China's old stock certificates

Hong Kong stocks retreated 64.01 points, or 0.3 percent to close at 21,029.81 on Friday.

The State-owned Assets Supervision and Administration Commission (SASAC) of Beijing and the China Resources Group in Hong Kong agreed Friday to cooperate in the bio-medical sector.

Geely is expected to complete it takeover of Swedish luxury car brand Volvo from US automaker Ford Motor Co on Monday.

While the number of Chinese social networking site (SNS) users has been steadily increasing, growth rates in the crowded market appear to have slowed.

Construction on the first phase of a nuclear power plant started in Guangxi Zhuang autonomous region Friday.

The China Iron and Steel Association (CISA) announced deputy secretary-general Qi Xiangdong's retirement on Friday and said Li Xinchuang, president of China Metallurgical Industry Planning & Research Institute, will take the post.

China's stock index futures closed lower Friday with the contract for August, the most actively traded, down 0.25 percent from the previous trading day to end at 2,871.4 points.

The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, dropped 0.71 percent, or 6.93 points, to close at 968.43 points in Friday's trading.

A senior Chinese central bank official Friday stated that China's exchange rate reform was moving at a proper pace and in the proper direction, with obvious benefits.

China's stocks dropped, paring the benchmark index's biggest monthly advance in a year, on concern recent gains were excessive relative to earnings prospects.

China should reduce supplies by foreign companies to just one-third of its requirements by 2015 by boosting domestic output and investing overseas, the China Iron & Steel Association said.

China Iron and Steel Association general secretary Shan Shanghua told industry delegates that a large number of steel firms were facing losses in the second half of the year.

Charles River Laboratories International Inc withdrew a $1.6 billion bid for WuXi PharmaTech (Cayman) Inc, citing investor opposition to what would have been the largest foreign takeover of a China company.

US private equity giant the Carlyle Group said on Friday it had received 2.4 billion yuan ($354 million) in commitments for its Beijing-based yuan-denominated fund.

China will exclude 27 percent of bank loans to local government projects from a forthcoming clean-up of financing vehicles run by local officials, two banking sources told Reuters on Friday.

The first interim report of 2010 for securities brokers was released Friday by Northeast Securities Co in Changchun, capital of Northeast China's Jilin province.

China Petroleum & Chemical Corp, Asia's biggest refiner, said BP Plc has declined an offer by the Chinese company to buy some of its assets.

A newly-published national education outline says Chinese schools need to tighten fund management in a bid to prevent financial risks.

More than 7,000 households in Beijing will be able to move into affordable apartments in the near future as construction of this year's largest government subsidized housing project began on Wednesday.

Residents in Jianwai SOHO have finally won an almost two-year fight with a property management company, but still must deal with debts accrued by the company during that time.

Soaring demand and fewer discounts have secured the profits of the nation's major airlines in the first six months, with China's aviation industry expected to stay well in the black for the rest of the year, said analysts.

Developed countries must stop blaming China for their economic woes even while urging it to help them climb out of recession.

In addition to wishing Beijing and Tianjin were less gridlocked, passengers said they would also like to see the bullet train lower its prices for regular commuters.

China will help Venezuela build three 300 megawatt (mW) electricity generating plants in return for oil deliveries under a long-term $20 billion financing deal, the Latin American OPEC nation said on Thursday.

A large number of villas and townhomes inspected in Beijing have construction defects and some flaws could even endanger lives, according to experts.

China State Construction Engineering Co, the country's top developer and construction company, said on Friday that its first-half net profit grew more than 50 percent year-on-year.

The restructuring ceremony of Anshan Iron and Steel Group and Pangang Group Company was held Thursday, making Ansteel the new official parent company of Pangang.

Market roundup

Chinese lenders' attempts to expand financing for ships are being held back by tax regulations and a lack of expertise, according to Bank of Communications Co.

China may raise the upward limit for insurers looking to invest their assets into A shares to 20 percent from 10 percent now, the Shanghai Securities News reported on Friday. China may let insurers buy more infrastructure debt

China's foreign exchange regulator said Thursday that it will increase punishments for illegal foreign exchange activities.

Chinese 3G operators may be licking their chops as the watch more and more people fondling their flashy new iPads and iPhone 4s across China.

China's stocks rose, sending the benchmark index to the highest in two months, after the central bank said it will keep a "moderately loose" monetary policy and steelmakers rallied on improving earnings prospects.

China Investment Corporation posted a solid return of 11.7 percent on its global investment portfolio in 2009.

Shanghai Airlines Co Ltd said on Thursday it has agreed to terminate its Star Alliance membership by the end of October.

A property bubble continues to pose the biggest risk for China's economy in the second half of the year and there is still room for correction in housing market.

