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Hang Seng Bank Sees Bleak Growth in '09
(Dec 23, 2008) Hang Seng Bank warned that Hong Kong is now in a recession and it has lowered the city's 2009 GDP forecast from 0% to -3%, noting a rebound in economy in the second half of 2010. The bank's senior economist Irina Fan said the Hong Kong government's stimulus packages, various ...
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Experts Sees More Stimulus Moves
(Dec 22, 2008) Some experts believed the Chinese government would introduce a new stimulus package in the near future to boost domestic consumption and provide lower-income groups with financial assistance. China International Capital Corp. (CICC) economist Xing Ziqiang predicted that the Chinese government would announce new policies to stimulate the economy in early ...
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Taiwanese Firms Welcome Preferential Policies
(Dec 22, 2008) The market generally welcomed mainland China's reaching consensus with Taiwan in economic and trade cooperations. The Chinese government has announced a series of measures to strengthen cooperation with Taiwan at the 4th Cross-Strait Economic Forum held in Shanghai, China. Representatives of Taiwanese enterprises joining the forum said they greatly welcomed ...
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Mainland Brings in More Policies to Promote Cross-strait Cooperation
(Dec 22, 2008) The Chinese government has introduced a series of measures to strengthen cross-strait cooperation, hoping to work hand-in-hand with Taiwan amid the global financial tsunami. Taiwanese enterprises in the mainland can now enjoy the same preferential policies on tax and credit as mainland enterprises do, and at the same time, they ...
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Guizhou Gives Interest Subsidies to Enterprises
(Dec 19, 2008) Officials from Economic and Trade Commission of Guizhou Province said recently that Guizhou industries had been experiencing sharp declines since the middle of September 2008 due to the financial crisis and the government's monetary policy. It is forecast that Guizhou's large scale industries had value-added of RMB103 billion in 2008. ...
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Hong Kong and Shanghai in RMB Race
(Dec 19, 2008) Both Hong Kong and Shanghai need to expedite the internationalization of Renminbi (RMB) before either one of them can be the leading RMB settlement centre. Hong Kong and Shanghai have their own competitiveness in being the international settlement centre of RMB. Hong Kong has high quality personnel, international currency settlement ...
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Property Mandatory 3rd Party Insurance Postponed
(Dec 19, 2008) The Hong Kong government has postponed the plan to require incorporated owners of buildings to take out mandatory third party insurance. The new law that requires buildings' incorporated owners to take out mandatory third party insurance will be delayed for two more years to January 1, 2011. The government worries ...
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Insurers Announced Double-digit Growth
(Dec 19, 2008) Ping An Insurance (Group) Co. of China Ltd. announced an over 28% growth in insurance premium for the first 11 months of 2008. Ping An Insurance had insurance premium of RMB117.75 billion in the first 11 months, up 28.51% on year. Life insurance premium had RMB92.09 billion, property and casualty ...
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Mortgage Rate Sure to Climb
(Dec 19, 2008) Mortgage rate may bounce back to a level above the Prime Rate (P) next year as banks continue to raise mortgage rates. Mortgage agency MReferral's chief economist Lau Yuen-yuen forecast that mortgage rate might climb back to the P level (about 5%) and even surpassed the P level in 2009 ...
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Taiwan's King Dragon Life Opens in Xiamen
(Dec 18, 2008) King Dragon Life Insurance Co. Ltd. (King Dragon), a cross-strait joint-venture, has announced opening in Xiamen, Fujian province. King Dragon is a joint-venture formed by Taiwan Life Insurance Co. and Xiamen C&D Corp., with each holding a 50% equity interest at a total investment of RMB2.4 billion. Speaking at the ...
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