ABC SHANGHAI BRANCH TO CHARGE ANNUAL HOUSING CREDIT INSURANCE

AsiaInfo Services, August, 2005

AsiaInfo Services 08-31-2005 ABC Shanghai Branch to Charge Annual Housing Credit Insurance SHANGHAI, Aug 31, 2005 (SinoCast via COMTEX) -- The Shanghai branch of Agricultural Bank of China (ABC), one of the four largest state-owned banks in China, will charge the housing credit insurance calculated by year from September together with China Pacific Property Insurance Co., Ltd.

and TaiPing Insurance Company Ltd.The Shanghai branch of Industrial and Commercial Bank of China (ICBC), China's largest commercial bank, has launched such operation previously due to the depressed housing loan market.The traditional housing credit insurance is paid off at a time, which is a heavy burden for the customers, while the new payment method is conducive to the customers because of...

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