Zhejiang Geely Holding Group Co is expected to complete it takeover of Swedish luxury car brand Volvo from US automaker Ford Motor Co on Monday after getting government approval for the deal.

Aluminum Corp of China on Thursday signed a $1.35 billion agreement with global miner Rio Tinto to develop the Simandou iron ore project in the West African country of Guinea.

Small- and medium-sized enterprises in China spent almost 7 percent of total assets on entertaining their key business contacts to develop "social capital".

Despite limited help from the government, small- and medium-sized enterprises in China face an uphill battle.7% of SME assets spent on 'relationships'

China National Aviation Holding Company is to take over China Aviation Supplies Holding Company, a major aircraft and material provider for domestic airlines.

Accelerated urbanization can keep China's economy on the fast track for another 15 to 20 years, as more than half of its population will live in cities and towns by 2015.
China leads the world in urbanization: blue paper

Manufacturing will remain a major part of the Chinese economy for at least the next 100 years despite strikes and increased labor costs, according to a leading economics research body.

Shenzhen Stock Exchange (SZSE), established on Dec 1, 1990, is a self-regulated legal entity under the supervision of China Securities Regulatory Commission (CSRC), China's top securities regulator.

The Shanghai Stock Exchange (SSE) was founded on Nov 26, 1990, and started operation on Dec 19 the same year. It is directly governed by the China Securities Regulatory Commission (CSRC), China's top securities regulator.

China Southern Airlines Co, China's biggest airline by fleet size, rose to the highest level in more than two months in Shanghai after saying first-half profit may have risen 5,000 percent.

The country will continue its tightening policies for the property sector, even as housing prices in June saw the first monthly fall since February last year, the Ministry of Housing and Urban-Rural Development said on Monday.
China shares fall on reaffirmed property curbs
Third-home mortgages back in some big cities
International demand jacks up retail rents in Shanghai  Difficult road

Banks in some major cities have relaxed restrictions on handing out mortgages to third-home buyers, arousing speculation over possible changes to the government's tight policy stance on the overheated real estate market.

Housing prices in major Chinese cities rose 11.4 percent year on year in June, one percentage point lower than the increase in May, the National Bureau of Statistics (NBS) said Monday.

Chongqing plans to build some 30 million square meters of public housing for 1.5 million city dwellers over the next three years, in order to tackle an acute housing shortage and stabilize rising property prices, said Huang Qifan, the city's mayor.

China Poly Real Estate Group Co, one of the country's biggest developers, said on Thursday its property sales in the first six months rose 3.3 percent year-on-year.

Mainland stocks slumped, driving the benchmark index down the most in six weeks, on concern the nation's property curbs and Europe's debt crisis will slow growth in the world's third-largest economy.

What is the Shanghai Stock Exchange?

Based in the Chinese city of Shanghai, the stock exchange is one of the three stock exchanges operating independently in the People's Republic of China, the other two are the Shenzhen Stock Exchange and the Hong Kong Stock Exchange.

China's stock index futures closed higher Thursday with the contract for August, the most actively traded, down 0.08 percent from the previous trading day to end at 2,876.8 points.

Chinese shares continued to advance Thursday, sending the benchmark index to the highest level in two months, led by strong steel and cement makers.

The ChiNext Index, launched by the Shenzhen Stock Exchange on June 1, rose 0.29 percent, or 2.83 points, to close at 975.36 points in Thursday's trading.

China's Hebei Iron & Steel Group remained the country's biggest steel producer in the first half of the year after raising crude steel output by 26 percent from a year earlier.

Aluminum Corp of China Ltd, China's biggest producer of the metal, agreed to pay $1.35 billion for a stake in Rio Tinto Group's Simandou iron ore project in Guinea, making its first investment in the commodity.

What is the Shanghai Composite Index?

The SSE Composite (also known as Shanghai Composite) Index is an index of all stocks (A shares and B shares) that are traded at the Shanghai Stock Exchange (SSE). It is the most commonly used indicator to reflect SSE's market performance.

After its launch this month in Shenzhen, the Growth Enterprise Board (GEB, also known as ChiNext board) will strive to function as does America's National Association of Securities Dealers Automated Quotations, known as NASDAQ.

What is ChiNext? How does ChiNext differ from the main boards? Why is ChiNext being launched? What type of company can be listed on ChiNext? Do other countries have similar boards?

Shanghai Stock Exchange and Shenzhen Stock Exchange announced on June 29 that all companies listed before June 30, 2010, should disclose their interim reports before Aug 31.

Why has China succeeded so spectacularly in the span of just three decades since the launch of Deng Xiaoping's economic reform? The reasons that are usually cited are China's compelling demographic, geographic and broad cultural factors.

