Date
22 April 2019

Business

  • Bank insider admits Yu E Bao has moved market, CNS says

    Oct 29, 2013 8:14am
    Alibaba Group Holding Ltd.’s money market fund, Yu E Bao, has already had a big impact on banking, China News Service reported Monday, citing Yu Jiongling, the Zhejiang branch head of Bank of Communications Co. Ltd....
  • Chinese firm secures Boeing 737 Max parts contract, paper says

    Oct 29, 2013 7:55am
      The Boeing Company has signed a multi-year contract with Aviation Industry Corporation of China (AVIC) for procurement of inboard flaps for the Boeing 737 Max aircraft, China Daily reported Monday, citing an announcement by the...
  • Tonic raises HK$1.92 bln in private placement, filing says

    Oct 29, 2013 7:38am
    Consumer electronics maker and retailer Tonic Industries Holdings Ltd. (00978.HK) sold about 940 million new shares through private placement on Tuesday at the price of HK$2.05 (US 26 cents) per share, a 22.3 percent discount compared...
  • Rise of web-based insurers changes non-life insurance ecology

    Oct 29, 2013 7:30am
    Non-life insurers saw an average 20 percent earnings growth in the first three quarters, according to the China Insurance Regulatory Commission. Although that’s a decent expansion clip, the rise of web-based players is posing an increasing threat...
  • Realty sector rolling in dough as Shanghai FTZ craze catches on

    - Oct 29, 2013 7:28am
    The unit price of a nondescript office building in Waigaoqiao {外高橋}, Shanghai’s faraway suburban district that is close to virtually nothing but some container berths, can skyrocket almost threefold within just two months to 35,000 yuan...
  • Net profit up at China Everbright Bank, paper says

    Oct 29, 2013 7:01am
    China Everbright Bank Co., Ltd. (601818.CN) said Monday that it made 21.7 billion yuan (US$3.566 billion) in net profit in the first nine months, a rise of 13.87 percent year on year, the Economic Information Daily...
  • Govt to unveil action plan on prefab homes in 2014, paper says

    Oct 29, 2013 6:53am
    The national housing authority will unveil next year an action plan to promote prefabricated construction of residential projects, the China Securities Journal reported Tuesday, citing an unnamed official. The policy is likely to be piloted in...
  • Chongqing Rural Commercial Bank 3Q profit up 12.7%, filing says

    Oct 29, 2013 6:52am
    Chongqing Rural Commercial Bank Co. Ltd. (03618.HK) posted on Monday a net profit of 1.53 billion yuan (US$251.4 million) for the three months to September, up 12.7 percent from a year earlier but down 4.4 percent...
  • Suning invests in video website PPTV, paper says

    Oct 29, 2013 6:28am
    Suning Commerce Group Co. Ltd. (002024.CN), the country’s largest electronic products retailer, will invest US$420 million in video website PPTV.com, along with private-equity firm Hony Capital Ltd., to further integrate its resources in content and distribution...
  • Vanke to put HK$3 bln in Huishang Bank IPO, HKEJ says

    Oct 29, 2013 6:16am
    Property developer China Vanke Co. Ltd. (000002.CN) will invest more than HK$3 billion (US$386.92 million) in Huishang Bank Co., Ltd.’s initial public offering, becoming a cornerstone investor and its largest shareholder after the IPO, the Hong...
  • Cloud technology poses risk to internal data, expert says

    Oct 28, 2013 7:20pm
    Cloud computing and mobile technology are the top risks companies face in their internal audit because sensitive data may get exposed, Richard Chambers, president and chief executive of the Institute of Internal Auditors, said. Internal auditors...
  • Sohu posts US$65 mln net loss in 3Q, statement says

    Oct 28, 2013 6:10pm
    Sohu.com Inc. (SOHU.US), a Chinese online media company, recorded a net loss of US$65 million for the three months to September after paying a special dividend of US$82 million to shareholders of Sogou, its search engine unit. Total revenue...
  • New armor to protect e-shoppers, consumer group says

    Oct 28, 2013 6:06pm
    Revised regulations approved last week to protect consumer rights will help reduce conflicts in the e-commerce market, an industry group said Monday. “We have noticed that online consumption is developing very rapidly. At the same time,...
  • HSI rebounds after four-day losing streak

    Oct 28, 2013 5:19pm
    Hong Kong’s benchmark Hang Seng Index ended a four-day losing run to end at 22,806 points Monday, up 108 points. The Hang Seng China Enterprises Index finished 80 points higher at 10,258. The Shanghai Composite Index...
  • Yu E Bao’s AUM grow 10-fold in 3Q, statement says

    Oct 28, 2013 3:09pm
    Alibaba’s money market fund, Yu E Bao, had 55.6 billion yuan (US$9.14 billion) in assets under management as of the end of September, an almost 10-fold increase on the amount at the end of June, Alibaba Group...
  • China Telecom Jan-Sept net profit up 17.1%, filing says

    Oct 28, 2013 3:00pm
    China Telecom Corp. Ltd. (00728.HK) posted a net profit of 14.71 billion yuan (US$2.42 billion) for the nine months to September, up 17.1 percent from the same time last year, according to a stock exchange filing...
  • Local govt debts seen at more than 14 trln yuan, report says

    Oct 28, 2013 1:53pm
    Local governments in China have debts worth at least 14 trillion yuan (US$2.3 trillion), Caijing magazine reported Monday, citing a researcher from the Ministry of Finance (MoF). The amount has increased when compared with the figure...
  • PBoC expands personal online credit report service, paper says

    Oct 28, 2013 1:18pm
    The People’s Bank of China (PBoC) has added six cities and provinces to a trial scheme for personal online credit reports, People’s Daily reported Monday. Users can log on to a website (https://ipcrs.pbccrc.org.cn) to apply for...
  • Tianjin shuts, halts 440 heavy polluters, Xinhua says

    Oct 28, 2013 12:29pm
    Tianjin has ordered 440 heavy-polluting factories to close or halt production so far this year, Xinhua reported late Sunday, citing the city’s environmental protection authority. To curb air pollution, the city will also eliminate 3.69 million...
  • Rubber industry calls for waiver of import tariffs, paper says

    Oct 28, 2013 12:22pm
    The rubber industry has asked the National Development and Reform Commission to waive the 20 percent import tariff on rubber for tire manufacturing, the National Business Daily reported Monday. According to customs figures, China imports 90 percent...

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