┣━Industry━┫

CNPC to Bid for Repsol YPF's Argentinean Unit
» China National Petroleum Corp. (CNPC) plans to make a US$17 billion bid for a 5 percent stake in the Argentinean unit of Spanish oil company Repsol-YPF.
» Another Chinese oil firm, CNOOC, has also shown the interest in investing in the firm.
» Goldman Sachs is advising YPF on the sale, while Morgan Stanley and JP Morgan are advising CNPC and CNOOC respectively.
Full article in Chinese:  http://www.caijing.com.cn/2009-07-03/110192608.html

Airlines Seeking Return of Domestic Fuel Surcharge
» Air China and China Southern Airlines plan to ask industry regulators to resume a fuel surcharge on domestic flights after China raised aviation fuel prices, the official Shanghai Securities News reported.
» An executive from Air China said the carrier will apply for a resumption of the fuel surcharge after it receives notice of the price adjustment from China National Aviation Fuel Group Corp.
» China raised the ex-plant price of jet fuel by 25.6 percent to 5,050 yuan per ton, as of June 30.
» China suspended fuel surcharges on domestic flights in January.
From wires

Zhengzhou Yutong H1 Bus Sales Down
» China's second-largest bus maker Zhengzhou Yutong Bus Co. said sales fell 25.9 percent year-on-year in the six months to June while output decreased by 24.3 percent. 
» Zhengzhou Yutong said it sold 11,361 units during the half-year as output decreased to 11,432 units.
» However, sales in June increased 29 percent from the previous month to 2,889.
Full article in Chinese: http://www.caijing.com.cn/2009-07-03/110192553.html

┣━Finance━┫

Your-Mart to List in Shenzhen
» Your-Mart Co., the largest retailer in central China's Hunan province, plans to issue up to 50 million shares in an IPO on the Shenzhen Stock Exchange on July 8.
» The company also said its initial public offering price range is 19.3-22 yuan.
» Your-Mart is the third firm approved to go public since the China Securities Regulatory Committee resumed IPOs in June. IPOs have been suspended since September.
Full article in Chinese: http://www.caijing.com.cn/2009-07-02/110192105.html

ICBC to Boost Financial Leasing Unit's Capital
» Industrial and Commercial Bank of China will boost the capital of its financial leasing unit by 3 billion yuan, taking the unit's total registered capital to 5 billion, the bank said in a statement on July 3.
» ICBC Leasing was the first financing leasing firm approved by the China Banking Regulatory Commission after regulators lifted a decades-old ban on commercial banks investing in financial leasing companies in March 1997.
» ICBC Leasing is based in Tianjin's Binhai New Area, a testing ground for China's financial reforms. It offers sale and leaseback deals and structured tax leasing.
Full article in Chinese: http://www.caijing.com.cn/2009-07-02/110192469.html

┣━Politics and Law━┫

New Director of AIT Taipei Office Appointed
» William A. Stanton has been appointed the new director of the Taipei office of the American Institute in Taiwan (AIT), the institute announced July 1. Stanton will succeed Stephen M. Young in August 2009.
» The American Institute in Taiwan, which serves as a channel of communication between the US and Taiwan, was founded based on the Taiwan Relations Act of 1979, after the US government changed diplomatic recognition from Taipei to Beijing.
» The appointment of Mr. Stanton was welcomed by Taiwan's Ministry of Foreign Affairs, which hopes he can contribute to strengthening ties between US and Taiwan. Stanton has worked in Beijing and is experienced in Asian affairs and cross-strait issues.
Full article in Chinese: http://www.caijing.com.cn/2009-07-02/110192384.html

Chengdu Bus Blaze Confirmed as Arson
» The Chengdu bus fire on June 5 has been confirmed as arson by Sichuan Province police on July 2. The criminal suspect himself died in the fire, which overall killed 27 and injured 76.
» Prior to the fire, 62-year-old arson suspect Zhang Yunliang was unemployed and had threatened suicide to his family.
» The blaze occurred during morning rush hour around 8 a.m., but the air-conditioned bus had sealed windows and a door malfunction that prevented passengers from escaping.
Full article in Chinese: http://www.caijing.com.cn/2009-07-02/110192495.html