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Nanjing banks tighten mortgage loans The cash squeeze in the interbank system is rippling out across the residential property market, as many commercial banks in Nanjing have called a stop to giving mortgage loans for properties that were occupied and have been put up for sale.迷你倉價錢 A number of Nanjing banks have suspended accepting mortgage loan applications for pre-owned apartments, the National Business Daily reported on Wednesday. The application process for eligible first-time homebuyers has been extended to more than one month from one week, implying commercial banks are tightening credit, a realty expert said.Mining companies buried under mounting invoices Accounts receivable for China's major coal companies reached 330.8 billion yuan ($54.03 billion) at the end of June, the highest level over the past decade, official industry figures showed. According to the China National Coal Association, rising accounts receivable are a widespread problem for domestic coal mining companies because many of their customers are not paying them on time. From January to July, total profit from coal mining tumbled 43.8 percent year-on-year, extending a downward trend that began in March, the National Bureau of Statistics said.Beijing banks cancel discount mortgages Commercial banks in Beijing have apparently stopped providing discounts for mortgage loans, with some even hiking mortgage rates by 20 percent on top of the benchmark interest rate, sources said. "We can accept your application, but cannot promise if we will lend," this is the message one potential home-buyer said he was told by several banks when he tried to obtain a mortgage for his first home, the Legal Evening News reported on Tuesday. The newspaper also found that discounts for first-time homebuyers no longer exist, and the application procedure has been extended to two months or longer from two weeks.Pharmaceutical company Simcere sold for $495.4m China's Simcere Pharmaceutical Group said it agreed to be bought by a consortium that includes its founder and chairman Jinsheng Ren in a deal worth $495.4 million. The company said it will receive $9.66 per American depositary share, or ADS, representing a premium of about 3 perc迷你倉nt over Tuesday's close on the New York Stock Exchange. The consortium already owns about 78 percent of Simcere's outstanding shares and had made an offer worth $9.56 per ADS to buy the company on March 11.Sanyuan Group posts 38m yuan loss in first half Sanyuan Group suffered a loss of 38 million yuan ($6.21 million) in the first half of the year. The Beijing-based dairy group's revenue grew by about 1.8 billion yuan in the first half, a year-on-year increase of 9.35 percent. But its net profit shrunk by 72 million, according to a report released by the group. The loss was caused by market factors, the rise in the cost of raw materials and the decline in investment income, the group said. Only one of Sanyuan Group's five subsidiaries made a profit. The other four - Sanlu Group, Taizi Dairy Group, Shanghai Sanyuan Group and Hulun Buir Sanyuan Group - all reported losses.Samsung launches first TD-LTE smartphone Samsung Electronics Co Ltd on Wednesday launched the first smartphone supporting a Chinese-developed fourth generation, or 4G, telecommunication standard. The Galaxy Note II N7108D, the first Samsung smartphone that can run on a Time Division-Long Term Evolution, or TD-LTE, 4G mobile network, will hit the Chinese market next month, Cui Xiaodong, general manager of Samsung China's mobile telecommunication department, said at a Beijing news conference. Cui said Samsung will launch more TD-LTE mobile phones in the second half and they will target high-, medium- and low-end users.NDRC shifts focus to policy guidelines on bond issues The National Development and Reform Commission will delegate pre-qualification work for corporate bonds to provincial institutions as it focuses on policy guidelines and business training. The top economic planner also tightened regulations covering corporate bond issuance. A document from the NDRC clarified that the provincial management institutions should finish pre-approval for companies seeking to issue bonds within 15 working days, before handing the application to the top planner. "The NDRC can flexibly control bond issuing within a reasonable scale, based on macroeconomic conditions and the financial situation," it said.China Daily-Reuters新蒲崗迷你倉