Other Briefings
Hong Kong Launches Measure to Support SMEs
Nov. 4 – The government of Hong Kong Special Administrative Region is set to implement the Loan Guarantee Scheme starting November 6 to help small and medium enterprises (SMEs) cope with the global credit crisis. Currently, ten participating lending institutions (PLI) are qualified to accept applications for the enhancement measures. The sub-ceilings for the Business […]
China to Provide RMB1 Billion Credit Guarantee for SMEs
Oct. 31 – According to the Ministry of Finance, China is providing a RMB1 billion credit guarantee for small and mid-sized enterprises (SMEs). This should ease their financing woes and help development. The RMB1 billion fund will be used to cover losses and risks of financial institutions that provide credit to SMEs. So far, the […]
China Issues Third Interest Rate Cut in Six Weeks
Oct. 30 – The People’s Bank of China said on its website that one-year benchmark lending and deposit rates will be lowered by 0.27 percentage points effective immediately. This marks China’s third interest rate cut in six weeks and is in conjunction with a new round of rate cuts happening around the world. The new […]
Beijing Cuts Tax and Mortgage Rates to Boost Real Estate Market
Oct. 23 – In a statement released on its website, the Ministry of Finance, said that starting next week it would reduce taxes on real estate and lower mortgage rates in an effort to boost the slumping housing sector. The property deed tax will be cut to 1 percent from 3 to 5 percent for […]
China to Raise Tax Rebates on Selected Export Goods
Oct. 22 – China’s Ministry of Finance said tax rebates on selected export products will be raised beginning November 1; to ease pressure on businesses affected by slowing export demand. This is the second time in three months that China has increased tax rebates for the export industry. Last August 1, tax rebates were increased […]
China’s Economy Expands by 9 Percent
Oct. 20 – China’s economy expanded by 9.9 percent in the first three quarters of this year, reports the National Bureau of Statistics, marking the first time in five years that China’s quarterly GDP growth fell below 10 percent. Bloomberg and the New York Times report that the economy only expanded by 9 percent. The […]
China’s Trade Surplus Declines by 2.6 Percent
Oct. 14 – According to China’s General Administration of Customs, trade surplus for the first nine months of the year declined by 2.6 percent to US$180.9 billion compared to last year’s figure. In September, import restrictions made to accommodate the Beijing Olympics and Paralympics boosted trade surplus by 23.1 percent to US$29.3 billion, a monthly […]
China Increases Refinancing Threshold
Oct. 10 – China’s securities regulator said publicly-traded companies will now be required to pay dividends in cash instead of stock, three years before filing their refinancing applications. The regulation should improve long-term investment and aid market volatility. The China Securities Regulatory Commission (CSRC) said: “The listed firms, if applying for refinancing, must pay dividends […]
