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Big Four Did RMB10bn Business in China, PwC on Top
(May 12, 2009) The four biggest accounting firms reaped total incomes of RMB10.39 billion in China last year, with PricewaterhouseCoopers (PwC) on top. The Chinese Institute of Certified Public Accountants (CICPA) announces that in 2008, the big four - PwC, Ernst & Young, Deloitte Touche Tohmatsu and KPMG China - did business of ...
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New Loan Slows To RMB400-500bn a Month
(May 12, 2009) China's newly added Renminbi (RMB) credit fell back to RMB591.8 billion in April and the total credit issuance topped RMB5.17 trillion in the first four months of 2009, higher than the central government's target of RMB5 trillion, said China's central bank. Morgan Stanley's chief China economist Wang Qing forecasts that ...
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Beijing's Commodity Housing Transaction Slowed in '08
(May 12, 2009) In 2008, Beijing's commodity housing vacancy rate topped 16.64%, the highest among cities in China, said in a report given by E-house China, a Shanghai-based real estate agency. The commodity housing vacancy rate was 0.75 times higher than the average level of China in 2008 and higher than Beijing's average ...
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Chongqing Sourcing Fair Expects RMB110bn Transaction
(May 12, 2009) The 12th China Chongqing International Investment and Global Sourcing Fair will start on May 13 in Chongqing's International Convention & Exhibition Center. Li Jianchun, chief director of Chongqing Foreign Trade & Economic Relations Commission, said the sourcing list submitted by purchasers of the fair totaled US$7.5 billion and it mainly ...
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Ping An Insurance Seeks Growth from Bank and Life Businesses
(May 12, 2009) Ping An Insurance (Group) Co. is confident in a 10% rise in life insurance premium income in 2009. The second largest insurance company of China said its insurance premium surged 37.5% on-year to RMB62.622 billion in the first four months of this year and that of life insurance premium rose ...
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Shanghai Stock Exchange Opens To Foreign Companies
(May 12, 2009) The Shanghai municipal government will actively support the establishment of an international board on Shanghai Stock Exchange (SSE) as a part of effort to build the city into an international financial center. The Shanghai government issued a plan on May 11, elaborating the development of the international financial and shipping ...
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Hang Lung Properties Confirms RMB40bn Investment in China
(May 12, 2009) Hang Lung Properties Ltd. has outlined an investment plan of RMB40 billion in China and so far, it has already confirmed investment of RMB25 billion into six projects in mainland cities. Hang Lung Property executive director Terry Ng revealed that the company had put actual investment of RMB10 billion into ...
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Foreign Enterprises Exported Half of China's Flat Glass
(May 11, 2009) Foreign enterprises exported half of all flat glass made in China through general trade. In the first quarter of 2009, foreign-invested enterprises exported 22.44 million sq. meters of flat glass, a drop of 29.1% on-year and accounting for 48.5% of China's total export of flat glass during the period. The ...
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Over 3,500 New Companies Formed in Shenzhen, Broker Record
(May 11, 2009) The number of newly registered companies in Shenzhen grew to a record high in April, signaling a revival of investment enthusiasm. The number of newly registered companies in Shenzhen rose 2.1% on-month to 3,561 companies last month, with a total registered capital of RMB3.9 billion, up 17% on-month, according to ...
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Chinese Banks Assume More Social Responsibilities
(May 11, 2009) China Banking Association (CBA) issued the first social responsibility report on the Chinese banking industry. The report issued on May 10 says that Chinese banking institutions made RMB1.01 billion of charity donations in 2008. Besides giving figures, the report said Chinese banks can fulfill their corporate social responsibilities (CSR) through ...
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