China Economic Review - Alpha en copyright 2015 Credit reporting industry still without standards as firms prep for licensing <p>Rules and regulations for personal credit reporting remain incomplete even as selected firms begin preparing related operations as part of government plans to open the market to the private sector, <a href="" target="_blank"><em>South China Morning Post</em></a> reported. Thu, 01 Jan 1970 08:00:00 CST Developers' offshore bond sales few and far between amid default fears <p>The flow of offshore bond sales by property developers from mainland China has dried up as investors sweat the ramifications of debt defaults, <a href="" target="_blank"><em>South China Morning Post</em></a> reported. With an estimated US$10 billion in offshore debt falling due for repayment this year and next, a bad January bodes ill for the ability of developers to refinance huge foreign borrowings. Thu, 01 Jan 1970 08:00:00 CST Shanghai abandons growth target in 2015 <p>Shanghai Mayor Yang Xiong announced on Sunday that the municipality would abolish its annual economic growth target, <a href="" target="_blank">Reuters</a> reported, citing state media. The city government had not provided a target for growth in an annual report but said Shanghai would maintain a steady expansion and aim for greater efficiency. Thu, 01 Jan 1970 08:00:00 CST Audi to recall 35,000 cars in China due to fuel injection problems <p>35,000 of the 80,000 cars to be recalled by the Audi luxury division of German automaker Volkswagen (VLKAY.OTCMKTS) will come from China, <a href="" target="_blank">Bloomberg</a> reported, citing an e-mailed statement from the company. Audi said that due to issues with the fuel injection system,&nbsp;"in rare cases customers may notice a smell of fuel in affected vehicles" made between April 2011 and April 2012. Thu, 01 Jan 1970 08:00:00 CST Recreational drug use an $82 billion business in China <p>Recreational drug use has grown to an US$82 billion annual domestic business in China&nbsp;despite intensified crackdowns with arrests in the tens of thousands and narcotics seizures tallied in metric tons, <a href="" target="_blank"><em>The New York Times</em></a> reported, citing officially reported figures and independent studies. Thu, 01 Jan 1970 08:00:00 CST