China Economic ReviewVice Minister of Commerce Ma Xiuhong said that 2004 foreign direct investment (FDI) will likely be on par with last year's US$53.5 billion due to economic cooling measures taken this year. The government has limited investment in the steel, cement and aluminum sectors, which were overheated. In the first five months of this year, FDI […]
Ministry of Commerce officials said that the increase in investment in northeastern provinces was not excessive and reflected the actual growth going on there. In the first five months of the year, Heilongjiang, Jilin and Liaoning provinces reported increases in actual foreign direct investment (FDI) of 28%, 30% and 43% respectively. National FDI grew 11.3% […]
Citigroup, Standard Chartered Bank, Bank of Tokyo-Mitsubishi and Mizuho Financial Group look set to win derivatives trading licenses, said a banker quoting a China Banking Regulatory Commission source. HSBC said its application has already been approved. BNP Paribas, Societe Generale, and other banks have applied for licenses. Regulators had allowed only domestic banks in the […]
Hong Kong Monetary Authority (HKMA) chief executive Joseph Yam hinted that the Special Administrative Region's Exchange Fund sustained big losses in volatile markets over April and May. He did not go into details. In May, Yam said the US$2.15 billion gained in 2004's first quarter had been wiped out in the April downturn.
The Shanghai municipal government will decide by year end how private companies participate in Yangshan Port Phase II development. Wharf (Holdings), Hutchison Whampoa, Cosco Pacific and Orient Overseas (International) are each bidding for a piece of the pie, according to Zhang Huimin, executive deputy general director of Shanghai Deepwater Port Construction, the agency in charge. […]