Mainland decries anti-dumping probe by US into kitchen shelving
Beijing has expressed regret at a decision by the United States to investigate imports of Chinese-made kitchen shelving and racks for dumping and state subsidies, saying frequent US probes risked jeopardising trade relations. The Ministry of Commerce yesterday said the move brought the number of mainland products the US had cited since 2006 to 13, even though the US had no evidence, no legal grounds and did not meet World Trade Organisation conditions. It said the investigation would send the wrong signal to WTO member countries. Beijing said it reserved the right to resolve the trade dispute at the WTO. Denise Tsang
Bank of Beijing plans fund management joint venture
Bank of Beijing, partly owned by ING Group, will set up a fund management venture with Bank of Nova Scotia. Bank of Beijing would own 67 per cent of the Beijing-based venture, with registered capital of 300 million yuan (HK$342.6 million), it said. Bank of Nova Scotia, Canada's third-largest bank by assets, will own the balance. Bank of Beijing, the mainland's biggest city bank by assets, said first-half profit surged 120 per cent to 2.9 billion yuan on loan demand. Bloomberg
New home loan approvals decline by 16.6pc in July
New home loan approvals in Hong Kong fell 16.6 per cent last month to HK$18.43 billion, dragged down by a 32.9 per cent decline in approvals for primary market transactions and a 16.1 per cent drop for secondary market transactions, the Hong Kong Monetary Authority said. New mortgage loans drawn down last month rose 3.6 per cent to HK$17.32 billion from HK$16.72 billion in June. Fulton Mak
NagaCorp seeks to cash in on Macau visit restrictions
