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55tuan.com has become the latest Chinese group-buying website to carry out staff layoffs and office closures as the once red-hot industry begins to cool, tech website Penn Olson reported.

Over the past few weeks, 55tuan has shuttered 35 offices across the country and laid-off workers in 10 major cities – Nanjing, Jinan, Qingdao, Chengdu, Harbin, Dalian, Shenzhen, Tianjin, Wuhan, and Chongqing.
CHINA'S consumer price index (CPI), a main gauge of inflation, eased slightly to 6.1 percent year-on-year in September from 6.2 percent in August, the National Bureau of Statistics (NBS) said today.

On a monthly basis, consumer prices rose 0.5 percent in September, said the NBS in a statement at its website.

In the first nine months of this year, China's CPI climbed 5.7 percent from the sam
SHANGHAI will hold the biggest matchmaking party in the city's history next month. More than 10,000 people are expected to participate free of charge, and their parents are also welcome.

Participants are required...
STRESSING his pride of having Chinese heritage, the United States Ambassador to China Gary Locke reiterated this morning the importance of a closer and stronger relationship between the world's two largest economies,...
BOTH companies at the center of a probe into lead poisoning of children in Shanghai claim to have won awards for environmental controls and worker health and safety, officials from the firms said yesterday.

One...
TORONTO-LISTED Chinese tree-plantation operator Sino-Forest Corp's chairman and chief executive officer, Allen Chan, resigned after a short-seller accused the timber company of fraud and the Ontario Securities Commission...
BRIGHT Food Group Co yesterday announced it will raise 1 billion yuan (US$156 million) through a short-term bond sale next week after it agreed to buy Australia-based Manassen Foods.

The Shanghai-based food conglomerate said in a statement that about 700 million yuan of the proceeds would be used for increasing the operating capital of its affiliate Shanghai Tangjiu Group Co and the rest will
CHINA'S top securities regulator may lower its threshold to allow more mainland firms to list in Hong Kong, a senior industry official said yesterday.

Yan Feng, vice president of Guotai Junan Securities, made the remark after Vice Premier Li Keqiang offered the biggest package of measures in more than eight years by the central government to support Hong Kong's economy, including allowing more


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