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Monthly Archives: November 2014

First private banks to start business next month

The first batch of private Chinese banks is expected to open by the end of this year thanks to earlier-than-expected progress in preparatory work, according to Shanghai Securities News. The proposed Wenzhou Minshang Bank may advance its opening time to the end of next month. Qianhai Micro Bank, which has...
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China approves more railway projects

China has approved construction of four railway lines worth 66.24 billion yuan (10.79 billion U.S. dollars) as the government steps up infrastructure investment to boost growth. It is the third time this month that China approved new railway projects. The new railway lines will run in northeastern Jilin Province, southwestern...
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Alibaba will sell debut bond on Thursday

hinese e-commerce giant Alibaba will sell its first-ever bond on Thursday, a jumbo trade expected to be around $ 8 billion in size that comes just two months after the company’s record IPO. It is looking to sell up to seven tranches, including five fixed-rate bonds ranging from three to...
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China may use tax cuts to stimulate housing market

China plans to build eight new natural gas production bases by 2020, each capable of producing 10 billion cubic meters of gas per year, in a move to reinforce the country’s natural gas supply, the National Business Daily reported Wednesday. China wants 10 percent of its energy supplied from natural...
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China plans to build 8 giant natural gas bases by 2020

China plans to build eight new natural gas production bases by 2020, each capable of producing 10 billion cubic meters of gas per year, in a move to reinforce the country’s natural gas supply, the National Business Daily reported Wednesday. China wants 10 percent of its energy supplied from natural...
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Beijing to get massive Ikea mall to lure middle class

The Inter Ikea Centre Group is hoping to expand its appeal to Chinese families by opening more sites in the country’s top 10 cities. Jointly owned by the Inter Ikea Group and Ikea Group, the commercial property operator said it plans to open its first shopping center in North China...
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China home price fall deepens despite policy support

China’s home prices slumped an annual 2.6 percent in October, shrugging off a range of government support measures in a nationwide downturn that threatens to stifle economic growth. Falling prices will more than likely deter investors seeking capital gains, and most analysts now expect the housing market correction to continue...
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UnionPay cardholders to enjoy discounts in 20 tourist cities

UnionPay International announced special privileges, including discounts of up to 40 percent, in 20 tourist destination cities and 10 resort islands for UnionPay cardholders on Nov 19. “We have rolled out multiple campaigns that cover global core business districts, duty free shops, tourist cities and resort islands to provide our...
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Winit and eBay seal strategic agreement

GLOBAL e-commerce giant eBay and Shanghai-based logistics service provider Winit Corp yesterday signed a strategic agreement that allows Chinese vendors to sell to overseas buyers amid a rise in cross-border e-commerce transactions in recent years. Winit will provide the Chinese vendors on eBay with a one-stop cross-border supply chain service...
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ECB’s Coeure: Yuan May Become Reserve Currency

The Chinese yuan has the potential to become a major international currency and to be included in the basket of currencies, ECB Executive Board member Benoit Coeure said during Euro Finance Week in Frankfurt. Frankfurt – The economic prowess of China is gradually translating itself into a greater presence on...
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