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Shanghai Daily,上海日报

Finance


China seeks more duty-free shops

CHINA will build more duty-free shops at entry-exit ports and also expand the categories of imported duty-free products to “meet rising demand,” the Ministry of Finance said yesterday. Shi Yaobin, vice ...

May 30, 2015, Saturday


Shares fall on investor worry over IPOs

SHANGHAI stocks closed slightly lower yesterday, while investors were worried that liquidity may be insufficient due to upcoming listings and stricter rules on margin financing. The Shanghai Composite ...

May 30, 2015, Saturday


Yahoo Japan surges on deal

JAPAN’S third largest online retailer Yahoo Japan Co jumped the most in two months in Tokyo trading yesterday after the company said it will team up with Chinese e-commerce giant Alibaba Group Holding ...

May 30, 2015, Saturday


JPMorgan to save US$5b by cutting jobs

US banking giant JPMorgan Chase will cut thousands of jobs in a cost-shaving program aimed at saving US$5 billion through 2017, a person close to the situation said. The largest US bank will eliminate ...

May 30, 2015, Saturday


Sri Lanka’s new body to review port city project

THE Sri Lankan government has appointed a fresh committee to study the possibility of continuing a multi-million dollar port city project in Colombo, an official said yesterday. Cabinet spokesperson Rajitha ...

May 29, 2015, Friday


Cinda offers US$7b in bad loans to investors

China Cinda Asset Management offered yesterday nearly US$7 billion in soured loans to investors in its largest-ever sale, underscoring government pressure on banks and asset managers to settle China’s...

May 29, 2015, Friday


Chinese banks’ custodial assets surge 54.7%

Total custodial assets of China’s banking industry surged last year as banks seek to expand the business and maintain profitability amid market-oriented interest rate reform. At the end of 2014, the industry’s ...

May 29, 2015, Friday


Shares fall 6.5% in record trade on margin lending rules, selloff

SHANGHAI stocks plunged from a more than seven-year high in record-high turnover yesterday after rising for eight straight trading days, as brokerages tightened rules over margin lending and investors ...

May 29, 2015, Friday


Sale of banks’ holding part of reform

Central Huijin Investment Ltd, a unit of China’s sovereign wealth fund, has sold 3.5 billion yuan (US$564 million) worth of shares in two of the country’s state-owned banks. The sale pushed reform in ...

May 29, 2015, Friday


Factory outlet sales surge in first 4 months

RETAIL sales at big factory outlets in Shanghai surged in the first four months of this year as more consumers became aware of such stores amid rising demand, the Shanghai Commerce Development Research ...

May 29, 2015, Friday


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