China News Direct

 
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Experts: limited direct exchange may solve capital flow issue
(Nov 20, 2007) Most Chinese experts support Premier Wen Jiabao's comment about illegitimate capital flow in Shenzhen. These experts suggest the Chinese government to trial run a scheme to allow selected banks to provide certain amount of Renminbi direct exchange between Shenzhen and Hong Kong. Wu Xiaoqiu, Deputy Dean of School of Finance ...
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Central government to carry out measures against withdrawal limits
(Nov 20, 2007) Senior officials in the central government are considering withdrawal limits in Shenzhen as an inappropriate action and are planning to churn out remedies, says Li Youhuan, the Deputy Head of the Industrial Economy Research Institution in the Guangdong Academy of Social Sciences. The withdrawal limits in Shenzhen banks have affected ...
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Premier Wen urges closer China-Singapore cooperation on trade
(Nov 20, 2007) Chinese Premier Wen Jiabao encourages Sino-Singapore cooperations in four aspects to reinforce commerce and trade ties between the two countries. After four rounds of intensive negotiations spanning over 14 months since August 2006, both China and Singapore show eagerness to speed up bilateral free trade. China is willing to facilitate ...
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Foreign banks target services industry in Lowu
(Nov 20, 2007) With its increasing wealth and business prosperity, Lowu in Shenzhen has become a "must-have" business base for many foreign banks. Foreign banks find most of its income from the modern services industry in Lowu. Due to Lowu's favourable business environment and its availability of a strong customer base, many foreign ...
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17 projects signed at Tieling-Hong Kong trade fair
(Nov 20, 2007) Tieling-Hong Kong economic cooperation meeting attracts more than 200 companies. About 17 projects worth US$500 million were signed. Held in Hong Kong, the trade meeting has attracted over 200 businessmen from Hong Kong, Macau, Taiwan and Southeast Asian countries. According Zhang Jingqiang, Mayor of Tieling, many renowned top 500 enterprises ...
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Chinese banks have an eye for Standard Chartered stakes
(Nov 20, 2007) According to Financial Times of the UK, three largest mainland Chinese banks have separately approached Temasek informally about buying its 17% stake in Standard Chartered PLC. The three mainland banks are Industrial and Commercial Bank of China (ICBC), Bank of China (BOC), and China Construction Bank (CCB). The acquisition plans ...
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Shenzhen banks firm on withdrawal limit
(Nov 20, 2007) Shenzhen banks insist that the cash withdrawal limit imposed recently works in controlling the amount of withdrawal and meeting customer demands. A People's Bank of China's (PBOC) Shenzhen branch spokesman says the bank will not comment on Premier Wen's opposition to the withdrawal limit in Shenzhen banks. As every commercial ...
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Hong Kong able to absorb withdrawal shocks from Shenzhen
(Nov 20, 2007) Referring to Shenzhen banks' move to impose a limit on cash withdrawal, Ceajar Chan, Secretary for Financial Services and the Treasury of Hong Kong said such a move is mainland banks' own decision. Capital flow to Hong Kong is not affected. Chan stressed that combating mainland's underground banks would not ...
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Hilton and Jumeirah open two new hotels in Shanghai
(Nov 19, 2007) Two five-star hotels are going to start operation in Luwan District, Shanghai in August 2008. The two new hotels, extending from Xintiandi in Shanghai, will be operated by Hilton Group and Jumeirah Group. This is the first time Jumeirah opens a hotel in Southeast Asia. Luwan District in Shanghai Xintiandi, ...
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Hitachi (China) Finance formed to support expansion
(Nov 19, 2007) Hitachi of Japan has formed a financial subsidiary in China. The subsidiary mainly operates Hitachi's capital and financial business in the mainland. The subsidiary, Hitachi (China) Finance Co. Ltd., will be located in Shanghai. It has a registered capital of RMB300 million and will be fully owned by Hitachi. It ...
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