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Bank of China gets billions of profit from new Chinese policy
(Aug 22, 2007) As the Chinese government allows investors to directly buy Hong Kong's H shares via the Tianjin's Binhai New Area, the Bank of China (BOC)'s profit for the year will likely soar. The BOC, as the sole agent for the pilot scheme, will have an additional RMB339 million to RMB3.39 billion ...
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Beijing to popularize bank card acceptance for Olympic 2008
(Aug 22, 2007) As the 2008 Beijing Olympic Games draws close, Chinese banks step up to the challenges and opportunities. In 2008, Beijing will attract an estimate of 4.8 million overseas travelers and 100 million domestic visitors, up by 14% and 7.5% respectively. The host city will improve bank card acceptance rate by ...
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HSBC awarded the best Internet bank in Asia
(Aug 22, 2007) The Hong Kong and Shanghai Banking Corporation (HSBC) was awarded the world's best integrated corporate Internet bank in Asia 2007 by e-Magazine "Global Finance", announced Margaret Leung, general manager global co-head commercial banking of HSBC. HSBC is the best corporate/institutional Internet bank in China and Malaysia. Leung said the bank ...
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Hopewell will focus on developing properties and infrastructure
(Aug 22, 2007) Hopewell Holdings anticipates that property business will become the main factor to its growth. Development of three core businesses will be focused on property, infrastructure and hotel. The Holdings plans to achieve profit of 50% growth in investment property before financial year 2011-2012 by appreciation of asset, increase in rent ...
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Hopewell annual turnover increases by 80.6%
(Aug 22, 2007) Benefited from the satisfactory selling of Nova City in Macau and Hopewell New Town in Huadu, Hopewell Holdings' annual turnover in 2006-2007 increased by 80.6% to HK$4.72 billion. Hopewell Holdings does not plan to sell any asset for it can employ HK$19 billion from the HK$1.9 billion and HK$3.9 billion ...
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HKC to develop properties in Shanghai and Guilin
(Aug 22, 2007) Property developer HKC (Holdings) Ltd. will concurrently work on property projects in Shanghai, Tianjin and Guilin, Guangxi Province. HKC will acquire 10% more of the equity of a commercial project in Northern Bund in Shanghai. Investment will increase from RMB6.5 billion to RMB8.5 billion accordingly. An office building of 180,000 ...
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Harbour City continues to diversify due to good visitor flow
(Aug 22, 2007) Turnover of the Harbour City shopping mall in July 2007 exceeded HK$1 billion. Sale per square feet reached a new high of HK$1,200, up by 30% from July 2006. The growth was driven by the tenth anniversary of Hong Kong's handover, said spokesperson of the mall. Turnover of spectacles, fashion ...
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Mortgage providers roll out new offers to attract property buyers
(Aug 22, 2007) The Hong Kong Mortgage Corporation Limited will lower mortgage insurance fee by a maximum of 50% to attract more property buyers. In the past year, Hong Kong's property rental has risen on the whole. In some districts, renting a flat is even more expensive than buying one. In view of ...
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Bank of China may issue Renminbi bonds in September
(Aug 22, 2007) The Bank of China (BOC) plans to issue bonds of RMB3 billion in Hong Kong in September 2007. It will decide the coupon rate soon. It is estimated that BOC will price the coupon rate at about 3%. The estimated coupon rate together with the 5% annual potential increase of ...
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Ming An extends insurance business to inland China
(Aug 22, 2007) The Ming An (Holdings) Co. Ltd, an insurance company in Hong Kong and mainland China, will inject capital to its Chinese subsidiary for inland expansion. The company will inject HK$500 million to its Ming An China. To spread the insurance business inland, branches will be set up in Tianjin Municipality, ...
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