Notwithstanding all the hype over rising wages in China, it is entirely premature to declare an end to the global labor cost arbitrage that has long worked in China's favor.

The "seesaw battle" between the central government and various vested interest groups reflect the nation is suffering from "real estate disease".

In this sense, the planned listing of those news websites is dubious as it goes against the rule of the market to decide which companies are going to get listed and which are not.

This Friday, China will start trading CSI 300 index futures, allowing investors to play a derivative, either long or short, with leverage.

I am afraid, as many others may be, that the government's guidance on the real estate market (especially that in the so-called first tier cities like Beijing and Shanghai), is a classic failure.

"What's in a name?" muses Juliet in Shakespeare's Romeo and Juliet. She's pondering the feud between the Capulets and the Montagues in 16th century Verona, but she could just as well be picking a stock on the Chinese market.

The recent strong performance of technology stocks on the A-share market may be reminiscent of the internet bubble's peak 10 years ago but analysts said the current trend was far from crashing and there was still a lot for investors to expect.

The recent wild surge in house prices has triggered worries about asset bubbles, but what could be more detrimental is its impact on public confidence in government policies.

Derivative transaction will become an important part of China's financial market in the future, said a financial expert on Thursday in Chicago.

Stocks in companies from the nation's underdeveloped western region rallied on Wednesday after President Hu Jintao called for further efforts to boost economic growth in the area.

China's stocks fell, dragging the benchmark index from a three-week high, as investors speculated recent gains were excessive given the prospect of increased government measures to cool economic growth.

These days, all eyes are on the People's Bank of China, the Federal Reserve, and other international policymakers, as the market becomes increasingly edgy over whether they will act to head off inflation brought on by stimulus measures.

In the 1980s, a crucial question for portfolio managers was what to do about Japan. Today, the parallel question is what to do about China.

Margin trading may bring in $13b on A-share market
The upcoming margin trading pilot program, which allows securities companies to lend stocks and money to investors, is likely to bring about a total of 90 billion yuan to the A-share market in its initial stage, Securities Times reported Monday, citing research by Sinolink Securities.
Six brokerages for margin trading
Brokerages pass margin trading review

China's benchmark stock index may fall a further 17 percent to 2,500 in the first half as the government steps up measures to cool growth, according to Guotai Junan Securities Co, the nation's second-largest brokerage.

Frustrated by the market's performance over the past eight months, Chinese investors may take solace - and a bit of advice - from the session of the National People's Congress just ended.

Investors should buy Asian stocks outside Japan after valuations dropped and before sentiment strengthens further, Goldman Sachs Group Inc said.

Much to the chagrin of believers in "value investing", there's no doubt that a good story alone can move prices.

Editor's Note: It has been a bumper year for China's businesses with around 70 percent releasing annual reports listing staggering profits. The rise in profits for China's listed companies in 2009 was spurred by real estate developers and machine manufacturers thanks to a rebound in the housing market and huge government stimulus. [Full Story]

Long-term bullish outlook for Shanghai market will take the index above 3,400 for the long-term

Growing domestic consumption and the international balance of payment have led to a rise in China's latest imports and a drop in trade surplus.

China's export growth accelerated in January and imports rose, adding to signs a recovery in global and Chinese demand is on track.
China's foreign trade up 44.4% in Jan 
China overtakes Germany as world top exporter 

Chart patterns sometimes fail and when they do it is important to adjust analysis to recognize the new situation. The long term cup and handle pattern in the Shanghai Index signaled failure in the last week.

Chinese stocks may fall further before reaching a "bottom" in April or May as money supply growth slows and policy risks increase, JPMorgan Chase & Co said.

Behind all the confusing news reports and questions about bank lending and a credit freeze, we think what markets are really worried about are the fundamentals of growth and inflation.

The post-global economic crisis era is both a challenge and an opportunity for Chinese enterprises. Joseph B. Fuller, CEO of Monitor Group and senior consultant and economic observer, tells China Daily's Wang Yiqing how they can rise up to the challenge and seize the opportunity.

The Shanghai Index retreat was first triggered by the announcement of a lending suspension applied to some banks.

The International Monetary Fund's lavish approbation of China's determined policy response to the worst global recession in more than half a century seems well deserved.

SAIC Motor Corp, China's largest automaker, said its first-half profit may have more than quadrupled from a year earlier because of rising demand for vehicles in the world's most populous nation.

China Petroleum and Chemical Corp (Sinopec), the nation's largest oil refiner, said Tuesday that it processed 101.45 million tons of crude oil in the first half of 2010, up 16.74 percent year-on-year due to strong growth of the Chinese economy.

