China News Direct

 
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Shenzhen harvests the best financial year in 2007
(Dec 31, 2007) The Shenzhen financial industry has recorded its best results ever in 2007. The Shenzhen branch of the People's Bank of China (PBOC) says that both bank deposits and loans in Shenzhen exceed RMB1,000 billion in 2007. In 2007, outstanding local and foreign currency deposits in Shenzhen banks have reached RMB1,300 ...
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Industrial Bank Nanning branch opens
(Dec 31, 2007) Industrial Bank Co Ltd Nanning branch recently opens. It is the third regional bank entering Guangxi following Shanghai Pudong Development Bank and Huaxia Bank. Industrial Bank Nanning branch governor Guo Zheng Lin says the bank is keeping its eyes on the financial and economic cooperation status of Guangxi in China. ...
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Kerry Properties invests over RMB170mn in Changsha properties
(Dec 31, 2007) Kerry Properties Ltd will step up investment in the property market in Changsha, Hunan. Long Ping High Tech (LPHT), listed on Shenzhen Stock Exchange, unveils that it plans to sell 39% shares of Changsha Rongcheng property company to Kerry Properties (China). On December 20, Rongcheng Properties and Kerry signed a ...
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Guangzhou launches low-price housing
(Dec 29, 2007) The city of Guangzhou in Guangdong province starts the so-called affordable housing program on December 29, 2007. A total of 843 low-price residential units are put on the market and potential buyers must meet requirements attached, says Bureau of Land Resources and Housing Management of Guangzhou Municipality. The units are ...
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HSBC sees strong internal demand and inflation in 2008
(Dec 29, 2007) HSBC has revised the 2007 GDP growth of Hong Kong from 5.3% to 5.9% due to Hong Kong's strong internal consumption and inflationary pressure. HSBC Asia Pacific strategist and economic consultant George Leung has released a new economic forecast putting Hong Kong's economic growth at 5% for 2008. Hong Kong's ...
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BoCom opens finance leasing company in Shanghai
(Dec 29, 2007) China's Bank of Communications (BoCom) launches its wholly owned finance leasing company BoCom Finance Leasing Company in Shanghai on 28th December 2007 of a registered capital of RMB2 billion. The company has already signed cooperative agreements with enterprises on the first day of operation, one of the enterprises being China ...
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China Life Insurance targets at Southeast Asia
(Dec 29, 2007) China Life Insurance (Overseas) Co., Ltd. will develop business in Southeast Asia, says chairman Shi Guoqing. The company changed the registered address from Beijing to Shenzhen on December 28, 2007. The insurance industries of Hong Kong and Shenzhen will be able to have a closer cooperation. Shenzhen Municipal Government offers ...
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Compulsory energy saving gives HK HK$280mn back
(Dec 28, 2007) Compulsory energy saving in new buildings can save HK$280 million in total per year, according to the Environmental Bureau of Hong Kong. The bureau plans to enact new laws to require energy saving designs and facilities in all residential and commercial buildings from 2009. According to the plan, lighting facilities, ...
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Business in residential buildings resumes in Beijing
(Dec 28, 2007) Beijing Administration for Industry and Commerce (BAIC) has lifted a ban on companies running commercial operation in residential buildings according to a guidance effective on December 26, 2007. Beijing citizens no longer need to submit an application to the Beijing Municipal Construction Committee before running a business or engaging in ...
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China foreign investment grows again in 2007
(Dec 28, 2007) China's Ministry of Commerce (MOFCOM) reveals that the country has attracted more foreign investment in 2007 despite those from developed countries have dropped considerably. Wang Xinpei, Spokesman of MOFCOM, says that investment from Japan and the US have declined by 27% and 8% respectively in 2007 as compared with 2006. ...
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