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(Yicai Global) June 2 -- China's loans to small and micro-enterprises has risen 20 percent from the previous year to CNY10 trillion (USD1.4 trillion) by April, supporting more than 23 million such firms, Yi Gang, the president of the People's Bank of China, said at a conference.
The winning bid for this year's charity lunch with Warren Buffett rose to a record-high of USD4.6 million after five days of bidding, according to eBay.
China's new science and innovation tech board will open next month, an industry insider projected. The Shanghai Stock Exchange will start reviewing three companies' listing applications on June 5, it announced.
The Shanghai Composite Index advanced 1.6 percent to close at 2,889.70 points last week. The Shenzhen Component Index climbed 1.7 percent to 9,822.69 points. The ChiNext Price Index rose 2.8 percent to 1,486.66 points.
China cut taxes by CNY524.5 billion (USD76 billion) in the period from January to April. The tax and fee reductions benefited mostly the manufacturing industry. The personal income tax reform released CNY214.3 billion in liquidity to the financial system.
The Shenzhen Stock Exchange has inquired listed companies about 28 violations over the week. Most of them were about information disclosure and regulatory violations, and 14 percent were about stock trading, the bourse announced.
China's central bank opened a depository insurance fund management firm with a registered capital of CNY10 billion (USD1.4 billion) to compensate depositors if an insured company goes bankrupt.
China's total trade was worth USD424.4 billion in April, the nation's forex administration said in a statement. The value of imports was USD213.4 billion and that for exports was USD211.1 billion.
The profits of Chinese large manufacturing companies fell 3.4 percent from the previous year to CNY181.3 billion (USD26.3 billion) in April, according to official data.
Editor: Emmi Laine