The China Banking Regulatory Commission said it expected Chinese banks to extend loans totaling about 7.5 trillion renminbi ($1.1 trillion) — down nearly 22 percent from the record 9.6 trillion renminbi last year.
He earns about 3,000 renminbi a month for his family of three -- a nonworking wife and 14-year-old daughter.
He bought the instrument in 1980 from Wang Gengxin, a famous erhu maker in Shanghai, for about 200 renminbi, about $30 by today's exchange rate.
A meal for two is about 200 renminbi, or about $31 at 6.4 renminbi to the dollar.
So Mr. Cabo emptied his bank account of about 60,000 renminbi, or about $9,000, and began paying the bills.
But given the rate for a standard room (about 2,500 renminbi, or about $366, in the late summer), we thought the service and the food could have been better.
But for the right price — about 150,000 renminbi, or about $24,000, according to a staff member who spoke on the condition of anonymity to avoid retaliation — a Tsinghua professor can be persuaded to "sponsor" an applicant.
Among the largest private-sector Chinese companies those with annual revenues of about 10 billion renminbi ($1.4 billion)–revenues per employee rose from 226,000 renminbi in 2001 to 417,000 renminbi in 2006, almost matching the 420,000 renminbi of their foreign counterparts.
The report cited Nanjing news media claims that the allegations against Mr. Ji involve sums of about 20 million renminbi, or about $3.3 million.
A dollar currently buys about 6.25 renminbi, down from about 6.8 when Mr. Obama took office.
