China’s largest mobile phone service provider became a strategic investor in the Shanghai Pudong Development Bank (SPDB) after a multi-billion dollar stock purchasing deal on Wednesday.
Guangdong Mobile, China Mobile’s branch in south China’s Guangdong province, bought 2.2 billion shares of at the cost of 39.8 billion yuan ($5.83 billion), claiming 20 percent of the bank [...]
China is requiring a down payment for land purchases equal to 50 percent of a plot’s price and prohibited the supply of land for villas as the government sought to increase affordable housing.
The down payment must be paid within a month of signing a contract for the land purchase, the Ministry of Land and Resources [...]
China’s new yuan-denominated lending in February stood at 700.1 billion yuan (102.65 billion U.S. dollars), half that of January’s 1.39 trillion yuan, the People’s Bank of China (PBOC, the central bank) said Thursday.
China’s yuan-denominated lending in 2009 hit a record 9.59 trillion yuan, almost double that of the previous year.
According to PBOC, as of the [...]
Agricultural Bank of China (ABC) has seen a 26.3 percent surge in its net profit for 2009 as the country’s third-largest lender reaped gains from the country’s rapid credit expansion and reform of its rural operations, said its chairman Xiang Junbo.
Tags: ABC, bank, China Finance
The parent of China’s Geely Automobile has secured financing to buy Ford-owned Volvo cars for about 15 billion Swedish crowns ($2.10 billion), a Swedish business daily reported on Wednesday.
Dagens Industri, citing sources, said that Chinese financial institutions and regional government bodies had provided the money for Geely to complete its purchase.
The paper quoted its source [...]
China’s 2009 investments in the real estate industry rose 16.1 percent to 3.6 trillion yuan ($527 billion), the country’s housing ministry said today in a report ahead of a press conference.
Sales increased 42.1 percent to 930 million square meters, the ministry said. The government will build 2.8 million housing units this year, ensuring that the [...]
