Analysts debate the future of GMAC
Analysts quoted by The Wall Street Journal (WSJ) are suggesting that selling all or part of GMAC may not be a bad move for General Motors.
The great majority of Hong Kong exporters do not have credit insurance, but trade on an unsecured or letter-of-credit basis.
There are ten factoring companies in Hong Kong; they had a total turnover of Ђ3.25bn in 2003, according to Factors Chain International.
Late payments to Hong Kong businesses have dropped to a two-year low, according to a survey by Coface Frontline.
In a further sign of the continued recovery of the economy, late payments and defaults by Hong Kong businesses have dropped to the lowest levels since 2003 in the latest survey by Coface.
The Hong Kong Monetary Authority, the Hong Kong Association of Banks (HKAB) and two other organizations have jointly set up an agency that will collate information on the indebtedness and credit history of small- and medium-size enterprises (SMEs)
Small-to-medium businesses can now apply for a loan with HSBC by simply providing a copy of their MPF contribution statement and rental receipt.
Hammonds has expanded the capabilities in Asia with the appointment of partner Anthony Chan to its Hong Kong office, where he will be joined by a team of lawyers.
The talks over so-called "current account transactions" include the possibility of letting Hong Kong banks settle trade contracts denominated in renminbi and provide credit services related to renminbi-based letters of credit.