The total new loans for China's small and medium-sized enterprises (SMEs) grows faster than that for big companies, as the government measures to allow easier access to financing have begun to take effect, according to a Chinese central bank official.

Chinese companies raised the most this decade in first-half initial public offerings as Huatai Securities Co and more than 170 other firms tapped the country's financial markets.

China's centrally-administered State-owned enterprises (SOEs) reported combined profits of 542.96 billion yuan ($80.1 billion) during the first half of this year, the nation's SOE watchdog said Monday.

China's centrally administered State-owned enterprises (SOEs) saw their total profits surge almost 60 percent year-on-year to nearly 543 billion yuan ($80 billion) in the first half of this year, the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council announced on its website Friday.

Profits at China's state-owned enterprises (SOEs) surged 57.1 percent from a year earlier in the first half of the year, the Ministry of Finance said Friday.

China's Ministry of Commerce said it has approved Zhejiang Geely Holding Group Co's purchase of Ford Motor Co's Volvo Car unit.

Guangdong Development Bank Co's first-half net income rose 79.7 percent to 3.6 billion yuan ($531 million), the China Business News reported today, citing the Chinese lender.

Revenue in China's software industry rose by 29.1 percent year on year to 604.8 billion yuan ($89.34 billion) in the first half of 2010, the Ministry of Industry and Information Technology said.

China's centrally administered State-owned enterprises (SOEs) jointly donated over 1.42 billion yuan ($212.53 million) for charitable work during the first half of 2010, the state assets watchdog said Monday.

Imports and exports of electronic products in China rose 41.8 percent year-on-year to $452.6 billion in the first half of 2010, according to the Ministry of Industry and Information Technology.

Net income in the securities sector in the first half of this year slid 33.1 percent from a year ago, the Century Weekly reported Monday, citing statistics released by the Securities Association of China.

China National Gold Group Corp, China's largest and only State-owned gold mining company, said it earned nearly 1.55 billion yuan ($228.8 million) in the first half of this year.

According to the State Administration of Industry and Commerce (SAIC), between 2006 and September last year, it was responsible for identifying and breaking up 10,980 pyramid schemes.

China Investment Corp increased its net profit last year to $41.66 billion from $23.1 billion in 2008, China Central Television quoted the fund as saying.

Profits of China's industrial enterprises climbed 71.8 percent year-on-year to hit 1.61 trillion yuan ($237.5 billion) in the first six months.

The Chinese government's fiscal revenue rose 27.6 percent in the first six months of the year to 4.3 trillion yuan, according to a statement from the Ministry of Finance's website today.

2009 Annual Reports of Listed Companies

Focus on ABC's IPO Plan

2009 Interim Results of Listed Companies

China might ease rules on how much insurers can invest in infrastructure bonds, the China Securities Journal reported on Thursday.

The first batch of 28 firms started trading on ChiNext on Oct 30.

China's consumer price index (CPI), a main gauge of inflation, increased by 1.5 percent in January from the previous year, the National Bureau of Statistics (NBS) announced.

A quick view of mid-term results of listed companies in China.

Fosun International Ltd, part owner of Club Mediterranee SA, plans investments in European luxury brands and red wine companies to build alliances for expansion in China, which is forecast to become the biggest luxury market.

Floor space transactions in the 35 cities monitored by China Index Academy went up last week (June 21 -27), the Shanghai Securities News reported Tuesday, citing a weekly report from the academy.

Property prices and trading volumes in Beijing might have fallen - following the introduction of a tough new policy on April 30 - but insiders say Beijing buyers' interest in buying new homes has not diminished.

Shenzhen’s average housing price in May declined to 18,998 yuan ($2,788) per square meter, which is the first time the city’s housing prices dropped below 20,000 yuan per sq m since December 2009, Shanghai Securities News reported Thursday.

Only four of 20 large Chinese cities saw residential land sales last week, according to a real estate sector report.

Beijingers who plan to travel to Hong Kong will be able to join tours without forced shopping and extra charges, the head of Hong Kong's tourism authority promised.

With several high-profile auto fires in the news recently, car drivers are being reminded of the importance of insuring themselves against such a disaster.

The National Development and Reform Commission Wednesday ordered local authorities to take actions to prevent hoarding and price speculation in grain markets and work to maintain market order.

Southwestern Chinese province of Sichuan will raise its minimum wages by as much as 44.4 percent starting August, local authorities said Wednesday.

China's Agricultural Bank announced Thursday the over-allotment option for its global offering has been exercised in full by the joint bookrunners on behalf of the international underwriters on the day.

The conventional wisdom is that once the value of the yuan is increased, the US trade deficit with China would start falling. This rationale has prompted many Americans to push for further, faster revaluation of the yuan even after China changed its currency policy.

