Other Briefings
Guangzhou Taxis Drive to M&A Consolidation
GUANGZHOU, Oct. 30 – The taxi service sector in Guangzhou could see consolidation ahead of the 2010 Asian Games, as the local government has made it known they would prefer the three large state-owned companies currently operating acquire their smaller peers. The move is aimed at improving the efficiency and service quality of the city multi-million dollar taxi […]
Shanghai Wants Free Exchange of Renminbi with New Taiwan Dollar
SHANGHAI, Oct. 28 – Shanghai’s Financial Service Office is pushing for a free exchange between the renminbi and the New Taiwan dollar to improve the city’s financial ties with Taiwan. The city already opened a cross-border currency clearing system and authorities expect the system to eventually include the Taiwanese currency due to burgeoning trade between […]
Hong Kong Authorities Move to Prevent Real Estate Bubble
HONG KONG, Oct. 26 – Hong Kong’s Monetary Authority released a circular aimed at tempering the territory’s hot high-end property market by increasing the minimum down payment on luxury homes from 30 percent to 40 percent effective immediately. This hopes to prevent the market from reaching unsustainable high prices after reports that a luxury flat […]
New Macau Visa Rules to Reduce Mainland Visitors
HONG KONG, Oct. 16 – Guangdong Province authorities are reportedly implementing new visa rules that would restrict mainland Chinese visits to casino haven, Macau, from once a month to once every two months. According to MarketWatch, Macau casino stocks ended lower yesterday when a report of the new visa rules came out and cited unidentified […]
Beijing Plans RMB50 Billion Animation City
Oct. 15 – Beijing is planning to raise RMB50 billion for an Animation and Game City inspired by Hollywood and Disneyland. Beijing has committed to provide RMB100 million yearly to support the project to attract the country’s emerging online game and internet companies like Sohugame, Linekong, NetEase, Tencent and Giant. The planned 83 hectare area […]
Shanghai, Hong Kong Airport Operators Partner to Manage Hongqiao Airport
Oct. 14 – The operators of the main international airports in Shanghai and Hong Kong have signed a joint venture to manage the Shanghai Hongqiao International Airport and make it highly competitive reports China Daily. Currently, the Hongqiao airport is mostly for domestic flights handling 22.9 million passengers and 415,700 tons of cargo last year. […]
China to Invest RMB468.9 Billion for Western Region Development
Oct. 14 – China plans to invest RMB468.9 billion in projects to further improve the development of its western region this year according to the National Development and Reform Commission (NDRC). Xinhua reports that the money will fund 18 projects that include railways, expressways, hydropower stations, shipping hubs, water control projects and airports in the […]
New High-Speed Railways Connect Wenzhou with Fuzhou, Ningbo
Oct. 9 – New high-speed passenger railway lines have recently opened linking Wenzhou city with Fuzhou and Ningbo and cutting travel time significantly. The Fuzhou-Wenzhou line is 298.4 kilometers long and cuts travel time from 5 hours to 2 hours. On the other hand, a second high-speed railway line also connects Wenzhou city to Ningbo. […]
