China News Direct

 
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Wing On Travel to launch new railway tours to Tibet
(Jun 11, 2007) Due to the opening of Tibet to the world, Wing On Travel has taken this opportunity to launch a new luxury railway trip to Lhasa. Wing On Travel will work with Tanggula to extend the luxury railway touring service to Tanggula. Up to now, there are two routes of the ...
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Four Hong Kong banks to issue bank cards in China
(Jun 11, 2007) As China is gradually opening her banking market, four foreign banks namely HSBC, Bank of East Asia (BEA), Citibank and Standard Chartered Bank, have applied for cards issuance. Since China Banking Regulatory Commission (CBRC) announced the relevant procedure for foreign banks to issue cards on the 4 June, 2007, the ...
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Shui On Land speeds up development in Chongqing
(Jun 11, 2007) Shui On Land will expand investment in the Chongqing Tiandi real estate project in Mid-western China. Shui On Land has invested RMB1.1 billion in Phase 2 of Chongqing Tiandi which is mainly a residential project. Phase 1 involved a gross investment of about RMB600 million and will be sold in ...
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Ping An Life Insurance takes 4.9% of Minsheng Bank
(Jun 11, 2007) Following the Chinese government's relaxed policy to allow insurance companies to hold diversified investment, Ping An Life Insurance, a subsidiary of Ping An Insurance (Group) Company of China, bought 714 million non-public issued shares of China Minsheng Banking Corp. Limited, with RMB 7.63 per share. The acquisition represents 4.93% of ...
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Olympic Games brings hotel room rates up tenfold
(Jun 11, 2007) Prices of hotels are expected to soar as high as eight to tenfold more than normal at the course of Beijing 2008 Olympic Games. From market news, a local Beijing hotel Kunlun sets the room price at RMB12,000 a night during the Olympic Games period and only accepts the full-course ...
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HSBC China brings new QDII products for mainlanders
(Jun 11, 2007) HSBC China has just released three new QDII investment products. The new products allow investors access to equity and fixed income investment in the world. The three new QDII products launched by HSBC China have an investment period of two years. The minimum investment amount in each product is RMB30,000. ...
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Floods bring more business to insurance companies
(Jun 11, 2007) Home and property insurance revenue grew by over 50% in South China due to threat of floods. Natural hazards like floods in South China have indeed created business opportunities for insurance companies. From January to May 2007, insurance premium of property and casualty insurance in Dongguan, Guangdong Province, amounted to ...
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China Railway Erju to build RMB10bn tourist town in Hainan
(Jun 11, 2007) Hainan Province signed up 32 projects at the Fourth Pan-Pearl River Delta Regional Economic and Trade Fair held in Changsha in mid-June 2007. The 32 projects have total investment value of RMB32.4 billion. Among the investment projects picked up by Hainan, China Railway Erju Group Corporation signed up a RMB10 ...
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PBOC policy drives credit and loan growth down
(Jun 11, 2007) Both deposit and credit loan growth of banks in Shanghai slackened in May 2007. According to the Shanghai headquarters of the People's Bank of China (PBOC), domestic and foreign financial institutions in Shanghai had a total deposit of RMB2,710 billion by the end of May 2007, up by 10.1% from ...
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Pan Pearl River Delta and ASEAN agree on further cooperation
(Jun 11, 2007) Chief executives, provincial leaders and representatives from different cities of China and from Pan Pearl River Delta met with financial officers from ASEAN countries at Changsha in Hunan Province recently. At the meetings, the main themes to be discussed circled around cooperations among trading, investment and tourism. The following consensus ...
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