HSBC (HBC.NY, 005.HK, HSBA.LON) opened a bank Thursday in Dazu, a county in western China’s Chongqing municipality, becoming the first wholly foreign-funded township bank in China, the Shanghai Securities News reported. The bank has US$5.83 million (RMB40 million) in registered capital and will mainly offer financial services for the local farming sect...

The Wall Street Journal leads its China coverage with an article on China’s increasingly complex inflation problem. Policymakers are worried because price rises have begun to spread from food, where they were previously concentrated, to other goods and services. Although headline inflation declined from its peak of 8.7% in February to 8.3% in March, th...