Small Lender Industry in Trial Phase
China is starting a trial to make it legal for as-yet-licensed money lenders to do business, state media reports. The first trial will start in Zhejiang province in September. The move to legalise money lenders is designed to assist small and medium-sized companies that find it difficult to obtain bank loans, the Shanghai Securities News reports. In 2007, revenues from unlicensed lending topped USD120 bn, according to a report by the China Banking Regulatory Commission.
No More Free Bags The ban
for giving away free ultra-thin shopping bags for supermarkets and
shops has now been extended to restaurants, bookstores, clothing shops
and building material stores, state media reports. Businesses are
required to charge customers a self-chosen price for each plastic bag.
Typically, supermarkets charge between RMB0.20 and RMB0.30. Failing to
do so could result in a fine of up to RMB10,000.
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