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  • September 23, 2014
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  1. First yuan funds likely this year, official says

    Posted Jul 09th 2010, 12:00am by Enoch Yiu

    ... to its goal of becoming an international offshore yuan trading centre. Wheatley declined to confirm whether the SFC had already received a yuan investment product application. 'The SFC ... investors to transfer yuan funds to brokers and fund houses, a move that will enable companies to make initial public offerings in yuan, while fund houses can sell yuan funds and brokers can trade ...

  2. CNOOC secures 45b yuan nod for Huizhou project

    Posted Feb 23rd 2009, 12:00am by Eric Ng

    ... Eric Ng China National Offshore Oil Corp, the mainland's third-largest oil producer, has won approval to spend 45 billion yuan (HK$51.12 billion) to expand its only refinery ... the official. 'Given the decline in raw material prices, we can expect to reap substantial savings and complete the project below the 45 billion yuan budget.' Beijing last week unveiled broad ...

  3. Taizinai collapses with debts of 3b yuan

    Posted Apr 14th 2010, 12:00am by Naomi Rovnick

    ... owing lenders three billion yuan (HK$3.41 billion). Taizinai, which is best known for its probiotic yoghurt drinks, has been struggling since at least 2008, two people with knowledge ... are on the mainland and its borrowings are in yuan. Its Cayman-based holding company is legally responsible for the yuan debts. The liquidation is likely to be drawn out and messy, people involved ...


    Posted Aug 01st 2004, 12:00am by Staff Reporter

    ... an upside of 30 per cent. It was trading at $1.86 about a year ago. In March COSL announced a 31.46 per cent rise in net profit to 465.9 million yuan for 2003. Its drilling operation, which ... to clients through all phases- exploration, appraisal, development and production- of offshore oil and gas projects. The broker forecast an 18 per cent compound annual growth rate in net profit from ...

  5. National pension fund to invest 30b yuan in CDB before float

    Posted Oct 16th 2008, 12:00am by Staff Reporter

    ... Jane Cai The mainland's national pension fund intends to invest between 20 billion yuan (HK$22.71 billion) and 30 billion yuan in China Development Bank (CDB), the media reported yesterday. CDB is a policy lender that will become a commercial bank and seek a stock market listing. The National Social Security Fund, which managed 516 billion yuan at the end of last year, ...

  6. Online entrepreneurs try to trade their way out of economic crisis

    Posted Aug 01st 2009, 12:00am by Staff Reporter

    ... in the textiles industry, Mr Dai began to trade neck pillows on Taobao.com, the mainland's answer to eBay. 'It was tough to start with. I could only earn several hundred yuan each month, ... of online trading when he was surfing the internet one day. He saw a pillow he liked, clicked the mouse, and later received the parcel. Everything was swift and simple - and a promising alternative ...

  7. Shanghai hub role rides on yuan bets

    Posted Apr 18th 2009, 12:00am by Staff Reporter

    ... as China displays its increasing financial strength. Inevitably, the rise of the yuan from the world's third-largest economy and the largest trade deficit country to all Asian countries, ... share the stage as an international trade currency with the dollar, which accounts for 70 per cent of international trade, by boosting yuan swaps with other countries. Since December last year, ...

  8. Bondholders in bid to wind up China Sun

    Posted May 14th 2010, 12:00am by Naomi Rovnick

    ... JP Morgan and a Goldman Sachs-run hedge fund close to US$80 million. The bondholders have been in discussions with China Sun for more than a year after 592 million yuan (HK$674 million) went ... against China Sun in Singapore where the company's shares were traded until it was delisted last month, two people with direct knowledge of the situation said. Last May, China Sun's ...

  9. China Southern gets 1.5b yuan in state aid

    Posted Feb 24th 2010, 12:00am by Charlotte So

    ... Charlotte So China Southern Airlines, the region's largest airline by fleet size, will issue 1.5 billion yuan (HK$1.71 billion) worth of new shares to its parent China Southern Air Holdings to fund new aircraft purchases and to top up working capital, an official said yesterday. Trading in shares of the Guangzhou-based airline was suspended yesterday after the company said ...

  10. HSI declines for a third day in volatile trading

    Posted Dec 10th 2004, 12:00am by Staff Reporter

    ... Hui Yuk-min Analysts expect index to trade in a narrow range ahead of next Tuesday's Fed meeting in the US Hong Kong's benchmark index saw a third day of choppy trading ... in early trading. The index closed the day 13.5 points lower at 14,008.82, its third consecutive daily decline. The HSI has lost 248.04 points, or 1.7 per cent, since Monday's close. Sam Yu ...




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