As a senior railway official said on March 24, 2009, the two high-speed railways that opened on April 1 amazingly shortened the travel time between the hinterland and the coastal areas.
The Hefei-Wuhan passenger railway and the Hefei-Nanjing lines, which opened last year offered the shortest link between Central China and Yangtze River Delta region of East China. Both of them last over 350km. Read more…
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China, economy, official, passenger, rails, travel
Qin Tian had lost 6,000 RMB ($882) before he got the warning that swindlers could get his money off his credit card magically without even touching his card.
At first, Qin suspected it was due to the insecurity of the bank to have his information leaked, but then he realized it was his own negligence to give out his own information through phone. The scammer claimed to be a bank employee, but only he was not. Read more…
Popularity: 1% [?]
bank, China, credit card, economy, information, security
Over half of almost 800 wealthy Chinese who have been surveyed hold the opinion that the growing financial disparity between the rich and the poor also leads to the appearance of an upper class in the country.
Best Life, a life style magazine, carried out the survey, interviewing 792 wealthy Chinese in 62 cities from 27 provinces with the help of local chambers of commerce. The interviewed people were private entrepreneurs possessing property of over 10 million Yuan, i.e. 1.4 million dollars. The magazine said in June, over Read more…
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China, city, crisis, economy, property, province
The meeting of the finance ministers and central bank chiefs of G20 countries in March drew great attention. That’s because of the great influence of the global financial crisis.
The most important thing discussed at the meeting was how to deal with the financial crisis, rebuild the present financial system and reform the international financial organs. Read more…
Popularity: 1% [?]
China, crisis, economy, G20, IMF, influence, reform
Yang Chao, Chairman of China Life Insurance Co Ltd, said yesterday that the company plans to have a try at the property market to diversify its investment lay out. He said China Life would seek to invest in infrastructure, equity, fixed-income securities and the property market.
According to Yang, China Insurance Regulatory Commission is expected to permit insurers to invest in infrastructure and real estate soon and is drawing up guidelines concerning it. China Life is waiting for the inaction of these regulations and making preparations for their Read more…
Popularity: 3% [?]
China, economy, industry, insurer, investment, market, risk
According to a PricewaterhouseCoopers (PwC) report, because of more Chinese Financial institutions expanding their business, the financial services M&As in Asia will be more active.
215 senior financial services executive, of which 20% come from the Chinese mainland and Hong Kong, finished the survey.
The survey showed that comparing with 2008, the figure of respondents intending to make an acquisition increases 4% this year. Most Chinese mainland and Taiwan respondents like to use M&A deals.
Nelson Lou, transaction partner, PwC, said that the keenness in China should owe to stronger balance sheets and fewer use of outbound M&A activity in the past few years. Read more…
Popularity: 3% [?]
Asia, business, China, economy, Hong Kong, M&A, service
On the day Mar, 27th, 2009, Mountain Partners Group (MPG), which is a Swiss investment company, announced that they would build the first institutionalized angle fund in China focusing on the new but potential corporations. Read more…
Popularity: 4% [?]
China, company, economy, fund, investment, MPG, Swiss
Thanks to the help of US taxpayers and China’s government, General Motors Corp can continue its business, for GM gets a $13.4 billion loan from US taxpayer and $1,170 subsidies from the latter one.
As a result of cut in retail taxes on small vehicles, GM’s minivan venture sales in China have had a 32% rise in the first 2 months. Recently, the government is giving out 5 billion yuan in subsidies in order to promote the auto sales in countryside.
Because of the tax cut and subsidies, GM predicted that it would enjoy a double growth in China. However, in the US market, it saw a 51% slide in the sales, which forced GM to ask for about $16.6 billion aid from government. Read more…
Popularity: 4% [?]
business, China, economy, government, loan, tax, U.S.
The largest computer maker in China—Lenovo has reorganized its regional operations into two business groups, at the same time, it has also established two product groups to deal with the global financial crisis.
It is said that Lenovo will focus on the developed and emerging market, Milko Van Duijl, Lenovo’s president in EMEA (Europe, the Middle East and Africa) region, will be in charge of the mature market group, such as United States, Japan and Australia market.
In addition, the emerging market which Read more…
Popularity: 3% [?]
business, China, computer, economy, Lenovo, operation, product
A top government think-tank warned that China is likely to suffer from the rising trade protectionism against the backdrop of the worsening financial crisis.
In accordance with the report by the Development Research Center of the State Council, China will become the main objective of trade protectionism, and this behavior will make the exporting environment worse in China.
The nation’s export sector Read more…
Popularity: 4% [?]
China, crisis, economy, export, import, protectionism, trade
As a senior railway official said on March 24, 2009, the two high-speed railways that opened on April 1 amazingly shortened the travel time between the hinterland and the coastal areas. 
