According to the municipal government official, in addition to the 500-billion-yuan plan introduced last Friday, the government will launch a 160-billion-yuan ($23.4 billion) economic stimulus package. The plan was approved by Shanghai Han Zheng on Monday. It will be spent in the coming two years on such areas as transportation, scientific innovation, industrial upgrading, environmental protection and projects regarding the 2010 Shanghai World Expo.
The urban construction Read more…
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China Business, China Business News, China Economy, China Finance and Banking
China, government, package, plan, Shanghai, stimulus
Danish Prime Minister Anders Fogh Rasmussen said yesterday, “To strengthen the mutually beneficial partnership between China and Denmark, the China Action Plan will be launched.”
The plan consists of political dialogue and cooperation in scientific research, technological innovation, education, trade and investment, culture, tourism, energy, environmental protection and the fight against climate change. Read more…
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China Economy
boost, Denmark, improve, Shanghai, trade
According to the top manager of NASDAQ Group, the largest global exchange company the day before yesterday, they are trying to enter China’s stock market.
“We are contacting the China Securities Regulatory Commission and Shanghai Stock Exchange for a listing,” said Eric D. Landheer, head of Asia-Pacific at NASDAQ OMX Group. “And our commitments will continue despite the market turmoil.”
NASDAQ OMX Group is controlling and operating the NASDAQ stock exchange—the largest in Read more…
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China Economy
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Recently a sign of price decline appeared in Shanghai house market, even some luxury apartments in the city centre. Under such a situation, potential buyers decided to wait and see before making the purchasing decision.
Many potential buyers in Shanghai are expecting a further decline after the drop in Shenzhen housing prices, declining by nearly 30 percent in the first half. It is showed by the statistics from China Real Estate Index Academy that in Shanghai house market there is a sales drop of 27.6 percent from last year to 8.85 million sq m while a rise of 7.26 percent in housing price.
Hu Yinghua, a researcher at China Real Estate Index Academy, said that Shanghai’s real estate market was going through a mild revision period with the government attempting to maintain the property price stable with no fierce fluctuation.
Chen Wei, senior directors Read more…
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China Business, China Economy
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New regulations to give a impetus to more multinationals to establish their regional headquarters in Shanghai has been announced in a fresh bid to attract more quality overseas enterprises by the municipal government of Shanghai.
Based on the new rules, if a new-registered company, whether focused on investment or management, sets up its regional headquarters in Shanghai, it will gain financial Read more…
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China Business, China Economy
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According to Shanghai municipal statistics bureau, the city’s GDP grew 10.3 percent to 653.07 billion yuan in the first half of 2008, a whisker below the national growth rate of 10.4 percent in the same period, though the stock and property markets are depressed,
Cai Xuchu, the bureau’s chief economist and spokesman, said that the downturn of activities in the property sector weighed down the GDP growth rate by 0.4 percent while the bearish securities market did not made any contributions to Read more…
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China Economy
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Shanghai International Port (Group) Co, who operates the world’s second-busiest container harbor, said profit rose 23 percent last year as China’s trade growth boosted demand for sea transportation.
Net income rises to 3.64 billion yuan, or 0.17 yuan a share, from 2.97 billion yuan, or 0.14 yuan, a year earlier, announced by the company in a Shanghai Stock Exchange statement yesterday. Sales climbed to 16.3 billion yuan, up 27 percent.
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China Business, China Economy
China, container, harbor, port, Shanghai
With its throughput expected to grow 15 percent this year, Shanghai may overtake Singapore as the largest container port of the world. In 2008, boosted by Yangshan port’s third-phase expansion, throughput will exceed 30 million TEUs, said Chen Shuyuan, president of Shanghai International Port Group Co (SIPG), operator of China’s busiest container port.
Shanghai surpassed Hong Kong for the first time to be the second largest container port in 2007, behind Singapore. Its container volume reached 26.15 million TEUs last year, taking 20 percent growth. Singapore remains the largest container port in the world.
SIPG also intends to invest around 4.5 billion yuan in expansion—2 billion yuan will be spent on adding berths. But investment in the Yangshan project in excluded. Although no “concrete plans”, an overseas listing is also considered.
According to Read more…
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China Business, China Economy
China, overtake, port, Shanghai, Singapore
INVITATION FOR BID
The Government of the People’s Republic of China has received a loan from the International Bank for Reconstruction and Development towards the cost of Shanghai Urban Environment Project, APL2, and it intends to apply part of the proceeds of this loan to payments under the Contract BST2.3 – SUPPLY, INSTALLATION OF EQUIPMENT AND CIVIL WORKS FOR SLUDGE MECHANICAL CONDENSATION, DIGESTION Read more…
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Invitation for Bids China IFB
bid, Environment, project, Shanghai, Urban
Overseas Chinese has definitely has made considerable contribution to the city’s development through playing an active role in the funding of nearly half of the 28,000 foreign-invested companies in Shanghai.
The overseas Chinese birth or decent were high praised at a lately gathering in memory of the 30th anniversary of China’s reform and opening up to the outside world, for their deep love of their motherland. Read more…
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China Economy, Investment China
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According to the municipal government official, in addition to the 500-billion-yuan plan introduced last Friday, the government will launch a 160-billion-yuan ($23.4 billion) economic stimulus package. The plan was approved by Shanghai Han Zheng on Monday. It will be spent in the coming two years on such areas as transportation, scientific innovation, industrial upgrading, environmental protection and projects regarding the 2010 Shanghai World Expo.
