China Development Bank Backs up Guangdong Projects 

The Guangdong Foreign Economic and Trade Bureau signed a strategic cooperation agreement with the Guangdong branch of the China Development Bank yesterday (November 24). The two sides will jointly promote Guangdong's companies to invest overseas and introduce needed resources, technologies and equipment to China. 

Relaxed Policies to Boost Development of SMEs

The Guangzhou government approved a series of policies to support the development of small and medium-size enterprise (SMEs) yesterday (November 24). These policies involve relaxing market access, providing financing guarantees, and relieving companies' burdens. There are currently over 400,000 SMEs in Guangzhou, over 70% of which are engaged in foreign trade. 

China Construction Bank Reduced Down Payment to 20%

China Construction Bank announced it will lower its commercial mortgage rates, while reducing down payments to stimulate demand for housing. Eligible buyers will see commercial mortgage rates cut to 70% of the benchmark level and the minimum down payment lowered to 20% of the house price.

Food Festival Kicks off at Grandview Plaza

Food lovers are able to taste various cantonese delicacies as the 22nd Guangzhou International Food Festival kicked off yesterday in Tianhe's Grandview Plaza. In addition to the main venue at the Grandview Plaza, 30 other sub-venues are spread throughout the city. Smart travel agencies also specially design a one day tour for visitors to enjoy Guangzhou food which has already attracted 300 applicants. The festival will last until December 5th.