Heightened Chinese Inflation Pushes Renren.com To Offer Employee Loans

Chinese social networking website Renren.com has announced that it will launch an interest-free housing scheme, and employees can apply for loans of between CNY200,000 and CNY400,000.

Taobao Launches Online Public Welfare Channel

Chinese online auction website Taobao.com has formally launched a public welfare channel and a public welfare fund account.