China News Direct

 
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Inflation to hit ten-year high of 4.5%
(Feb 28, 2008) The Hong Kong government forecasts economic growth for the 08/09 year will slow down. Local GDP growth will decline from 6.3% in 07/08 to 4-5% in 08/09. Besides, it foresees a trend of price hike will stay in the next 5 years with inflation hitting a 10-year high of 4.5% ...
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JP Morgan Chase to underwrite treasury bond in China
(Feb 28, 2008) US investment bank JP Morgan Chase receives approvals from the China Banking Regulatory Commission in February to underwrite Chinese treasury bonds. The bank signs an underwriting agreement with the Ministry of Finance on February 27. It is the first US bank to obtain a permission to underwrite treasury bond in ...
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HKGCC: The Budget helps enhance HK competence
(Feb 28, 2008) The Hong Kong General Chamber of Commerce (HKGCC) thinks the 2008-09 Budget has provided solutions to some economic problems and social issues. Andrew Brandler, Acting Chairman of HKGCC, welcomes the government's move to lower corporate profit tax rate to 16.5% and believes this can enhance Hong Kong's competence. Moreover, HKGCC ...
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Citic Ka Wah sees a slowdown in China's housing market
(Feb 28, 2008) Citic Ka Wah Bank vice president and chief economist of China banking Liao Qun believes China's real estate market would slow down in 2008. A drop in transaction will inevitably lead to changes in housing prices in 2008. Housing prices in Shenzhen city and Guangzhou city of Guangdong province will ...
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SMEs benefit from profits tax cut
(Feb 28, 2008) Many small and medium enterprises (SMEs) are happy to see a corporate profit tax cut of 75% with a ceiling of HK$25,000 in the 07/08 fiscal year. The tax cut renders the Hong Kong government an income decrease of HK$1.7 billion. Financial Secretary John Tsang says if the economy and ...
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The Budget gives HK$150mn to support tourism
(Feb 28, 2008) As Hong Kong faces challenges from the tourism, convention and exhibition industries in Macau, Financial Secretary John Tsang allocates HK$150 million in the 2008-09 Budget to strengthen promotion in the coming 5 years. Hong Kong plans to fight for high quality meetings and exhibition business and to develop high value-added ...
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First Sino Bank targets Taiwan business in the delta
(Feb 28, 2008) First Sino Bank, a China-Taiwan joint venture based in Shanghai city in China, opens a Shenzhen branch in Guangdong province on February 27, 2008, to provide financing services to Taiwanese merchants. The Pearl River Delta has a mature business environment and favourable conditions for continual development, says branch head Zhu ...
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Bank of Comm: China not to raise interest rate for a while
(Feb 28, 2008) Bank of Communications International Research executive director Yan Jia-yuan forecasts that inflation rate will drop to a 5-5.5% level in China in the second half of 2008 when macro-economic control starts to show its influence. Due to the lunar new year and spring snowstorm in China, Yan believes the February ...
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Citic Ka Wah Bank: Renminbi to appreciate 8% in 2008
(Feb 28, 2008) Citic Ka Wah Bank forecasts that Renminbi will see an 8% appreciation and that the Chinese government will raise interest rate twice at the most in 2008. In its 2008 China economic outlook report, Citic Ka Wah Bank chief economist Liao Qun believes the stringent macro-economic control will have chance ...
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Citic Ka Wah Bank: China GDP slows down to 9.8% in '08
(Feb 28, 2008) Citic Ka Wah Bank forecasts in its latest macro-economic report that China's GDP will slow down to 9.8% in 2008, down from the double-digit rate of over 11% in 2007. In its 2008 China economic outlook report, Citic Ka Wah Bank chief economist Liao Qun points out that international economic ...
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