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Finance:
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UnionPay launches tax refund services for overseas purchases
China UnionPay (CUP), the only domestic credit card organization in the country, has recently launched the tax refund service for CUP standard cardholders, who purchase goods outside China, sources reported. CUP will team up with the Global Refund Group on the service and allow CUP standard card...More
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13.86 bln shares become tradable in Jan due to lock-up expiries
Around 13.86 billion shares of 116 listed companies in either Shanghai or Shenzhen will emerge from their respective lock-up period and become tradable this month, sources reported.The number of shares was 11.25 billion less than that of the previous month. The combined market cap of these shares is...More
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BoComm offers further discount to existing home loan owners
Bank of Communications (BoComm)<601328><3328>, partly owned by HSBC Holdings Plc<5>, said it would offer a discount of up to 30% on the interest rate of the home loans to its existing home loan owners.The Chinese lender said in a statement that the mortgage owners whose outstanding value of...More
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China 2008 fiscal revenue to grow 19%: MOF
China's fiscal revenue for 2008 is expected to rise 19% to exceed RMB 6 trillion from RMB 5.13 trillion in 2007, said Xie Xuren, Minister of Finance, at a work conference on Monday.The country's fiscal revenue was up 20.5% year-on-year to RMB 5.8 trillion in the first 11 months of last year, of whic...More
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China AMC eyes 25% growth in private wealth management assets
China Asset Management Co (China AMC), the largest fund manager in the country, expects its assets of private wealth management business will grow to RMB 50 billion in 2009 from the current RMB 40 billion, according to a report by Dow Jones on Sunday. The company runs private wealth management busin...More
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ADBC to issue RMB 12 bln 5-year bonds on Fri
The Agricultural Development Bank of China (ADBC) announced it will issue RMB 12 billion five-year fixed-rate bonds on the interbank market on Friday, the first batch of bonds issued by ADBC this year.
The policy bank said in a statement that it has the option to add up to RMB 6 billion in the cour...More
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China auto imports up 13% in 2008
China imported around 2.26 million cars last year, representing an increment of 13.06% year on year, sources reported, citing a government statement as saying.511,700 motor cycles were imported during the year, 310,000 or 38% less than that of the previous year. Separately, statistics from the custo...More
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BoComm offers further discount to existing home loan owners
Bank of Communications (BoComm)<601328><3328>, partly owned by HSBC Holdings Plc<5>, said it would offer a discount of up to 30% on the interest rate of the home loans to its existing home loan owners.The Chinese lender said in a statement that the mortgage owners whose outstanding value of...More
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China to install supercomputer in April
China-made supercomputer Dawning 5000A with the cute name Magic Cube is expected to be installed in Shanghai Supercomputer Center (SSC) in April this year, said Li Jun, president of Dawning Information Industry Co.Funded by Ministry of Science and Technology and Shanghai Municipal Government, the...More
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BoComm offers further discount to existing home loan owners
Bank of Communications (BoComm)<601328><3328>, partly owned by HSBC Holdings Plc<5>, said it would offer a discount of up to 30% on the interest rate of the home loans to its existing home loan owners.The Chinese lender said in a statement that the mortgage owners whose outstanding value of...More
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