“‘Government and banking industry sources familiar with the situation’ who ‘declined to be named due to the highly sensitive nature of the matter,’ have been spilling the beans to the South China Morning Post. The central government, they said, is considering an ‘unofficial economic stimulus’ to prop up key economies like Shanghai. On the quiet! For that purpose, Agricultural Bank of China, one of the state-owned megabanks, inked a deal to lend the city of Shanghai 250 billion yuan (about $41 billion) for a number of big construction projects, the sources said. The loan would amount to 12.5% of Shanghai’s 2012 GDP.”
Related posts:
Louisiana: Jefferson Parish To Refund Red Light Camera Tickets
ACLU Announces Settlement in “Highway Robbery” Cases in Texas
Kansas Law: No More Government Money Promoting Gun Control
Massachusetts: Police Cannot Search Nervous Motorists
Canada's Marc Emery is a Man on a Mission
U.S. Implements 4th of July ‘No Refusal’ Blood-Draw DUI Checkpoints
Dentists vs. Smiles
Family Farmers Fight Michigan Township For Their Animals
How Big Was the Tax Hike for Everyone Earning a Paycheck?
Exchange Platform Safello Builds Sweden’s First Bitcoin ATM
Expedia - Vacation Deprivation Key Statistics
Airlines Change the Carry on Rules
California Chefs, Bartenders Now Forced To Wear Gloves
The Rise of Mass Knife Attacks Around The World
California Gov. Shuts Down Luxury Bus for Techies