China’s Ministry of Industry and Information Technology (MIIT) said Thursday it would urge industrial enterprises to produce high-quality products as part of the effort to enhance the image of “made in China.”

The Ministry would also draw up a blacklist displaying the names of those firms breaching quality-related regulations, said Li Yizhong, Minister of the MIIT.

The MIIT would reward those companies that have good records for producing quality products with increased policy and funding support, and punish those with poor quality-control records, said Li at a forum held in Beijing which focused on how to improve the quality and reputation of Chinese industrial products.

The MIIT would also move forward on a campaign to allow enterprises to make promises on producing quality products, and work together with quality supervision authorities to incorporate the quality-based credit system of enterprises into the whole social credit system, Li said.

During the forum, 156 Chinese firms signed a written proposal “promising to make quality products for the world,” and called upon their peers in China to raise the quality of industrial products.

Learn Chinese, Learn mandarin, Learning Materials, Mandarin audio lessons, Chinese writing lessons, Chinese vocabulary lists, About Chinese characters, News in Chinese, Go to China, Travel to China, Study in China, Teach in China, Dictionaries, Learn Chinese Painting, Your name in Chinese, Chinese calligraphy, Chinese songs, Chinese proverbs, Chinese poetry, Chinese tattoo, HSK, HSK exam, Chinese Exam Preparation, China Business, China Travel, Mandarin Phrasebook, Chinese editor, Pinyin editor, China Travel, Travel to Beijing

Chinese equities were mixed Friday with the key Shanghai stock index slightly lower, as banking stocks and property developers fell on speculation the government will implement more tightening measures because of bad loans.

The benchmark Shanghai Composite Index dipped 0.38 points, or 0.01 percent, to close at 2,655.39. The Shenzhen Component Index inched up 1.94 points, or 0.02 percent, to end at 11,467.09.

Combined turnover expanded to 289.03 billion yuan (42.5 billion U.S. dollars) from 277.83 billion yuan the previous trading day.

Gainers outnumbered losers 476 to 393 in Shanghai and 648 to 382 in Shenzhen.

Banking shares declined after the China Securities Journal reported Friday the country’s four state-owned lenders reported an increase in special-mentioned loans, one level above non-performing loans, in the second quarter of the year.

In the second quarter of the year, special-mentioned loans increased 61.49 billion yuan from the previous quarter at the four lenders — the Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, and Bank of Communications — the newspaper reported, citing unnamed source.

China classifies loans of commercial banks into five levels according to their inherent risk — pass, special-mentioned, substandard, doubtful and loss. The substandard, doubtful and loss loans are categorized as non-performing loans.

Bank of Communications dropped 0.83 percent to 5.98 yuan while shares of Bank of China fell 0.59 percent to 3.35 yuan. China Citic Bank declined 1.06 percent to 5.62 yuan.

Property developer stocks also fell as investors worried about more tightening measures amid reports the National Bureau of Statistics will inspect housing vacancy rates in some cities.

China Vanke, the country’s largest listed property developer by market value, inched down 0.82 percent to 8.5 yuan. Poly Real Estate Group Co., the country’s second-largest developer, shed 0.51 percent to close at 11.77 yuan.

Learn Chinese, Learn mandarin, Learning Materials, Mandarin audio lessons, Chinese writing lessons, Chinese vocabulary lists, About Chinese characters, News in Chinese, Go to China, Travel to China, Study in China, Teach in China, Dictionaries, Learn Chinese Painting, Your name in Chinese, Chinese calligraphy, Chinese songs, Chinese proverbs, Chinese poetry, Chinese tattoo, HSK, HSK exam, Chinese Exam Preparation, China Business, China Travel, Mandarin Phrasebook, Chinese editor, Pinyin editor, China Travel, Travel to Beijing

A senior Chinese official Wednesday urged local governments to cooperate with the central government in supervision and inspection work.

He Guoqiang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks at a meeting on central inspection work.

Head of the country’s discipline and supervision work, He asked officials of local governments, especially those at the county level, to cooperate with central government’s inspection teams.

The CPC Central Commission for Discipline Inspection, the Ministry of Supervision and other central government agencies have sent inspection teams to more than 900 counties around the country since October 2007 when CPC’s 17th National Congress was held.

The official said the central government’s inspection work is very important for anti-corruption efforts at state-run enterprises.

He also pledged to send inspection teams to every state-run enterprise every five years.

Learn Chinese, Learn mandarin, Learning Materials, Mandarin audio lessons, Chinese writing lessons, Chinese vocabulary lists, About Chinese characters, News in Chinese, Go to China, Travel to China, Study in China, Teach in China, Dictionaries, Learn Chinese Painting, Your name in Chinese, Chinese calligraphy, Chinese songs, Chinese proverbs, Chinese poetry, Chinese tattoo, HSK, HSK exam, Chinese Exam Preparation, China Business, China Travel, Mandarin Phrasebook, Chinese editor, Pinyin editor, China Travel, Travel to Beijing