Nanjing Automobile Group has set up a 1.8 billion yuan (226 million US dollars) unit to oversee the development of its own-brand cars based on technology bought from failed British car maker MG Rover, Reuters reported.

Neo-China Group, a Hong Kong-listed property firm operating in the Mainland, said its net profit dived 41 percent last year as cost of sales more than doubled.

Northwest Airlines, an American airline with extensive global network, has filed a request with the U.S. Department of Transportation for new authority to expand its service to China by establishing a new route to Shanghai, said the company in a statement.

National Basketball Association (NBA) wants to double the National Basketball Association's Chinese operations over the next two years, The Associated Press reported, citing commissioner David Stern.

New World China Land, a unit of New World Development, will invest more than 3 billion yuan to build a commercial and residential project in Changsha, the capital of Hunan province.

The recent regulations over infomercials help raise the standards for home shopping, the Economic Information Daily reported.

The Ministry of Construction and Ministry of Land and Resources have announced new measures to tighten control over the supply of real estate, transactions, land supply, and property security, the Shanghai Securities Journal reported.

New regulations require foreign insurers need to have 20 years of track record in the sector in order to gain access to the Chinese market, People’s Daily reported.

The lower birth rate means there is a potential shortage of labour. Economic policy should have a new focus of raising labour productivity, Xinhua reported.   

1rest.com, a new online platform that links budget and economy hotels with customers, is successfully launched, said the company in a statement.