China Economic ReviewAgence France-Presse, quoting customs data, said China exported Christmas products worth US$1.6bn in 2003, more than half that amount going to the United States. But AFP said Christmas-related exports in the first nine months of 2004 amounted to only US$850m, US$510m of that generated by factories in Guangdong province. The agency said that 70% of […]
In what was seen as his first public rebuke of Hong Kong's Chief Executive, Chinese President Hu Jintao said Tung Chee Hwa's administration should consider "Hong Kong's overall and long-term interest and the interest of the nation" and "strive to improve livelihoods and push ahead with economic development, and maintain social stability." Hu made the […]
Reuters reported that police today detained Chairman Zheng Junhuai, Chief Financial Officer Zhang Xianzhu and Securities Representative Li Yongping of dairy giant Inner Mongolia Yili Industrial Group, though no explanation was given. News that the company was being investigated sent the Shanghai-listed stock plunging 10% as soon as the market opened Monday. A South China […]
The China Banking Regulatory Commission issued a consultation paper urging banks to set up independent departments to tighten risk management processes — especially in regard to commodity, stock and forex markets — and report back on a regular basis. The commission said banks should also keep separate books to track their core deposit-taking and lending […]
Aiming to raise group revenues by more than 50%, Guo Xin Group said it will take a 60% stake in gaming company Gainnew Group, which manages gambling and settlement operations for a casino on the liner Omar III. Guo Xin said it would pay HK$96m (US$12.3m), HK$50m of that in cash, the balance in convertible […]