China has agreed to let two State-owned agencies finance a stalled $2.6 billion Bahamian resort project that the developer said would provide the biggest job stimulus the Bahamas have ever seen.

China will spend 800 billion yuan ($120 billion) as part of an ambitious plan to double its high-speed rail network by 2012, the Ministry of Railways said on Wednesday.

China is expected to approve a wage regulation by the end of this year in a major effort to improve workers' lives and narrow the income gap.

Foreign airlines can expect to receive more flight slots in the future at the country's busiest airport in the capital, as a result of government efforts to increase transparency and build an international hub.

China's Ministry of Finance (MOF) said Wednesday it will sell 28 billion yuan ($4.14 billion) of 30-year book-entry Treasury bonds this week.

China will increase efforts against insider trading by expanding trial registration of individuals who may have access to privileged market-moving information.

Aluminum Corporation of China Ltd and Rio Tinto Group will sign an agreement for development of a large iron-ore mine in Guinea today, the Shanghai Securities News reported.

Dai Xianglong, chairman of the National Council for Social Security Fund, said the pension fund will begin investing in overseas private-equity funds soon.

Rubber advanced to the highest level in more than two weeks on speculation that demand may climb as Asian equity markets gained and the Japanese currency declined.

China's plan to allow yuan deposits held offshore to be channeled into the mainland's equities market will help shore up market liquidity, but it can hardly be an immediate market saver.

China's Geely could complete its landmark purchase of the Swedish car brand Volvo from Ford Motor Co as soon as next week, a source familiar with knowledge of the matter said.

The People's Bank of China (PBOC), the central bank, said Friday that it has signed a 150-billion-yuan (US$22.12 billion) currency swap agreement with the Monetary Authority of Singapore (MAS).

China's banking regulator has run stress tests in the country's trust firms to see if they can withstand a downturn in the property sector, the Economic Observer reported on Saturday, citing unidentified industry sources.

Tightening measures to curb speculation in China's real estate sector will not be changed, the Shanghai Securities News reported on Thursday, citing a government researcher.

More than 20 business groups have recently urged the exclusion of a bill on China's currency policy from a package of manufacturing bills that lawmakers will start voting on this week.

Market roundup

China's stocks rose, extending gains for the benchmark index to 11 percent from this year's low, as a jump in industrial profits and the prospects for increased spending and tourism boosted the domestic economic outlook.

China's State Administration of Foreign Exchange (SAFE) said Friday it would step up efforts to monitor and fight hot money inflow.

The central parity rate of the yuan, China's currency Renminbi (RMB), stood at 6.7718 per US dollar Monday, a new record high, according to the data released by the China Foreign Exchange Trading System.

China may calculate the yuan's exchange rate against a basket of currencies, instead of only against the US dollar, a Chinese central bank official said Thursday.

The People's Bank of China (PBOC) and the Monetary Authority of Singapore (MAS) on Friday announced the establishment of a bilateral currency swap arrangement.

The People's Bank of China (PBOC), or the central bank, and Hong Kong's renminbi clearing bank -- Bank of China (Hong Kong) Limited -- on Monday signed the revised Clearing Agreement for Renminbi Business in HK.

China will allow the sale of yuan-denominated financial products in Hong Kong and lift a cap on the purchase of yuan by corporations in the city to meet growing demand for the Chinese currency, newspapers said on Tuesday.

French food producer Danone sold its stake in China's Huiyuan Juice Group to a Chinese PE fund for 200 million euros.

A pilot program on renminbi cross-border settlement was launched in Kunming, Yunnan province, on Tuesday as part of China's effort to gradually promote the renminbi into a global currency.

China Everbright Bank will list on the Shanghai stock exchange on Aug 18, and will soon release its prospectus for an IPO slated to raise up to $2.9 billion.

Central China's Henan province will consolidate most of its small coalmines to update the scattered industry base and eliminate outdated capacity.

Zijin Mining Group, China's biggest gold producer, will reduce production after being instructed to do so by the local government in Fujian, where the company is based.

Guangdong Development Bank Co said it moved currency and bond traders to Shanghai from its headquarters in Guangzhou as an end to the yuan's peg against the dollar enhances the city's role as a financial center.

Chinese credit rating agency Dagong Global Credit Rating said it might delay its American credit rating market entry plans, after the US government rebuffed its application earlier this year.

Industrial & Commercial Bank of China plans to raise up to 45 billion yuan ($6.64 billion) through a rights offer.

China has notched up a victory against the United States after a World Trade Organization (WTO) panel ruled in China's favor in a dispute over the ban on imports of Chinese chicken, sources close to the matter said on Wednesday.

