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  • October 31, 2014
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  1. ICBC (Asia) pins hopes on yuan trade settlement

    Posted Mar 25th 2009, 12:00am by Enoch Yiu

    ... trade settlements after second-half profit fell 94.21 per cent. Chen Aiping, the bank's managing director and chief executive, said the yuan settlement business would provide a rare ... the world's largest lender by market value. Market observers widely expect Beijing's proposal to allow bilateral trade to be settled in yuan will be introduced this week. Such trade now uses ...

  2. HKEx profits dip in third quarter

    Posted Nov 11th 2010, 12:00am by Enoch Yiu

    ... Arculli said the expansion of the yuan trade settlement in Hong Kong and the development of yuan investment products in Hong Kong would help Hong Kong become an offshore yuan trading centre. 'At HKEx, we will continue to introduce mainland-related products to expand our China dimension. We are also modifying our infrastructure to support the trading of yuan products in our ...

  3. Business digest

    Posted Oct 27th 2004, 12:00am by Staff Reporter

    ... obligations to the World Trade Organisation. Yesterday, the company announced its net profit for the three months to September soared 53.6 per cent year on year to 23.19 million yuan. For the nine ... yesterday, with net profit falling 17.7 per cent year on year to 1.32 billion yuan. For the first three quarters, net profit dropped 2.8 per cent to 3.86 billion yuan. UBS Securities head of Asian ...

  4. Mainland trade growth drives Sinotrans

    Posted Aug 25th 2003, 12:00am by Annette Chiu

    ... Robust trade growth in China is expected to have helped drive up the interim earnings of mainland freight forwarder Sinotrans, which reports its half-year results today. The H share ... continued to benefit from China's robust trade growth, a strong shipping market with increasing freight rates and the fast growing express market, said Peter Hilton, an analyst with Credit ...

  5. CNR awaits approval for up to 10b yuan share sale

    Posted Jul 14th 2009, 12:00am by Toh Han Shih

    ... 7 billion yuan (HK$7.94 billion) and 10 billion yuan. The firm's listing application is being vetted by the China Securities Regulatory Commission, according to a Shanghai Securities News ... analyst Barry Chan Tsang-shing estimated CNR could raise at least 10 billion yuan from a mainland listing, while another source said the company might raise about 7 billion yuan. The other leading ...

  6. Zhujiang Brewery gets approval for 1b yuan mainland IPO

    Posted Jul 26th 2008, 12:00am by Staff Reporter

    ... offering on the mainland to raise up to 1 billion yuan (HK$1.14 billion). The China Securities Regulatory Commission has approved the brewer's plan to sell up to 70 million shares, equivalent to 10.29 per cent of its enlarged share capital, according to a statement on the regulator's website. A source close to the company said the trading debut was expected in a couple of months ...

  7. Sinopec receives 7.1b yuan state subsidy to help offset high oil price

    Posted May 28th 2008, 12:00am by Kandy Wong

    ... Kandy Wong China Petroleum & Chemical Corp (Sinopec) was paid a record 7.1 billion yuan (HK$7.97 billion) in state subsidies for oil imports last month after global crude surged close ... billion yuan while the sum for 2006 was 5 billion yuan. 'The 7.1 billion yuan subsidy for a single month is a large number and Sinopec's refining business should break even by the end ...

  8. 'Boring' firm rides river-trade wave

    Posted Mar 06th 2005, 12:00am by Henry Chan

    ... dependent on its neighbour Guangdong. Last year trade surged 24 per cent to 380 billion yuan. In January alone, trade was up 25.6 per cent on the same month last year, pointing the way to another ... with the resource-rich southwestern provinces of Guangxi, Guizhou and Yunan. Guangdong will invest some 5 billion yuan in the coming 5 years in strengthening the transport capacity of the three rivers. Coupled ...

  9. Tool trade powers past austerity bar

    Posted Nov 22nd 2004, 12:00am by Toh Han Shih

    ... Publications, a United States trade publisher. By comparison, machine tool imports of the US, the second-biggest importer, grew only 3 per cent to US$2.58 billion last year. 'Everybody's ... on Chinese textiles. In the first half, Jingwei's turnover dropped 6.5 per cent to 1.95 billion yuan and net profit fell 7.4 per cent to 78.4 million yuan. During the same period, Fong's ...

  10. China Oilfield Services shrugs off Libya setback

    Posted Mar 24th 2011, 12:00am by Eric Ng

    ... And despite political upheavals in the Middle East and North Africa, Africa would remain a focus of expansion for the country's dominant supplier of offshore oil and gas drilling and support ... rise in net profit to 4.13 billion yuan (HK$4.9 billion) for last year, 2 per cent ahead of the 4.05 billion yuan average forecast of 19 analysts polled by Thomson Reuters. Revenues fell ...




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