China Economic ReviewChina set a target of 7% economic growth for 2004, down from 2003’s projected rate of 8.5%. The State Development and Reform Commission (SDRC) said the government’s goal of slowing the pace of GDP growth was aimed at cultivating a “scientific approach” to social development that placed more emphasis on indicators such as education, health, […]
The Bank of China (BOC), one of the nation’s ‘big four’ State-owned commercial banks, said it has scheduled its initial public offering (IPO) for 2005, one year before the market is fully opened to foreign competitors. The bank already has a listed unit in Hong Kong but still has a lot of work to do […]
German Chancellor Gerhard Schroeder’s proposal to resume arms sales to China touched off a furious political debate, even within Germany’s governing majority. The Chancellor’s own party criticized the move in light of the recent tensions across the Taiwan Straits. During a state visit to Beijing, Chancellor Schroeder said that he would work towards lifting the […]
The World Bank announced it would provide Guangdong province with loans worth US$1 billion over the next eight years for curbing water pollution in the Pearl River. The money would mainly go towards the construction of sewage treatment plants and solid rubbish disposal facilities in major Pearl River Delta cities. Of the World Bank loans, […]
Air China invited bids from investment banks for an initial public offering (IPO) in Hong Kong that could raise up to US$500 million in 2004. Air China, the country’s largest airline in terms of assets, had initially planned to list in 2002 but postponed the IPO to 2004. The company did not give a reason […]