Examples of PRC in a sentence
Beijing Wanhu is a non wholly-owned subsidiary of the Company undertaking the development of Beijing Fortune Garden, a real estate development project situated in Xibeiwang Town, Haidian District, Beijing, the PRC.
REASONS FOR AND BENEFITS OF THE DISPOSAL AND INTENDED USE OF PROCEEDS The Company is an investment holding company and the Group is principally engaged in property development and hotel business in the PRC.
Beijing Wanhu shall charge interest on loans granted to MLIML (or its designated wholly-owned subsidiary in the PRC) and Beijing Vanke pursuant to the Agreement with reference to the benchmark interest rate to be announced by the People’s Bank of China from time to time.
The Board wishes to announce that on 4 August 2015, Beijing Wanhu entered into the Supplemental Agreement with MLIML and Beijing Vanke pursuant to which Beijing Wanhu shall charge interest on loans granted to MLIML (or its designated wholly-owned subsidiary in the PRC) and Beijing Vanke pursuant to the Agreement with reference to the benchmark interest rate to be announced by the People’s Bank of China from time to time.
However in 2019, while the Group was waiting for such plot ratio revision approval, the PRC economy took a downward turn and was faced with huge uncertainties such as the China-US trade wars.