The aggressive expansion tactics adopted by foreign seed companies in China have increased concerns over the nation's food safety especially at a time when agricultural yields have been falling.

The International Monetary Fund's softened tone toward China's exchange rate regime will ease pressure on the appreciation of the yuan, Chinese economists have said.
Full Coverage
Editorial: Reassuring review

The State Grid Corp of China has signed a framework agreement with the Russian national grid operator to extend their collaboration on grid technology, cooperation and management.

A senior Chinese central bank official said Wednesday China will continue to reform its exchange rate formation mechanism to consolidate coordinated and sustained economic growth amid a rise in production costs.

Several Chinese commercial banks raised their cross-bank same-city automatic teller machine (ATM) withdrawal fees earlier this month, triggering opposition among bankcard holders.

As China begins establishing cold chain national standards to boost the industry's development, the US is lending a helping hand to create a win-win situation for both sides, a US official said on Tuesday.

China may make solar power as cheap as electricity produced from coal in about a decade as the country accelerates the development of cleaner energy to cut emissions.

If recent assurances by the government of boosting private investment are adequately fulfilled, it will amount to yet another stimulus as important as the 4-trillion-yuan one that China initiated in 2008 to fight the global recession.

Property tax is expected to boost the coffers of local governments and will also help curb realty speculation by increasing the holding costs.

China is likely to expedite approving hydropower projects from the second half of this year, or face missing its ambitious renewable energy target after cutbacks in the past five years, local media said.

The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, rose 1.52 percent, or 14.57 points, to close at 972.53 points in Wednesday's trading.

China's stock index futures closed higher Wednesday with the contract for August, the most actively traded, up 3.76 percent from the previous trading day to end at 2,887.4 points.

China's key stock index rose 2.26 percent on Wednesday to its highest close in two months after the central bank said economic growth would slow but there would be no double-dip in the economy, bolstering sentiment.

In about three months, the property market will probably reach a comprehensive correction and prices will fall in some areas. But it's hard to predict the extent of the price drop, which may vary from city to city.

The East and the West must balance their respective economic structures to thrive in the post-crisis world.

A recent survey shows that more than 50 percent of college graduates have been discriminated against in different ways, while about 60 percent of employers have specific requirements for an employee's hukou or home origin, according to Mirror Evening Newspaper.

Asia is boosting consumption of liquefied natural gas relative to oil as nations from China to India try to pollute less while driving economic growth.

New York-listed Aon Corp and Hewitt Associates Inc announced that the boards of directors of the two companies have approved a definitive agreement under which Hewitt will merge with a subsidiary of Aon.

I tend to believe that in the next two or three years, the property market will experience a relatively slow adjustment, the growth of housing trading volume will be lower than the average level, and housing prices will see correction or slow but continuous decline.

The situation will be somewhat like Japan's slow adjustment process after the 1990s.

The Dagong Global Credit Rating, a professional credit rating and risk analysis agency in China, has been rejected by the US government from entering the American market.

The "quick, determined and effective" policy response of Chinese authorities has helped mitigate the impact of the financial crisis and ensured that China has led the global recovery, the International Monetary Fund (IMF) said on Tuesday.

Beijingers now have the option of selling their old cars or looking for used autos in consignment stores after some outlets started dealing in secondhand cars in a bid to tap into the city's huge market.

Jollibee Foods Corp, the largest Philippine fastfood company, will spend 50 million yuan ($7.38) for a food-processing plant that will serve its restaurants in China, a stock exchange filing today showed.

An unnamed source said the Securities Association of China (SAC) had a meeting with securities brokers on Tuesday to discuss the issue of commissions.

An income survey report, based on 5,866 enterprises in Beijing, Shanghai and Guangzhou, shows that the average wage rise was 10.1 percent so far this year, 1.9 percentage points higher than 2009.

China's domestic demand for solar photovoltaic (PV) energy would reach 500,000 kilowatts this year, said Liu Qi, deputy head of the National Energy Administration (NEA), on Tuesday.

China ranks No 1 among 27 emerging economies due to its huge consumer market and rapid economic growth, according to the Emerging Markets Opportunity Index released by US accounting firm Grant Thornton.

Shares of Zijin Mining Group Co fell 1.4 percent to 5.64 yuan (83 cents) at Wednesday's opening on the Shanghai bourse after the company said late Tuesday that it was asked to limit production.

A dramatic increase in domestic and international tourism has led to a rise in the number of hotels.

The value of Hong Kong's total exports and imports of goods in June grew 26.7 percent and 31 percent year-on-year.

Cities such as Beijing, Shanghai and Shenzhen may experience some correction but price declines won't be more than 10 percent.

The government is "resolute" in curbing price rises. The latest crackdown on prices won't lead to a property market slump.

