China Economic ReviewChina is drafting new regulations that could restrict expansion of foreign retail giants like France's Carrefour and US-based Wal- Mart, according to state media. Foreign retailers have been aggressively expanding in China in recent years leading the government to worry about possible overheating and foreign domination. Reports said that foreign companies that have "violated Chinese […]
While most interest among foreign banks is in developing export factoring, the deal that did most to publicise factoring in China last year involved slow moving receivables on the domestic market. In fact, the transaction did not actually represent a true factoring deal. Jiangsu-based joint venture Nanjing Ericsson had repaid US$240m-worth of loans borrowed from […]
Shanghai-based Baoshan Iron & Steel said it plans to invest Yn12bn on new production lines. Half of the amount will be spent on equipment to produce cold-rolled coil, used for car panels, and the rest on rolling and casting machines for heavy plate. Both lines are due to be completed in 2005. The investment would […]
From the end of last year, tourists from Hong Kong and Macau no longer need 'identity confirmation letters' when travelling in Tibet. There was also an ending of the requirement that foreigners must travel in a group of five or more, reported Xinhua. Tibet received 850,000 visitors in 2002, up by nearly a quarter on […]
China's income from tourism was predicted to reach Yn600bn in 2003, an increase of 8.5 per cent on last year. The China National Tourism Administration has a foreign tourism revenue target of US$21.5bn. An estimated 900m domestic travellers would generate income of Yn425bn. This year, the administration is targeting inbound tourism from the US, Germany […]