CITIC Group, the largest state-owned investment enterprise in China, announced Wednesday night it has agreed to provide an HK$11.6 billion standby loan to its ailing Hong Kong-listed arm CITIC Pacific<267> in exchange for convertible bonds of the same amount, in an effort to support the latter’s business operation, sources reported.
The bonds will be converted into [...]
China’s central government will contribute just over a quarter of the 4 trillion yuan ($586 billion) economic stimulus package aimed at sustaining growth amid the global financial crisis.
The central authorities will provide 1.18 trillion yuan to fund increased spending on railways, roads, healthcare and housing, Mu Hong, vice chairman of the nation’s top economic planning [...]
Hong Kong’s economy grew at the slowest pace since a disease epidemic in 2003, as the global financial crisis cut exports and spending cooled.
Gross domestic product rose 1.7 percent in the third quarter from a year earlier, the government said today at a press briefing, after gaining 4.2 percent in the previous three months. That [...]
China’s capital spending was slightly lower than expected in October, consistent with weakness in a batch of data this week as Beijing battles to keep the world’s fourth-largest economy from slowing too sharply.
Investment in urban areas in fixed assets such as roads and factories rose 27.2 percent in the first 10 months of the year [...]
Guangdong province, one of the nation’s key economic powerhouses, will spend 2.37 trillion yuan ($347 billion) on 222 items contained in 10 projects in the coming five years, the provincial development and reform commission said on Monday.
About 1.26 trillion yuan will go toward building expressways, extending railway tracks, refurbishing ports and airports, and building power [...]
Property firm SOHO China has said its investment in property next year will top the RMB8.8 billion ($1.29 billion) it will spend in 2008, as slumping prices provide buying opportunities.
Beijing was worried about a real estate bubble only a year ago when it clamped down on speculative buying. It reversed direction in October with cuts [...]