Some property developers in Nanjing are offering discounts. But my friends feel like me that government efforts to cool the property sector may affect prices, so it's better to be conservative for now.

Chinese procuratorate had approved the arrest of Li Tuchun, founder of leading Chinese dairy beverage producer "Taizinai" or "Prince Dairy", for illegally collecting public funds, a government spokesman said Tuesday.

New standards of proof for ownership and a ban on malicious registration will be included in the next draft of China's trademark law, which has been under discussion, according to a senior government official.

Measures could help stabilize home prices over a certain period of time, but the prices might show a "revenge" rally later this year as developers withdraw their investment, exacerbating the shortage of new properties.

Market roundup

The People's Bank of China, the central bank, said on Tuesday that while it is possible for China's economic growth to slow, the chances of a "double dip" are seen as slim.

One thing has become clear during the sovereign-debt crisis: Governments everywhere are going to be cutting their spending savagely over the next five years.

Tin, the best performing industrial metal this year, climbed to the highest level since the collapse of Lehman Brothers Holdings Inc in September 2008.

China Eastern Airlines Co Ltd said Tuesday that it will set up a joint venture in Kunming with the Yunnan provincial government, as part of its effort to explore the southwestern market.

The shifting market dynamics of the food industry in China offer immense opportunities for American companies to boost exports of agricultural products, a top US official said Tuesday.

Local media is speculating that Philips Electronics is mulling whether to sell its LCD TV business in the Chinese market to HK-listed TPV.

A new asset management firm will be established within a month by China's State-owned asset regulator in a move to push ahead with restructuring of State-owned enterprises, sources said Tuesday.

The China Banking Regulatory Commission said nearly one-fifth of the bank loans disbursed to local governments are questionable, but will not cause any systemic risks to the banking sector.

Falling steel prices will continue to cloud the profit outlook for domestic steel mills in July, but there are indications that the tide will change over the next few months.

The Asian Development Bank (ADB) is extending a $150 million loan to the People's Republic of China to develop three gateway cities in the Guangxi Zhuang autonomous region.

China Eastern Airlines Corp announced Tuesday it will set up a 3.66-billion-yuan ($540.3 million) joint venture airline company in Southwest China's Yunnan province in collaboration with the local government.

China will continue its proactive fiscal policy in the second half of the year, focusing on speeding up economic restructuring, Finance Minister Xie Xuren said Tuesday.

The amount of shaky loans in Shanghai continues to grow every month despite new policies released in April designed to curb them, said Yan Qingmin, director of the Shanghai banking regulatory bureau.

Tibet autonomous region in Southwest China raised its monthly minimum wages by up to 35 percent this month, local authorities said Tuesday.

Hong Kong stocks gained 133.48 points, or 0.64 percent, to close at 20,973.39 on Tuesday.

The new energy development plan for 2010-2020 drafted by the National Energy Administration (NEA) is finished and awaits approval from the State Council, the country's Cabinet, www.cs.com.cn reported Tuesday.

China plans to start implementing a property tax in two or three years on a trial basis, a source from the Ministry of Finance told China Daily on Thursday.
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More property developers have began to cut prices and adjust their business portfolios to cope with sluggish transaction numbers due to government tightening of the real estate sector.
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Growing public concern over the economic slow down has triggered a national debate on whether policies should be relaxed.

China Resources Power Holding plans this week to issue a benchmark-size dollar bond due in five years, a source close to the deal said on Monday.

The government has ordered Zijin Mining Group Co Ltd to restrict production after discharges from its copper mine polluted a river and reservoir in Fujian province, the China Securities Journal reported on Tuesday, citing unnamed sources.

The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, fell 0.85 percent, or 8.19 points, to close at 957.97 points in Tuesday's trading.

China's stock index futures closed lower Tuesday with the contract for August, the most actively traded, down 0.57 percent from the previous trading day to end at 2,778 points.

Chinese shares snapped a six-day winning streak and closed 0.51 percent lower on Tuesday, with banking stocks dropping across the board.

The world's leading IT contractor Foxconn is talking with the government of Henan province in central China about opening some 2,000 chainstores -- an attempt to diversify its business mode.

Chinese house prices face "very large" pressure to fall in the second half on weakening demand and increasing supply, according to a commentary in the latest edition of a central bank publication, China Finance.

The country is planning to accelerate a mechanism with which to strip poorly run hotels of their star rankings in order to protect the image of all the 15,000 star-rated hotels across the country, a top tourism official said on Monday.

Chinese company and World Cup sponsor Yingli Green Energy Co has seen its stock price and orderbook grow since its sponsorship of the global sporting event.

