HSBC COOPERATES WITH ZHONGFANG IN MORGAGE LOANS

AsiaInfo Services, December, 2003

AsiaInfo Services 12-19-2003 HSBC Cooperates with Zhongfang in Morgage Loans SHANGHAI, Dec 19, 2003 (SinoCast via COMTEX) -- The HSBC announced in Hong Kong on December 5 that the bank would cooperate with Shanghai Zhongfang Real Estate Company in mortgage loans service of a real estate project for foreigners and residents of Hong Kong, Macao and Taiwan. The HSBC disclosed that the bank had submitted the application to the government and was waiting for the reply from regulatorsin late December. The bank will provide the mortgage loans in renminbi, HK dollarand US dollar.

The longest term of the loans is up to 20 years and the loans is 70% of the total price of the villa. The annual interest rate of the loans will be 1% lower than the benchmark interest rates...