Efforts on asset bubbles stressed
China’s central bank on Tuesday stressed efforts to curb asset bubbles, as it recognized the increasingly challenging task to seek a balance between stabilizing growth and preventing speculative froth. In its latest policy report, the People’s Bank of China highlighted the mission to control asset bubbles to guard against financial risks, while ensuring adequate liquidity to create conditions for advancing structural reforms. phased out coal-fired heating facilities in 75,000 households during the first 10 months of this year, reducing the city’s annual coal use by 225,000 metric tons, according to BeijingMunicipal Environmental Protection Bureau. Tuniu.com plans to invest in more tourist services, the company announced on Tuesday. Established in 2006, Tuniu has become the leading player in China’s online leisure travel market with stable profits, CEO Yu Dunde told a news conference celebrating the company’s 10th anniversary. Tuniu.com accounts for about 23 percent of the online leisure tourism market, a success that Yu attributed to strong branding, package tour choices and strong customer service. The newTuniu group will focus on flights, hotels, weddings and video entertainment while a subsidiary will deal with financial services.