China News Direct

 
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Bank of East Asia Opens One More Sub-branch in Shenzhen
(Dec 31, 2008) Bank of East Asia (China) (BEA China) has announced the opening of its Futian sub-branch under the Shenzhen branch in Shenzhen, Guangdong province. Being the 7th sub-branch operated by the bank's Shenzhen unit, the Futian sub-branch is the 8th service centre of the branch and it has operation and sales ...
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Agile Property Sold Properties to Subsidiary
(Dec 31, 2008) Agile Property Holdings Ltd. (Agile Property) has made two connected transactions with its wholly-owned subsidiary Zhongshan Yaxin Real Estate Development Co. Ltd. (Zhongshan Yaxin). The two parties have entered into transaction agreements involving two property projects in Zhongshan, Guangdong province. Agile Property will be selling its Zhongshan Bailecheng, a nine-storey ...
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Brilliance Auto Confident in Preferential Policies
(Dec 31, 2008) Chairman of Brilliance China Automotive Holdings Ltd. (Brilliance Auto) Wu Xiaoan expected to see more preferential policies, giving the automobile industry a vote of confidence. Wu pointed out that it is difficult for the company to keep a 20% annual growth as before, but it is still possible to see ...
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RMB4-tn Bailout Gives Bank Silver Lining
(Dec 30, 2008) China Merchants Bank Co., Ltd has seen a retreat in business in the third quarter of 2008 after the financial tsunami broke out in October, but the banking industry is not completely in a dim stage. Mainland Chinese media quoting China Merchants Bank governor Ma Weihua that the financial tsunami ...
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More Mortgagee Properties up for Sale
(Dec 30, 2008) A number of mortgagee-interest commercial properties, including some grade-A offices, are recently put on the market for sale after the financial tsunami. The financial tsunami and an anticipated worsening of the economy have pushed banks to take action. Banks' reluctance to lend also adds fuel to the situation. Among those ...
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Negative Equity Assets Topped HK$6bn
(Dec 30, 2008) The financial tsunami has sent property prices down sharply in a short period of time and many people were caught, leading to a rise in personal bankruptcy. Information from the Hong Kong Monetary Authority (HKMA) showed that personal bankruptcy increased along with a going-down economy. In November, there were 1,223 ...
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SMEs Urges 90% Loan Guarantee
(Dec 30, 2008) Small and medium enterprises (SMEs) call for a lowering of interest rate and giving interest rate subsidy in government-guaranteed loans. The Hong Kong government has launched a RMB100 billion SME loan-guarantee scheme that aims to bail out fund-starved SMEs, guaranteeing 70% of their borrowings. But banks offering SME loans are ...
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Hua Xia Bank Announces Management Reshuffling
(Dec 30, 2008) Hua Xia Bank announced a management reshuffling on December 30. The statement says that Wu Jian, president of Hua Xia Bank, will replace Zhai Hongxiang as chairman and Pan Dazhi, vice president of the bank, will be appointed as president, while Zhai will retire. The statement adds that the bank ...
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China Eastern Airlines Plans RMB7bn Share Placement
(Dec 30, 2008) China Eastern Airlines (CEA) announced on December 29 to increase its fund-raising scheme to RMB7 billion, from the original RMB3 billion plan two weeks ago. The carrier expressed that the new bailout package will take a much better effect than the original one and it could greatly ease the company's ...
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China Presents Long-term Investment Growth
(Dec 28, 2008) Construction Bank (Asia)'s head of equity research Su Guo-jian forecast that China would produce medium to long-term investment opportunities and that more institutional investors would shift their trust and LC businesses to mainland Chinese banks, giving confidence. Su believed the US economy would have mounting negative influence and it is ...
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