Senior executive appointment in Mainland China
Dicky Yip, chief executive China Business of The Hongkong and Shanghai Banking
Corporation Limited has been appointed vice president of Bank of Communications.
Dicky Yip, chief executive China Business of The Hongkong and Shanghai Banking
Corporation Limited has been appointed vice president of Bank of Communications.
The central bank will not set up new policy banks to lend to small- and medium-sized enterprises (SME) and commercial banks will remain their main sources of funding, Wu Xiaoling, deputy governor of People's Bank of China, was quoted as saying.
The Asian Development Bank (ADB) signed a contract Friday with a Chinese firm to become a minority shareholder in China's leading private credit guarantee firm for small- and medium-sized enterprises (SMEs).
Siemens Financial Services (SFS) is expanding its financing business into the Chinese market. The company announced the launch of a proprietary leasing company in China, the “Siemens Finance and Leasing Ltd” (SFLL).
The Dalian Branch of the Export-Import Bank of China (China EXIM Bank), the only export-orientated policy bank in China, will provide a loan of CNY5m (US$600,000) for Liaoning's export-orientated companies this year, so as to promote the companies
Nearly a thousand small- and medium-sized private steel enterprises that have just gone out of the macro-control shade in 2004 will have harder days in 2005 due to policy discrimination and cost restraint.
North China's Tianjin Municipality plans to adopt preferential policies to help set up 1,000 new small and medium-sized technological businesses this year, which will create 10,000 jobs, according to the city's science and technology committee.
Surecomp, a leading provider of trade finance, factoring and reconciliation solutions for the banking and financial market, announced the opening of a sales, support and development center in Beijing, China.
China is going to completely open its leasing industry to foreign investors in the near future, said the Ministry of Commerce in Beijing.
The Export-Import Bank of China, a state export credit agency under the direct leadership of the State Council, saw fast growth in its all businesses in 2004. Bank loans for exports took up over 40% of the total.