News AM July 31
Rizhao Port Sees Iron Ore Imports Declining; First Mainland Company Invests in Taiwan; Citic Securities Sees No Stock Bubble
CBRC Releases Draft Rules on Working Capital Loans
Under a new draft rule aimed at barring working capital loans from asset markets, banks must give a single loan of more than 10 million yuan directly to final recipients, instead of a borrower.
Commentary: Mulling a Next Step for China's Macro Policy
Macroeconomic policy can encourage a stable economy as long as policymakers know when the time is ripe for proper adjustments.
BoComm Loan Scam May Involve 9 Bln Yuan
One key suspect remains at large, and 4.6 billion yuan of the loans classifies as non-performing.
News PM July 30
China Eastern to Add Four Cross-Straits Routes; China Jinchuan to Buy Zambia Nickel Mine; State Construction Chairman Defends IPO Price
China Will Allow Foreign Banks to Issue Yuan Debt
China will permit foreign banks to enjoy the same rights as domestic lenders in underwriting bonds issued on the inter-bank market, the governor of the People's Bank of China said.
Where Did that 7 Trillion Yuan Come From?
A close look at China's first-half lending surge shows how the Big Four banks blazed a credit trail that many others followed.
Property Developers Emerge from Doldrums
Real estate investment is rebounding thanks to an improved credit environment and state-owned companies with plenty of cash.
China Construction Bank to Focus on Managing Risks
China Construction Bank disbursed 708.5 billion yuan worth of new loans in the first six months as the government loosened monetary policy to prop up the economy.
EU Imposes Pre-emptive Tariffs on Chinese Steel Pipe Imports
Chinese officials say they are preparing a case at the World Trade Organization against the EU and the United States over steel tariffs.
News AM July 30
BHP to Sell 23% of Iron Ore Output Via Long-term Contracts; CDB Opens Hong Kong Branch; 'Wanted List' for 15 Urumqi Riot Suspects
China Aims to Expand Rural Financial Network
As of June 31, 2009, there were 118 rural financial institutions in China, including 100 rural banks, seven lending companies, and 11 rural mutual cooperatives. China opened its rural financial market to private capital at the end of 2006.
News PM July 29
Agricultural Bank H1 New Lending Triples; CNPC Says Algeria Refinery Starts Operations; Train Derails in Southern China, Four Dead
Slaying Scraps Tonghua Steel Takeover Plan
The death of Chen Guojin is still unsolved, but authorities have already laid to rest a business plan that preceded the violence.
Central Bank 1-Yr Bill Yield Rises
The People's Bank of China issued one-year bills with a higher yield on July 28, apparently to reduce excess liquidity by locking up funds in the market.
News AM July 29
State Construction Surges on Shanghai Debut; CDB Issues Yuan Bonds in Hong Kong; Midea Plans 3 Bln Yuan Rights Issue
CCB to Cap H2 Loans Amid Concerns of Bad Loans
China Contruction Bank, the world's second-largest bank by market value, will rein in lending amid concerns of asset bubbles and bad loans. The Industrial and Commercial Bank of China made a similar decision earlier this month.
China Unicom to Offer iPhone by End-September
The agreement is exclusive over three years, ruling out a rival provider offering the device in the short term, report said.
China Industrial Profits Down 21.2% in First Six Months
Industrial profits, while still on the decline, were pulled up by a 193.3 percent rise in profit in the oil refining and coking sectors in the first six months.
Direct Power Supply Trial Gets Cold Shoulder
The response so far runs counter to high market expectations that the pilot program would break the country's electricity transmission duopoly.
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