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MOC Decouples Yuan Value with Trade Surplus
(Mar 17, 2010) China should not be blamed for a trade surplus and she equally opposes politicizing commercial issues including the yuan exchange rate, said Ministry of Commerce spokesperson Yao Jian. On Monday, 130 law makers in the U.S. sent a co-signed letter to U.S. Treasury Secretary Timothy Geithner and Commerce Secretary Gary ...
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Changsha Holds Bank-SME Business Matching Fair
(Mar 16, 2010) Changsha city in Hunan is going to launch a series of bank-business matching activities that draw an estimated RMB5 billion of loans to SMEs. In March, Changsha city will give out SME development funds of RMB20 million to sponsor SME financing and to reward banks for financial innovation. In a ...
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AUO To Raise Funds for its Panel Plant in Kunshan
(Mar 16, 2010) AU Optronics Corp. (AUO) of Taiwan plans to invest US$3 billion in building a 7.5G panel plant in Kunshan, east China's Jiangsu province to provide more favourable services for its mainland Chinese customers. In AUO's plan, the US$3 billion of capital needed will be financed by equity investment of US$1.2 ...
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China Steps up Cross-border Fund Flow in Good Economic Time
(Mar 16, 2010) China will step up the momentum of reform and supervision on capital accounts on one hand and crack down on abnormal fund flows on the other, the two top tasks for State Administration of Foreign Exchange (SAFE) this year. SAFE notes that China will continue to steadily promote its capital ...
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Ningxia's Yinchuan Splashes RMB22bn on Trade Promotion
(Mar 16, 2010) Yinchuan City, Ningxia Autonomous Region, will spend RMB22.1 billion on 130 trade-supporting projects this year. Since 2009, Yinchuan City has carried out major projects to build a regional logistics distribution center, attract commercial enterprise investment, enhance market formation and livelihood. It has received over RMB70 million of supporting funds. The ...
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Shenzhen Adds Payment Ability To Mobile Phones
(Mar 16, 2010) A growing and wide application of mobile e-commerce has been getting into people's daily lives in Shenzhen, Guangdong, offering people payment convenience in services including transportation, shopping and public utility. China Mobile Shenzhen Branch will launch a trial operation of mobile Shenzhen Tong services, enabling customers to use their own ...
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Bank of Inner Mongolia and Partners Form Rural Bank in Shenzhen
(Mar 16, 2010) Shenzhen's first village bank with a registered capital of RMB200 million will start operation in Longgang district this May. The village bank is jointly set up by Bank of Inner Mongolia and five local enterprises in the investment, credit guarantee and manufacturing industries in Shenzhen. The bank will provide financial ...
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Shanghai, Beijing up on the Living Cost Ladder
(Mar 16, 2010) Shanghai ranked the world's 40th most costly city to live, and Beijing the 57th, in 2009, a survey on 132 cities by British magazine 'The Economist' shows. In 2008, Shanghai was placed 45th and over-took Moscow last year. Beijing ascended one place. Xu Fengxian, an economics professor at Chinese Academy ...
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DBS Bank Expands SME Banking Market Share
(Mar 16, 2010) DBS Bank (Hong Kong) plans to boost SME banking services now that the economy has recovered and robust demand for credit is seen. Alex Cheung, managing director of corporate and institutional banking of DBS Bank (Hong Kong), notes that the bank will set up more SME banking centres at more ...
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Temasek Teams up with BOC in Making Rural Banks
(Mar 16, 2010) Bank of China (BOC) and Temasek Holdings plan to invest RMB20 billion to set up as many as 400 village banks in mainland China. Bank of China will own a controlling stake in the joint venture while Temasek Holdings may hold more than 20% of the stake, giving its status ...
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