Other Briefings
China’s Securities Commission Orders Audit of All Foreign Financial Institutions
BEIJING, Oct. 10 – The China Securities Regulatory Commission has requested unofficial “audits” of all foreign financial institutions operating in the country, amid concerns that an overseas bank failure could lead to the global credit crisis spilling over the mainland. The decision also includes Hong Kong banks as well as international entities. CSRC has ordered […]
China Securities Regulatory Commission Suspends Chinese Share Offerings
BEIJING, Oct. 10 – In an attempt to boost already battered stocks, China’s financial regulatory body, the China Securities Regulatory Commission, has ceased reviewing applications for Chinese initial public offerings. Beijing has been attempting to boost the market in a number of ways, and over the past few months has cut stamp duties, limited the […]
China to Purchase More U.S. Treasuries to Support Global Economy
United States may have to pay price for Beijing intervention BEIJING, Oct. 9 – Banking sources in China have indicated to China Briefing News today that Beijing is likely to purchase still more U.S. debt to support the dollar and to help avert a U.S. and possible global downturn. China already holds approximately some US$1.27 […]
World’s Central Banks Cut Interest Rates
Oct. 9 – The world’s central banks cut short-term interest rates almost simultaneously in an effort to deal with the worsening global financial crisis. The central banks in the United States, the Euro zone, Britain, Brazil, Canada, Australia, Sweden and Switzerland cut short-term interest rates by a half percentage point, noting that “the recent intensification […]
All Foreign-Funded Companies in China to be Unionized by 2009
Oct. 8 – According to an official from the All-China Federation of Trade Unions (ACFTU), ninety percent of foreign-funded companies in China will be unionized by the end of this year; eventually all foreign-funded companies will have trade unions by 2009. Wang Ying, a division chief of the grassroots organizations and capacity for ACFTU told […]
Manzhouli: China’s Largest Inland Port of Entry
Oct. 7 – Although its name is obscure, Manzhouli is an important gateway for business in Inner Mongolia and receives 60 percent of all of China’s trade to and from Russia and the rest of Eastern Europe. It is the country’s largest inland port of entry. Manzhouli borders the Russian city of Zabaykalsk with a […]
China’s Golden Week Holiday Boosts Consumer Spending
Oct. 7 – According to the Chinese Ministry of Commerce, the October National Holiday boosted consumer spending and travel in the country to record levels. The weeklong holiday runs from September 29 to October 5 in commemoration of the anniversary of the founding of the People’s Republic of China in 1949. The government had lifted […]
Middle Eastern Investors Eye Xinjiang Regional Development
By Chris Devonshire-Ellis Oct. 6 – The extensive plans to develop trade links between Xinjiang and Central Asia have led Middle Eastern investors to become interested in assisting China in opening up the region to global trade. The stakes seem to be more than just about money. Moderate Islam has been under threat from insurgents […]
