The detailed rules of the pilot financial reform scheme in Wenzhou, Zhejiang province, will soon be unveiled.
Twenty-nine large business owners ran away and one boss even committed suicide in Wenzhou, Zhejiang province, leaving thousands of employees jobless and colossal amount of debts unpaid.
In stark contrast to the rosy outlook for the Chinese economy, reports about the sudden disappearance of some business owners in Wenzhou has revealed a surprisingly gloomy picture for small and medium-sized enterprises (SMEs).
Nine company bosses in Wenzhou, Zhejiang province, ran away on Sept 22 without repaying the money they had borrowed. This is not only a warning against private borrowing and lending of money, but also raises a question on the Wenzhou development "model" , says an article in Guangzhou Daily.
The judicial bureau of Wenzhou in East China's Zhejiang province has apologized for a statement that told lawyers not to "unauthorizedly" handle cases involving last Saturday's deadly bullet train collision.
Individual investors in Wenzhou have realized that they should look at developing industries, such as renewable power, to seek better opportunities.
Higher returns from property, stocks and commodities lure factory owners, reports Yu Ran in Shanghai.
SHANGHAI - After spending one year at university in France, Li Da felt that he had learned and seen enough to make a life decision: turning down his father's offer to take over his business.
Squeezed by the appreciating yuan and rising wages, factory owners in Wenzhou of Zhejiang province are looking overseas to find higher returns for their fortunes amassed by exporting a range of consumer goods.
Residents in a Chinese city boasting of its entrepreneurship are allowed to invest overseas as individuals in a pilot scheme that authorities say will help manage the burgeoning capital flow in the private sector.
A move by the city of Wenzhou to allow individual investors to make direct overseas investment is the Chinese government's latest step to cool the surging inflation prevailing in the country and ease currency appreciation, experts say.
China's eastern city of Wenzhou will allow individuals to make direct investments overseas as the government encourages capital outflows to ease pressure on inflation and currency appreciation,Bloomberg reported Monday.
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