China to Order Investment Products Carried on Bank Balance Sheets
The inclusion of wealth management assets into balance sheets is expected to result in banks holding more capital in reserve, restricting their ability to expand. The rule is likely to be announced this week.
News PM July 1
Gome Appoints Vice President to Board; Suntech Signs Convertible Loan Agreement with IFC; China Minsheng to Set up Another Rural Branch
Pause Button for China's Internet Filter Rule
Concerns raised by computer manufacturers factored into a government decision to delay the Green Dam software mandate.
Yields Rise on 28, 91-Day Repos
The People's Bank of China on June 30 drained 50 billion yuan from the money market via 28-day repos yielding 0.95 percent.
China Willing to Accept Less Iron Ore Price Cuts
But Chinese steelmakers will continue to reject the 33 percent price reduction agreed between global miners and mills in Japan and South Korea.
China June PMI 53.2, Up from May
It is the fourth consecutive month the PMI has held above 50 points, the level separating expansion from contraction in purchasing.
Wanted: Traders for China's Steel Futures
Steel product futures trading began in March, to the advantage of China's steelmakers. But the market needs more participants.
News AM July 1
361 Degrees Raises HK$1.7 Bln in Hong Kong IPO; BP, CNPC Win Oil Project in Iraq; Central Huijin Says Unlocking State Shares not Equal to Cutting Holdings
Grand China Airlines Denies Report of IPO Sponsor Withdrawal
A source at UBS said that the bank has not withdrawn from the proposed IPO, but added that the carrier is unlikely to go public within a year due to a reorganization.
China to Expand Direct Power Supply Trial
A specific regulation on transmission fees will take effect in the second half of this year, which will integrate various direct-sale measures initiated by local governments.
SDB Chairman Hails Ping An as "Good Match"
SDB president Xiao Suining said that the deal will win all necessary regulatory approval.
Banks Offer Chinalco Financing for Rio Tinto Rights Shares Purchase
Based on the current share price, Chinalco needs to invest more than US$1.4 billion in order to maintain its 12 percent stake in the London-listed Rio Tinto Plc stock.
News PM June 30
CNPC to Acquire Ningbo Golden Harbor Trust; SMIC Upgrades Q2 Sales Growth Forecast; Chigo to List in Hong Kong; China Plans to Store Influenza Vaccines
BEA China Unit to Issue 1 Bln Yuan Worth of Bonds
BEA bonds are available for public subscription between June 30 and July 17, 2009, in units of 10,000 yuan.
China Raises Gasoline, Diesel Prices by 9%
The price adjustment indicates that the government is more closely following the new fuel pricing formula, an industry analyst said.
New-Energy Auto Standards Have Limited Impact
New automakers must still hurdle an approval process set by the National Development and Reform Commission.
Slow Takeoff for Merger of Indebted Airlines
A plan to combine state-owned China Eastern Airlines and city-held Shanghai Airlines is finally getting off the ground.
News AM June 30
Shares Exiting Lockup in 2009 Worth 3.2 Trln Yuan; Containerized Freight Index to be Launched in Shanghai; Pierre Cardin to Sell China Brands
BOC Wins Nod for 40 Bln-Yuan Subordinated Debt
China's largest state-owned commercial banks are gearing up to boost their capital following a spike in new loans in early 2009.
China Insurance Assets Rise 2% in May
China's insurers generated premium income of 495 billion yuan in the first five months of 2009, which included 120.9 billion yuan in property insurance premiums and 342.1 billion yuan in life insurance premiums.
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