China News Direct

 
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IMF sees need to calm down investment
(Oct 18, 2007) To reduce crisis from recent overheat investment in China, International Monetary Fund (IMF) appeals to China again to adjust her monetary policy. China's economic growth may still be ahead of other Asian countries in 2007 and next year, said IMF yesterday in its latest World Economic Outlook. The report predicts ...
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Shenzhen invests RMB20mn each year in trade exhibition
(Oct 17, 2007) Shenzhen plans to build an exhibition centre of 200,000 sqm at Shenzhen Air Logistic Park, which will become the largest exhibition centre in the region. Shenzhen government will put in RMB20 million each year to the exhibition industry financial support fund. By 2010, the total exhibited area will be accumulated ...
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Fisherman's Wharf adds hotels and entertainment to stay competitive
(Oct 17, 2007) Since the new exhibition centre at The Venetian Hotel in Macau started operation in late September, many other exhibition companies and tourist companies feel the heat of competition. They have launched promotions and special-theme programs to attract visitors. To fight back, the Macau Fisherman's Wharf plans to build new hotels ...
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Hong Kong needs action to keep exhibition strength
(Oct 17, 2007) Hong Kong faces increasing threats from since Macau targets at achieving bigger and better exhibition business. After the completion of the Venetian Macao-Resort-Hotel, the large-scale convention and exhibition centre in Macau draws the attention from worldwide exhibitors. A number of exhibitors, who used to hold expositions in Hong Kong, shift ...
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Standard Chartered First Bank buys A Brain for new customers
(Oct 17, 2007) Standard Chartered First Bank Korea (SC First Bank) will acquire 80% interest of A Brain Co., Ltd. (ABL), a Korean fund management company. ABL focuses exclusively on fund accounting services. Its target customers include international and domestic leading investment management companies. The stock acquisition helps SC First bank absorb new ...
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Kerry Properties invests RMB2.1bn in Chengdu properties
(Oct 17, 2007) Kerry Properties has completed a plot of land purchasing transaction for RMB1.042 billion. It plans to invest at the most RMB2.1 billion to develop residential and commercial properties in Chengdu, Sichuan province. The company joins hand with its mother company Kerry Holdings and a Singapore listing company Allgreen Properties Limited ...
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Bank of Comm sees profit up 60% due to loan growth
(Oct 17, 2007) The Bank of Communications (Bank of Comm) anticipates annual profit of more than RMB20 billion in 2007 due to a rapid development in the banking industry in the Mainland. An increasing demand for loans due to economic growth leads to higher revenues from its intermediary businesses. The chairman of Bank ...
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China Investment Corp targets global investment
(Oct 17, 2007) China Investment Corporation Limited (CIC) chairman Lou Ji-Wei says that they have not invested in any Hong Kong stocks at this moment. However, they plan to invest in the global market including the one in Hong Kong in the future. Lou emphasizes that CIC will run like a normal business ...
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Midland sees over 20% price rise of ordinary flats
(Oct 17, 2007) The prices of the mid- and small-scale residential flats are anticipated to increase by 20% in the following six months. During the first three quarters of 2007, the property price of 50 large-scale estates rose by 9.2% while the properties on the Hong Kong Island grew by more than 10%. ...
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HSBC called to check investment banking power
(Oct 17, 2007) HSBC Holdings plc is asked to close most of the investment banking business for economies of scale. Knight Vinke Asset Management, an institutional fund in the US, states the group is too concentrated on the development of the corporate banking business and lending business. However, HSBC has not achieved satisfactory ...
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