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| Friday, July 18, 2008 21:24:36 |
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June 19,2007
China Minsheng Banking Corp – the country’s first private bank – plans to issue RMB20 billion worth of bonds, the Shanghai Securities News reported. The bank is expected to raise RMB8 billion through its three-year flat rate bonds and RMB12 billion through three-year and five-year floating-rate bonds. The bank hopes to increase its capital reservesin order to boost its loan services and hence its interest income and earnings. The bank, which was founded in 1997, hopes to increase its lending to RMB530 billion in 2007.
May 30,2007
Chinese companies are looking offshore to meet the country’s voracious appetite for natural resources. As China Business News reports, they are meeting with more failure than success. Consolidation and greater government support is needed.
April 27,2007
The News Corporation has announced plans to bring the popular social networking website MySpace to China with a novel approach.
April 26,2007
China’s 319 mutual funds, managed by 55 companies, are worth a total of US$153.3 billion, a 38% increase over year-end 2006.
April 24,2007
Last year, a total of 680,000 new privately owned companies were registered in China, an increase of 15.8% over last year. There are now a total of nearly five million private enterprises, according to the State Administration for Industry and Commerce.
April 23,2007
According to the China Machine Tool and Tool Builders Association, engineering manufacturers in China rely too heavily on imported key components. Ninety percent of digital-control systems are of foreign origin. April 20,2007
Last year the number of credit cards in China grew by 22.7%, to a total of almost 50 million, and banks are rushing in to meet this growing demand. However, debit cards remain quite a bit more popular, with a total of 1.08 billion in use last year.
April 20,2007
In a meeting with Chinese Vice Premier Wu Yi, Bill Gates and Rick Wagoner apparently praised China’s “unprecedented progress” on IPR protection. For his part, Wu “told them the Chinese government has all along attached great importance to IPR protection, and has made positive efforts in legislation and law enforcement to protect IPR.” April 20,2007
In a research report included in the ongoing Boao Forum for Asia conference, Merrilly Lynch identified five key trends in the Chinese economy.
April 19,2007
Casino reveneu in the world’s largest gaming market grew 45%, to HK$17.87 billion in the first quarter of this year. Macao now has twice as many gaming tables as last year, and several large projects are still in the pipeline.
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