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China’s growing appetite for foreign goods is staggering and California is racing to meet the challenge. Fueled by Governor Brown’s whirlwind trip to six Chinese cities last April, a follow up trip took place in May by the California Asian Pacific Chamber of Commerce (CalAsian Chamber) and officials within the City of Sacramento.
Having the privilege of participating with the CalAsian Chamber delegation, I joined Pat Fong Kushida (President of CalAsian Chamber) and Margaret Wong (President of McWong International), along with elected officials and many other business leaders on our first stop in Shanghai. Here, we visited the brand new California-China Office of Trade and Investment, which is operated by the Bay Area Council. It is the first foreign trade office California has re-opened since all were shut down in 2003.
Shanghai Tower (left) – second tallest building in the world, 2073 feet tall, 121 stories, 4 million SF
Aldermore Commercial Mortgages exceeds expectations
Intermediaries using the lender for commercial deals since this time last year said the lender’s success was due to “sensible” lending decisions and open lines of communication with the broker community.
Read more on Mortgage Introducer
Interest rates creep lower
VietNamNet Bridge – As inflationary fears ease, bankers expect the deposit interest rate to settle at ten percent per annum and lending interest rates to creep down toward the twelve percent range.
Read more on Vietnam Net
MONEY & BANKING
MONETARY POLICY: RBI hikes key policy rates by 25 bps to tame inflation Banks may hike deposit, not loan, rates first. The Reserve Bank of India on Friday took yet another baby step to stem the rising inflationary tide.
Read more on The Hindu
(AFX UK Focus) 2010-07-02 12:59 China c.bank issued extra bills in June, data show
SHANGHAI, July 2 (Reuters) – China’s central bank issued 360 billion yuan ($53 billion) in bills in June in addition to issuance in its open market operations, calculations from official data showed, apparently aiming to prevent a large volume of maturing special bills from flooding the market with cash. Two banking sources said the extra bills had likely been sold to Industrial and Commercial …
Read more on Interactive Investor
Fed’s Duke says bank lending dropping, may lag for years
U.S. bank lending continues to decline even though the banking sector is recovering, and it may be years before lending returns to pre-crisis levels, Federal Reserve Governor Elizabeth Duke said on Wednesday.
Read more on Reuters via Yahoo! News
West Coast Bank Expands Commercial Banking Team in Lane County
West Coast Bank has hired Shanna L. Reichenberger to lead their Lane County Commercial Banking team as Vice President â Team Leader. She will work with commercial banking clients to provide lending, depository and treasury management products and services from her office at the Eugene North branch, 1005 Green Acres Road.
Read more on PR Newswire via Yahoo! Finance
HSBC snaps up RBS banking assets in India
Asia-focused bank HSBC on Friday bought the Indian commercial and retail banking assets of British state-controlled Royal Bank of Scotland, expanding its footprint in the emerging market nation.
Read more on AFP via Yahoo! News
Bank of China to raise $8.9B as lenders replenish capital after lending boom
BEIJING, China – Bank of China Ltd. announced Friday it will raise up to 60 billion yuan (US$8.9 billion) in a new effort by a major Chinese state-owned lender to replenish capital following last year’s lending boom.
Read more on The Canadian Press via Yahoo! Canada News