China News Direct

 
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ICBC Opens a Branch in NY, Shows Confidence
(Oct 17, 2008) The New York branch of Industrial and Commercial Bank of China (ICBC) opened business yesterday. This is the first time ICBC sets up a branch in the U.S. Jiang Jianqing, chairman of ICBC, said that ICBC chose this particular time to open the New York branch as it is confident ...
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Lee & Man Paper To Lower Debts
(Oct 17, 2008) Lee & Man Paper Manufacturing Ltd. has announced two plans to lower its debt levels. Lee & Man Paper will delay all of its investment projects and will sell the pulp and paper plant in the US for HK$200 million. Lee & Man Paper targets a gearing ratio of 75% ...
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Economists: China Can Buy Assets to Offset Inflation
(Oct 17, 2008) The U.S. uses of large amount of capital to rescue the market may bring inflation to the world in the future. Economists suggest China to buy U.S. stocks to offset inflation. Economist Xie Guozhong thinks that U.S. stocks have reached reasonable prices and China should buy U.S. stocks to offset ...
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HKTDC To Set Up Trade Office in Taipei
(Oct 17, 2008) Hong Kong Trade Development Council (HKTDC) has gained approval from Taiwan to set up an office in Taipei, being the first official trade organization of the Hong Kong government in Taiwan. Spokesperson of HKTDC said the Taipei office can help facilitate bilateral trade relations and promote Hong Kong's services industries: ...
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Central Government Plans New Supporting Policies
(Oct 17, 2008) The State Council is gathering information and researching various topics in an attempt to stimulate the economy which is expected to slow down in the second half of the year. The market believes properties and financials will be the two major sectors the government will give supporting policies. As the ...
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More SMEs May Close in Financial Tsunami
(Oct 17, 2008) The financial tsunami has spread to Hong Kong and the Pearl River Delta. The Smart Union Group (Holdings) Ltd. a Hong Kong-funded toy manufacturer, closed its Dongguan's toy factory down yesterday. Smart Union Group was used a top three toy manufacturer in the world. Legislator Leung Kwan-yuen, honorary president of ...
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Risk vs. Opportunities of Bottom-fishing in Overseas Market
(Oct 17, 2008) Various market experts suggested that Chinese enterprises could consider bottom-fishing or bargain-hunt in overseas market amid the current financial turmoil, only to mind the risks involved. Economist Shen Minggao said the current financial turmoil did provide Chinese enterprises with medium to long-term overseas investment opportunities. Some other experts suggested Chinese ...
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HSBC Trust Sees 5% Compound Growth Each year
(Oct 17, 2008) Traditional banks like HSBC has seen a sharp rise in trust services amid the global financial turmoil and especially after the bankruptcy of Lehman Brothers and the financial troubles of investment banks. HSBC's head of global transaction Andrew Long revealed that more trust funds, about US$1 billion, have flooded into ...
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Latin America Strong Growth Near Its End
(Oct 17, 2008) The global financial meltdown, a sharp drop in commodity prices and foreign investors' withdrawal of investment have all pushed Latin America into serious financial difficulties and the rapid economic growth witnessed in Latin America in the past five years is near an end. Latin American countries such as Brazil and ...
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Strong Reserve and Fiscal Surplus Make China Strong
(Oct 17, 2008) World Bank chief economist Justin Lin believes mainland China has three conditions that give it an upper hand in riding on the global financial tsunami. Lin said although the mainland Chinese market will be affected, China's huge foreign currency reserve, its controlled on the capital market and the Chinese government's ...
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