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Beijing banks have stopped providing discounts of up to 30 percent off the centrally determined benchmark lending rate for interest on mortgages for people buying a second home or commercial site, the Beijing Morning Post reported today. Now, buyers in Beijing must pay at least 40 percent of the purchase price upfront, and the rest through a mortgage with...
The Chinese government has not yet given approval to Sichuan Tengzhong Heavy Industrial Machinery Co. to purchase Hummer, government officials said Monday. The officials, who refused to be named, were commenting on recent media reports saying the Ministry of Commerce (MOC) had approved the Chinese machinery maker's acquisition of Hummer. Sichuan Tengzh...
The third cross-Straits trade promotion delegation from the Chinese mainland on Monday signed $3.87 billion worth of procurement contracts with Taiwan companies at Taipei World Trade Center. The Beijing-based Lenovo Group, a world leader in personal computers, signed contracts worth of $3.25 billion with nine Taiwan companies, while Hasee Computer Co, Ltd...
Aluminum Corporation of China (Chinalco), the world's second largest producer of alumina, says it is willing to further discuss cooperation over bauxite and alumina production with global miner Rio Tinto. The move indicates an easing of tensions between the two companies. "Chinalco is still willing to explore the possibility of cooperation with Rio Tin...
Dongguan-based Aoyu Hardware and Plastics Co Ltd in the Pearl River Delta region concluded its first cross-border yuan trade settlement deal on July 7, after the local government started pilot trials of the yuan trade settlement program. However, the firm has not conducted any more yuan settlements despite the theoretical advantages. "I have no idea whe...
Premier Wen Jiabao has warned that the country still faces uncertainties despite signs of economic recovery, saying the government will maintain its macro economic policies. In a statement on the government's website, www.gov.cn , Wen said Beijing will ensure a sustainable flow of credit and a "reasonably sufficient" provision of liquidity to support an...
Fiji's tourism targets the luxurious or high-end market in China to boost the highest money earner in the Pacific island nation. Tourism Fiji said on Monday that Fiji does not target the mass market as the country does not have the facilities and activities to cater for this segment. Visitors from China to Fiji has increased in 2009 from January to May...
China supports local private equity funds to boost mergers and acquisitions as it strives to improve its economic structure, Su Ning, deputy governor of the People's Bank of China, said on Saturday in Shanghai. China will improve the financing channels for M&A activities, including commercial bank loans and PE funds, Su said at a forum. "China's h...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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