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  1. Credit-cards-only rule to fight graft

    Posted Dec 10th 2011, 12:00am

    ... Staff Reporter Beijing will make the use of official credit cards for major purchases mandatory for officials from next year. The move is a bid to curb the abuse of public money and assuage public anger over corruption. The Ministry of Finance said on its website that 16 categories of business expenses will be required to be settled by official credit cards in order ...

  2. 'Wins' but no gain in UnionPay card game

    Posted Jul 23rd 2012, 12:00am

    ... to handle payments. Central University of Finance and Economics professor Guo Tianyong said Beijing was expected to take a gradual and cautious approach to opening China's credit card payment market 'under the premise that financial security is being safeguarded'. He said security concerns were higher in relation to credit cards than other financial services because ...

  3. Beijing's level of debt casts doubt on credit rating

    Posted May 15th 2012, 12:00am

    ... a sovereign credit perspective, debt migration from the rest of the economy onto the government balance sheet was raising concerns. Apart from central government debt, contingent liabilities ... long-term foreign currency with a stable outlook, and a 'AA-' on the long-term local currency outlook, with a negative outlook, even though its sovereign credit rating looks strong ...

  4. Past on a card

    Posted May 13th 2012, 12:00am

    ... is today,' Titus says. The postcard was, above all, a work of art. Old Beijing contains a number of reprints of hand-tinted cards. It was a laborious craft in which translucent oil paints were ... from Manchu fashions (unlike the Chinese, Manchu women did not bind their feet) to images of camel trains from the Silk Road who lolled outside the city's great gates. Cards also showed ...

  5. Business - China Business - MR. SHANGKONG

    Faith can go on its merry way, but get the festive spirit and shop

    Posted Dec 23rd 2013, 04:47am by George Chen

    ... government departments and major state-owned enterprises in the city that they should refrain from big spending in holiday celebrations. How big is big? Is to print some holiday greeting cards and calendars and send them to your working contacts as gifts really a big thing? To the anti-graft agency in Shanghai, it seems that it is, and that's why printing such cards and calendars ...

  6. Cagey on his age, Hu's voting card is invalid

    Posted Nov 12th 2011, 12:00am

    ... Stephen Chen binglin.chen@scmp.com President Hu Jintao showed up at an election booth in Beijing for the city's district elections on Tuesday and took a voter's registration card from a chest pocket. The palm-sized card, seen by millions watching the official China Central Television newscast that night, contained all Hu's personal information correctly- except ...

  7. Lenders offer 60b yuan credit line to Lize project

    Posted Jul 29th 2009, 12:00am by Staff Reporter

    ... Woods Lee in Beijing Twelve mainland banks have agreed to offer an initial 60 billion yuan (HK$68.07 billion) credit line to the Lize financial district in Beijing, which would be the biggest property project since last year's Olympic Games. The mainland's four biggest state-controlled commercial banks and China Development Bank, a former policy bank, each put up ...

  8. Small lenders boom on mainland

    Posted Jun 04th 2012, 12:00am

    ... to provide short-term credit. There are now more than 4,800 such microcredit firms on the mainland, a sevenfold rise over four years. At the end of last year, total loans outstanding climbed 87 per ... that better reflect market dynamics than the administered rates offered by mainland banks. For instance, CreditEase, a Beijing-based firm, offers wealth management services to clients including ...

  9. Property big wheels to benefit from tighter credit

    Posted Dec 22nd 2007, 12:00am by Peggy Sito, Yvonne Liu

    ... Yvonne Liu and Peggy Sito Hong Kong-listed China Resources Land says tighter credit measures imposed by Beijing will provide more opportunities for the company as weaker players are forced ... teamed up with a Beijing developer to acquire a prime commercial and residential site in the capital for 2.06 billion yuan. China Resources Land managing director Wang Yin said the credit squeeze ...

  10. Out of the shadows

    Posted Apr 23rd 2012, 12:00am

    ... microcredit firms. Shareholders of such firms can use their own money to offer credit to clients, charging a maximum interest rate of four times the central bank's guided rates. Wenzhou plans ... are still unable to check out exactly how the loans are being used,' said Wang Xiaoyong, a credit-issuance director at Heben. 'To be honest, we make a call based on our own judgment ...




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