┣━Industry━┫

CNOOC 2008 Net Profit Up 42 Percent

» China's top offshore oil and gas producer CNOOC Ltd. said its 2008 net profit rose 42 percent to record levels, driven by rising oil prices and increased production.

» Earnings per share rose to 0.99 yuan in 2008, against 0.72 in 2007.

» Oil and gas sales rose 38.1 percent to 100.8 billion yuan in 2008, a result of higher oil prices combined with increased oil and gas production.

Full article in Chinese: http://www.caijing.com.cn/2009-03-31/110131188.html

Domestic Passenger Air Travel Revives

» In the first two months this year, passenger travel in domestic air routes increased 18 percent from the same period last year, the first double digital rise since March 2008.

» With the coming of the peak tourist season between May and August, domestic airlines expect to see increasing passenger volume.

» But international route operation and freight volume remained on the decline in the first two months of the year.

Full article in Chinese: http://www.caijing.com.cn/2009-03-31/110131129.html

Chinalco Secures Loans for Rio Bid

» China Development Bank and the Export-Import Bank of China will each provide US$ 9.5 billion in loans to Chinalco to finance its US$ 19.5 billion investment in Rio Tinto.

» Two other commercial banks Agricultural Bank of China and the Bank of China will also give Chinalco US$ 1.2 billion and US$ 800 million worth of loans respectively.

» The loan term was set at 15 years, with lending rates set at sixth-month Libor rates plus 90 basis points of fixed interest margin.

Full article in Chinese: http://www.caijing.com.cn/2009-03-31/110131219.html

Feb Electricity Production Rises

» China's power generation increased 5.9 percent in February from the same period last year, the first rise since October 2008.

» In the first two months, Chinese power plants generated 488 billion kWh of electricity, down 11.3 percent year on year. Power consumption declined 5.2 percent.

» From January to February, China's power generation industry reported 3.3 billion yuan net profit, down 62 percent year on year.

Full article in Chinese: http://www.caijing.com.cn/2009-03-31/110130927.html

┣━Finance━┫

CSRC Releases Annual Supervision Report

» China's securities regulator CSRC on March 31 released its first annual supervision report.

» The report included information about CSRC's organizational structure and responsibilities, policies and regulations on China's securities market, an industry development report, market statistics, approval results, monitoring targets, as well as punishment decisions.

» The report issuance follows China's Government Information Publicity Regulations which were issued in April 2007 aimed at improving government transparency.

Full article in Chinese: http://www.caijing.com.cn/2009-03-31/110131218.html

Central Bank to Expand Scale of Financial Statistics

» China's Central Bank will further extend data collection in different economic aspects in order to closely monitor policy implementation and economic development.

» The bank will strengthen its monitoring and analysis of economic growth, market prices, balance of international payments and social employment.

Full article in Chinese: http://www.caijing.com.cn/2009-03-31/110131116.html

Regulator Expected to Expand Insurance Investment

» China's insurance regulator is expected to issue new policies to expand investments for insurance capital.

» Uncollateralized bonds and infrastructure investments are expected to be launched soon.

» Chinese insurance companies are being pressured to make better use of insurance capital amid the global financial crisis.

» By the end of February, the total assets of China's insurance industry reached 3.4 trillion yuan, more than 50 percent of which is invested in the bond market.

Full article in Chinese: http://www.caijing.com.cn/2009-03-31/110131097.html

┣━Politics & Law━┫

President Hu Jintao Leaves for G20

» Chinese president Hu Jintao left Beijing on April 1 to attend the London G20 Summit 2009.

» Other members on the trip include Vice Premier Wang Qishan and governor of the People’s Bank of China Zhou Xiaochuan.

Full article in Chinese: http://www.caijing.com.cn/2009-04-01/110131352.html

Chinese Premier Wen to Attend ASEAN Meetings

» Premier Wen Jiabao will visit Thailand from April 10 to 12 to attend the China-ASEAN summit.

» ASEAN, or the Association of Southeast Asian Nations, is a cooperation between ten Southeast Asian countries.

Full article in Chinese: http://www.caijing.com.cn/2009-03-31/110131096.html

China Mobile Sued for Abusing Market Status

» Beijing Dongcheng District People’s Court accepted a lawsuit on March 30, accusing China Mobile for abuse of its large market share.

» The plaintiff, Zhou Ze, one of China Mobile’s customers, accused China Mobile of illegally charging a monthly rental charge on top of its regular charges.

» China Mobile has 70 percent of the telecommunications market, which exceeds market dominance limits set by China’s anti-trust law.

Full article in Chinese: http://www.caijing.com.cn/2009-03-31/110130848.html