city of Zhuhai on the southern coast of Guangdong Province, effective from October 1, Xinhuanet said on Thursday, the day that marks the 30th establishment anniversary of China’s first group of special economic zones.