China News Direct

 
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Beijing-Shanghai Railway Plans a Listing
(Jun 24, 2009) China's Ministry of Railway is planning to package the assets in Beijing-Shanghai Railway for a listing on the stock market, said Wu Wenhua, deputy director of Integrated Transport Department of National Development and Reform Commission. Wu said this plan involves assets of RMB300 billion and will become the biggest railway ...
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Shanghai Zhenhua Port Machinery Gets US$10bn Credit Line
(Jun 24, 2009) Shanghai Zhenhua Port Machinery Co.Ltd.(ZPMC) has obtained a credit line of US$10 billion from China Development Bank (CDB) for a term of five years. Zhenhua Port Machinery is the world's famous heavy equipment manufacturer. The two parties reached an agreement on June 23 where CDB will provide credit, financial consulting, ...
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Land Policy Would Not Spark Price Hikes in China
(Jun 24, 2009) China's Ministry of Land and Resources (MLR) said the average ratio between land price and housing price was 23.2% in China, lower than that in the US, UK and Japan. According to a survey by MLR, the ratio between land price and housing price is around 15-30% in China, lower ...
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China Will Clear Obstacles For Domestic Consumption
(Jun 24, 2009) China's Ministry of Commerce (MOC) said on June 23 that it is considering launching a number of measures to boost consumption. Yao Jian, spokesman of MOC, said yesterday that the electricity charges for retailing companies will need to decline further and MOC has a goal of gradually standardizing the price ...
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CBRC: M&A Loans Need Stronger Risk Management
(Jun 24, 2009) China Banking Regulatory Commission (CBRC) said on June 23 that merger and acquisition (M&A) loans should not experience explosive growth as it is a high-risk business. Cai Esheng, vice chairman of CBRC, said at a seminar yesterday that Chinese commercial banks have signed RMB13 billion of M&A loan contracts ended ...
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Guangzhou Wants More Payment Settlement Services
(Jun 23, 2009) Guangzhou city in Guangdong province plans to develop itself into a payment clearance and settlement center in southern China, said Chen Ping, deputy director of Guangzhou's financial work office. Chen said Guangzhou has a strong foundation for financial services development, reiterating that Guangzhou is Guangdong's credit management center, settlement center ...
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Hongfeng Machinery Plans an IPO
(Jun 23, 2009) Gansu Hongfeng Machinery Co. Ltd. (Hongfeng Machinery) strives to take lead in steam trap manufacturing in China. Hongfeng Machinery, located at Pingliang city in Gansu province, posted a 13.59% on-year increase in sales revenue in the first months of 2009, becoming a leading steam trap manufacturer in China. The company's ...
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China's Card Issuance And Overdue Loan Surged Sharply
(Jun 23, 2009) China's credit card issuance surged sharply in the first quarter of 2009, according to a report issued by People's Bank of China (PBOC) on June 22. China issued a total of 1.888 billion bank cards ended the first quarter of 2009, jumping 19% on-year. Debit card issuance rose 17.3% on-year ...
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China Promotes Fast And Quality Economic Growth
(Jun 23, 2009) The Chinese economy may embrace stable growth in the next two years when commodity prices rebound slightly and enterprise profits recover gradually, said Li Huiyong, chief macro-economy analyst of Shenyin and Wanguo Securities Co.,Ltd.(SYWG) in his latest report. Li said China's economic recovery is supported by its high percentage of ...
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Deloitte Opens in Chongqing, Expands To Western China
(Jun 23, 2009) Deloitte Touche Tohmatsu will set up its first branch in Yuzhong District of Chongqing Municipality, exploring the financial service market in west China. It is also Deloitte's 12th branch in mainland China. Lao Jianqing, Chairman of Deloitte China, said the company will provide tax and financial consulting services to Chongqing's ...
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