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  • July 30, 2014
  • Last updated: 5:56pm
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  1. Business - Money - Money

    Mainland slows down forex buying

    Posted Aug 24th 2012, 12:00am by JANE CAI

    ... Jane Cai in Beijing xuejun.cai@scmp.com With slowing capital inflows and companies retaining their foreign currencies, the central bank faces limited options to boost yuan supply Mainland ... Bank of China's purchases of foreign exchange totalled 298.8 billion yuan (HK$365.79 billion) in the first seven months of the year, a year-on-year slump of 87 per cent, it said. Mopping ...

  2. Business - Economy - MR. SHANGKONG

    Forget 'Likonomics', it's all about economic stimulus in China again

    Posted Apr 07th 2014, 04:38am by George Chen

    ... During Wen's premiership, he announced the milestone four trillion yuan (HK$5 trillion) economic stimulus plan, partly in response to the 2008 global financial crisis. Later, the government guaranteed 10 trillion yuan in loan expansions to help maintain growth. Much of that went directly from the central bank to various infrastructure projects and local real estate investments. I'm ...

  3. Business - Economy - ECONOMY

    China fails to set timetable for financial reforms

    Posted Oct 02nd 2012, 12:00am by JANE CAI

    ... Jane Cai in Beijing xuejun.cai@scmp.com Investors hoping to see a timetable for yuan convertibility would have looked in vain No targets set in financial plans for major reforms No targets ... with no ambitious deadlines set for important reforms. Investors hoping for a timetable providing a countdown to the full convertibility of the yuan and the free movement of yuan exchange rates - the most ...

  4. Business - China Business

    Business Digest, January 10, 2013

    Posted Jan 10th 2013, 12:00am by Bloomberg, Toh Han Shih, Eric Ng

    ... Eric Ng   Yuan touches 19-year high before trade data The yuan touched a 19-year high before a report that is forecast to show mainland exports picked up last month. It touched 6.2216 per US ...

  5. Business - Banking & Finance - CURRENCIES

    China seeks accord on yuan-sterling swaps with UK

    Posted Mar 08th 2013, 12:00am by Ray Chan

    ... Ray Chan in Beijing ray.utchan@scmp.com As the largest forex market in the world and a financial centre, London is expected to become a hub for yuan trade in the West, says banker China seeks accord on yuan-sterling swaps China is poised to set up a currency swap agreement with the world's largest foreign exchange market in London as the yuan is expected to become the most ...

  6. Business - Banking & Finance - CURRENCIES

    China and Britain to sign yuan-pound swap deal

    Posted Feb 23rd 2013, 12:00am by Bloomberg

    ... Bloomberg in London China and Britain to sign yuan-pound swap deal The Bank of England and the People's Bank of China plan to sign a deal soon on a three-year currency-swap arrangement as London pushes to become an offshore centre for yuan trading. BOE governor Mervyn King and his PBOC counterpart, Zhou Xiaochuan, met in Beijing yesterday. Both central banks ...

  7. Business - China Business - VEHICLES

    The 40b yuan cost of new emission rule

    Posted Feb 25th 2013, 12:00am by Anita Lam

    ... that will be imposed on mainland carmakers from March 1 may cost the industry about 40 billion yuan (HK$49.28 billion), but well-prepared manufacturers say that for them, it is as much about opportunity ... emission controls at home, analysts said the extra costs involved, estimated at 2,000 yuan per car, would pose a bigger burden for local brands than their foreign counterparts. "While a cost ...

  8. Business - Companies - ACQUISITIONS

    China Unicom to buy parent's fixed-line network for 12 billion yuan

    Posted Nov 22nd 2012, 12:00am by BIEN PEREZ

    ... billion yuan (HK$15 billion) in cash to buy its parent company's fixed-line infrastructure on the mainland. The proposed deal covers 100 per cent equity interest in Unicom New Horizon ... appraisal report for the proposed deal, the book value of shareholders' equity of Unicom New Horizon was 11.39 billion yuan as of September 30. The company's net profit for the nine months ...

  9. Son defends official executed for graft

    Posted Feb 02nd 2011, 12:00am by Staff Reporter

    ... in Chongqing from 2005 to 2007, and Wen was the deputy police chief during that time. Wen was executed on July 7 for taking bribes of more than 16 million yuan (HK$18.86 million), covering up triad activities and raping a female university student. In the article, Wen's son Wen Jiahao recollected the frugal life he led during his high school days, spending no more than 100 yuan a week when ...

  10. News - China - NUCLEAR POWER

    China plans to spend 80 billion yuan on nuclear power plant security

    Posted Oct 18th 2012, 12:00am by Shi Jiangtao

    ... Shi Jiangtao in Beijing jiangtao.shi@scmp.com Upgrading of security sparks speculation that Beijing may end ban on new project approvals 80b yuan plan for reactor safety Beijing moved a step closer to ending its ban on new nuclear projects when it unveiled a plan to spend nearly 80 billion yuan (HK$99 billion) by 2015 to upgrade security standards at nuclear facilities. ...




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