Finance Ministry

China finance ministry to reopen 3-year bonds

China's finance ministry. Photo: SCMP picture

China’s Ministry of Finance said on Wednesday that it would reopen an issue of 3-year bonds, auctioning an additional 28 billion yuan (US$4.50 billion) on December 5.

Wednesday, 28 November, 2012, 11:10am

Government credit cards laudable, but only a step

State leaders have long conceded that official corruption from top to bottom has plagued the mainland's development. They have pledged to strive for clean government to help maintain social stability. An anti-corruption drive has netted some big fish, including the recently executed former drug administration chief and top party officials in Shanghai.

28 Jul 2007 - 12:00am

Lottery bar ends

Taiwan will end a nine-year suspension of national lotteries before December to raise funds for social welfare programmes, the Finance Ministry said. Sales of tickets, available through the state-run Bank of Taiwan and with a top prize of NT$2 million (HK$460,000), are expected to generate NT$15 billion a year in revenue.

2 Jul 1999 - 12:00am

Malaysian surplus shoots up to $58b

MALAYSIA'S current account showed a surplus of M$29 billion (about HK$58.94 billion) in the nine months to September 30, from a $12.2 billion deficit a year earlier.

The surplus far exceeded estimates of $20 billion for the first three quarters of the year.

27 Dec 1998 - 12:00am

Mainland bonds on market

The mainland Finance Ministry has announced certificate treasury bonds worth 17.36 billion yuan (about HK$16.16 billion) will be issued from today until October 31. The five-year bonds will carry a coupon of 7.86 per cent.

8 Apr 1998 - 12:00am

New cost curbs on state firms

STATE enterprises have been ordered to curb spending and control the rate of pay rises.

An order issued by the Finance Ministry has revealed details of spending guidelines and further austerity measures.

4 Jan 1998 - 12:00am

Finance Ministry share swap

The Finance Ministry has transferred shares it held in three big securities companies to the State Council 'to promote the healthy development' of the mainland's securities industry, the Shanghai Securities News says.

12 Aug 1997 - 12:00am

Scindia Steam selling last ship

Scindia Steam Navigation Co, once the pride of the Indian shipping industry, is selling its only ship.

The decision comes in the wake of the finance ministry's failure to put together a revival plan for the ailing company. The new board of the company has decided to sell the 27,000 deadweight tonne twin-decker.

19 Feb 1997 - 12:00am

Great Eastern borrowing cut

The Indian finance ministry has slashed the external commercial borrowing programme of state-owned Great Eastern Shipping Co by two-thirds to US$50 million.

The ministry's decision follows declining income from the company's main operations during the year to March 31, even though the size of its total loans almost doubled over the 12 months.

11 Oct 1996 - 12:00am

Moving the right way

THE decision by the Chinese Finance Ministry to tender out a portion of this year's short-term treasury bonds is a small but crucial step in the right direction.

As well as a quota allocated by the ministry, the 50 primary dealers may tender for a bigger share of the issue.

16 Aug 1995 - 12:00am

Taiwan considers new gold exchange

TAIWAN'S gold dealers have applauded a Finance Ministry proposal for the island's first standardised gold exchange.

'The draft hits the points and is feasible,' said Chang Cheng, an official with the state-owned Central Trust of China, Taiwan's main gold importer.

14 Nov 1994 - 12:00am

Futures market to replace contango setup

AFTER a lengthy internal debate, the Indian finance ministry has decided that a futures and options market will replace the existing badla (contango) system.

The Securities and Exchange Board of India (SEBI), the watchdog of the stock markets, will soon be asked to finalise how and when the badla system can be abolished.

10 Sep 1993 - 12:00am

Go-ahead for equity sales

JAPAN'S Finance Ministry will allow banks to sell equity to generate cash to bolster earnings in the year to this month, according to a newspaper report.

4 Mar 1993 - 12:00am

Scandal brews

BONN: A major corruption scandal is stirring in Germany involving the Defence Ministry, the Finance Ministry, national politicians and a high-altitude spy plane that test pilots say is barely fit to fly. The affair centres on an expensive Defence Ministry project called the Lapas surveillance system.

2 Feb 1993 - 12:00am

Stock sales warning

THE Japanese Government will ask financial institutions to avoid selling their stock holdings to dress up their accounts for the fiscal year ending on March 31.

The Finance Ministry aimed to stop large-lot sales that would send the stock market plunging further.

18 Jan 1993 - 12:00am

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