China’s fifth-biggest automaker said a new company will be set up this month to facilitate the listing plan.
BAIC said in August it would take over smaller rival Guangzhou Baolong, securing a foothold in the competitive southern China market.
Source : Konaxis
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China Raises Mortgage Rates(0)China raised mortgage rates by 25 basis points on Sunday, the Ministry of Housing and Urban-Rural Development said, the second increase this year, after benchmark interest rates increased on Saturday, reported Sunday’s Reuters. |
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China to Boost Minimum Wage(0)China plans to increase its minimum wage by at least 20 percent annually in the next five years, more than doubling it by 2015, to increase spending power and consumption, the South China Morning Post said Monday, citing Huang Mengfu, a government adviser. |
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China Will Expand Cross-Border Yuan(0)China will allow more regions and companies to settle cross-border trade in the yuan and boost offshore usage of the currency, the central bank said Friday, reported Bloomberg. |
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Bain Converts Gome Electrical Bonds(0)Bain Capital LLC converted its 1.59 billion yuan ($236 million) bondholding in Gome Electrical Appliances Holdings Ltd. into a 9.98 percent equity stake, gaining votes at a shareholders? meeting this month, reported Wednesday’s Bloomberg. |
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Limits on Foreign Investment(0)China is currently in the process of revising its foreign investment catalogue to expand the number of sectors for which foreign investment is encouraged or permitted, a senior official said Monday, reported Reuters. |
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