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China Development Bank enters financial leasing sector
(May 31, 2008) China Development Bank (CDB) has opened a financial leasing company in the city of Shenzhen in the Guangdong province in late May. The bank bought the Shenzhen Financial Leasing Company and injected RMB7 billion to restructure it with the permission of the China Banking Regulatory Commission (CBRC). The registered capital ...
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Shanghai International to buy real estate and infrastructure assets
(May 31, 2008) Hong Kong-listed conglomerate Shanghai Industrial Holdings has decided to boost its real estate, infrastructure and pharmaceutical business, says president Teng Yilong. The company wants to acquire quality assets from its mother company to develop core business. Market rumours state that the company would buy Four Seasons Hotel Shanghai and the ...
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Export-Import Bank '07 profit up, to issue floating-rate bond
(May 31, 2008) The Export-Import Bank of China (Ex-Im Bank), which recorded a growth in its 2007 earnings, will issue RMB10 billion worth of three-year floating-rate bonds in the interbank bond market. The benchmark interest rate will use the three-month Shanghai Interbank Offered Rate (Shibor). The subscription period will last from June 5 ...
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HSBC expects 60% of profit from emerging markets
(May 31, 2008) HSBC Holdings plc says emerging markets, such as China and India, will contribute 60% of its total business. Emerging markets are expected to occupy 60% of the total profit in the future. The group has also decided to invest in Chinese banks as well as launching banking, securities and insurance ...
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China releases new land statute to protect farmland
(May 30, 2008) To cut down on irregular occupation of land and especially farmland, the Chinese government has recently published a statute, "Methods for Punishing Violations of Regulations on Land Management", that replaces the "Provisional Methods for Punishing Violations of Regulations on Land Management" as of June 1. The document was recently issued ...
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Non-performing assets of Chinese banks said to grow in '08
(May 30, 2008) China Orient Asset Management Corporation (COAMC) says the scale of non-performing assets in the banking industry may grow in 2008. COAMC surveyed 209 commercial banks, asset management companies and intermediary companies about the 2008 scale of non-performing assets in the banking sector. Comparing the uncertainties in new non-performing assets in ...
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Hangzhou follows Dubai example in hospitality sector
(May 30, 2008) The city of Hangzhou in Zhejiang province will build an international appeal for itself to boost tourism by following the Dubai example. Wang Guoping, Secretary of Hangzhou Municipal Committee of the Communist Party of China, says the city has studied tourists needs in food and beverage, sightseeing, entertainment and shopping ...
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CBRC: Forex margin trades too risky, not encouraged
(May 30, 2008) China Banking Regulatory Commission (CBRC) urges Chinese banks not to offer foreign exchange margin trading services as the leverage is risky. CBRC head of banking innovation Li Fu'an says banks are not encouraged to offer forex margin trading services to customers although the services is highly profitable. CBRC has recently ...
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Citigroup: Redevelopment will raise China's CPI
(May 30, 2008) The US financial service giant Citigroup believes post-quake redevelopment will boost China's CPI in 2008 and 2009. Redevelopment investments for the relief of earthquake will prolong inflation pressure in China. The country's CPI can grow 7.4% this year and the 2009 CPI will rise 5.7%, up from 5.8% in 2008 ...
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Zhejiang's Haiyan targets coastal development
(May 30, 2008) Zhejiang province's Haiyan county unveals a coastal development strategy at a Hong Kong investment fair on May 29 and says coastal industry, port logistics, tourism, and property are the focuses. Wang says the coastal industry is an important part of the county's development and it will focus on advanced manufacturings, ...
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