Pudong New Area
With an aggressive goal to turn into the heart of Shanghai’s and even the country’s outsourcing business, the Pudong New Area makes great effort to develop himself into a place with the best outsourcing environment, which would be an irresistible attraction for countless outsourcing firms and talent, an excellent architect of competitiveness, and Read more…
Popularity: 4% [?]
Representatives from 28 financial institutions in Shanghai left for the United Kingdom and the United States so as to recruit professionals.
At a regular press briefing, the government said around 170 senior positions are being offered in the financial institutions including banks, fund, and asset management companies. While in the non-financial sector, more than 1,000 positions are being offered. In London, Chicago, and New York, three recruitment booths Read more…
Popularity: 2% [?]
A raft of measures to encourage lending by financial institutions to infrastructure projects, small businesses and potential home and car buyers was unveiled by the government the day before yesterday.
Also, the three policy banks will get 100 billion yuan ($14.6 billion) from the government to prop up economic growth during the worsening global financial crisis.
When chairing an executive meeting of the State Council, or the Cabinet, Premier Wen Jiabao also said they will take steps to help economy over the crisis.
Popularity: 2% [?]
After the sharp fall to surge more than 6 percent yesterday, the major mainland index began to rally, mainly boosted by heavy weight stocks in the energy and financial sectors.
The benchmark Shanghai Composite Index and Shenzhen Component Index both soared several percent especially Shanghai Composite Index had 884 stocks closing higher.
The amount of the combined Read more…
Popularity: 3% [?]
China and the United Kingdom are poised to enhance cooperation in financial sectors, said Vice Premier Wang Qishan and the UK Chancellor of the Exchequer Alistair Darling at the first China-UK Economic and Financial Dialogue in Beijing.
Concluding his meeting with Wang, Darling said that the UK welcomes the creation of the Chinese sovereign wealth fund and its potential for investing in Britain. “Both countries recognize the importance of actually participating in the current discussions taking place in the international institutions on the issues between sovereign wealth funds and recipient countries to achieve better cooperation on a mutually open basis,” he said.
Wang, on the part of China, said the country also welcomes investments from UK financial institutions and particularly encourages them to explore potential markets in central and western China. Furthermore, he pointed out that confronted with the current international situation triggered by the US subprime mortgage crises, the two sides should also strengthen cooperation between financial regulatory institutions.
The two sides have already begun discussing “financing for sustainable development” as a potential theme for the next 3-year program of the China-UK sustainable development dialogue.
Popularity: 2% [?]
At the first Finance Forum of the Yangtz River Delta, jointly held by the governments of Shanghai and Jiangsu and Zhejiang provinces and the People’s Bank of China (PBOC), 14 city commercial banks signed a strategic cooperation agreement on April 21, to strengthen cooperation in monetary transactions, settlement services, product innovation and risk management. These banks are: the Bank of Jiangsu, the Bank of Shanghai, the Shanghai-listed Bank of Nanjing, and other city banks based in surrounding areas, including Ningbo, Hangzhou and Wenzhou.
The aim of this integration is to build a platform for institutional coordination in the banking system, and thus accelerate the already booming economy of southeast China’s economic centre. In different cities, each bank has its own information and finance systems and promotes its own credit card. It has not only caused an enormous waste of resources, but also hindered the growth of the banking industry. The forum, as an external guidance and regulation, helps to build up the financial environment and conditions necessary for the further cooperation.
Four state-owned commercial banks, including the Bank of China, the Industrial and Commercial Bank of China, China Construction Bank and the Agricultural Bank of China, have already initiated “cross-region business”, with each bank coordinating its own banking transactions in different provinces and cities.
Popularity: 2% [?]
Shanghai Financial Information Service Industrial Park
The founding of the Shanghai Financial Information Service Industrial Park is a decisive point in the national strategy in turning Shanghai into a global financial center, and is also one of the essential professional foundation in the Zhangjiang High-tech Park which , in the light Read more…
Popularity: 3% [?]