The Zijin Mining Group, China's largest gold producer, has been accused of attempting to bribe journalists to cover up a wastewater leak in Shanghang, East China's Fujian province.
Zijin Mining faces production curbs
Zijin shares suspended from trading for 2nd day

China will have its first credit default swap (CDS) products before the end of 2010, as regulators carefully review the credit derivative product.

China's stock market, the worst performer in Asia this year, is "near the bottom" and may rally as much as 14 percent as policy tightening concerns ease amid slowing economic growth, according to Citigroup Inc.

China Investment Corp, the nation's sovereign wealth fund, is starting a new round of international hiring to meet its "business development needs," according to a statement today on its website.

International brands are cashing in on Expo 2010 Shanghai by launching new limited edition products and developing their customer bases in the city, as well as across China.

The smallest profits in the commodity shipping market in 18 months may be ending as a rebound in steel and iron-ore prices signal improving Chinese demand that will ease the transport glut.

The price of garlic continued to soar nationwide this month, rising nearly 25 percent over its previous peak price in May, while most other food products also increased in cost, Xinhua News Agency reported on Monday.

Slow income increases has become the most pressing concern for Guangdong residents, a recent report by the local government's think tank revealed.

Since July 19, the villagers have taken their own boats out to sea, right from 7 am to 5 pm, in an effort to clean up the oil spill.

As many as 1,371 families in Beijing had false or questionable information on their applications for affordable housing and their applications will be canceled, a government official said on Thursday.

Market roundup

China's railway sector paid more than 40 billion yuan ($5.9 billion) in interest last year, and the amount may exceed 100 billion yuan, according to a report released by China Minsheng Banking Corp (CMBC) on Monday.

The property boom in China isn't a bubble because it is supported by "solid" demand for residential housing.

While portions of the real estate market such as high-end apartments are overheating, demand for residential homes will remain robust as rural Chinese migrate to bigger cities.

This property has not overheated and the demand for this property is very, very solid.

The recent fall in trading volume and slower growth in prices was largely a result of the measures the government had rolled out since April, and the rising trend in China's home prices has been curbed initially.

Property prices in China's 70 major cities were up 12.4 percent year-on-year in May, but experts said prices would fall in the following months as the number of transactions decreases.

China's property market remains an attractive place to invest despite recent tightening measures, said Fang Fang, JPMorgan's vice-chairman of Asia investment banking.

The latest government policy to tighten second-home purchases is expected to further cool the housing market, but experts said it might be difficult to implement due to the independence of the country's housing registration and banking systems.

China will lend financial support to companies in the tourism industry and encourage them to sell bonds and shares to raise funds, according to a statement from the State Council on a government website.

The People's Bank of China (PBOC) will record credit card cash-out cases in the personal credit information system, the China Business News reported Tuesday, citing the central banks' Shanghai headquarters.

A survey conducted by Beijing News found mixed feelings toward unlicensed taxis among the public.

Baby formula prices are likely to hit record highs when a proposed overhaul of customs regulations affecting the product comes into effect.

Shanghai will submit a plan to subsidize alternative-energy vehicles this week, the Shanghai Securities News reported today.

China's Cabinet promised private investors a bigger role in industries from oil drilling to finance.

China's insurance regulator has approved Sun Life Everbright's proposals to raise funds and revamp its shareholding structure, the official Shanghai Securities News reported on Tuesday.

The nation's long-awaited State-assets management firm, Guoxin Asset Management Co will be launched later this year, a move to stimulate State asset restructuring.

China's State-owned enterprises with investments or operations in the US are digesting a Supreme Court decision late last month that has potentially far-reaching implications.

China listed power firm Huaneng Power International lowered prices for its planned private placement of shares in Shanghai and Hong Kong but left its fundraising target basically unchanged.

The Changping district people's court will hear the case against a water-magnetizing tap from a Hong Kong company this afternoon.

China's economic fundamentals is expected to remain strong though a soft landing of its economy is underway.

Most provinces and regions in China reported first-half gross domestic product growth exceeding the national level.

China Everbright Bank's plan to raise up to $2.9 billion in a Shanghai IPO has been approved by the securities regulator, two sources said.

Editor's Note: The State Council, China's Cabinet, issued a new measure on April 17 which allows commercial banks to refuse loans to people buying their third houses in areas suffering from soaring property prices, in a fresh bid to cool down the country's red-hot property market. [Full Story]
What is a second home-buyer? For investors: Where to put money amid real estate curbs In focus: China mulls levying property tax 
Roundtable: Will housing prices drop as cooling measures bite? Debate: Impact of property policies on China's economy

The government's commitment to come out with favorable policies aimed at promoting clean energy will give a fillip to an early commercialization of cellulosic ethanol.

Sichuan New Hope Agribusiness Co Ltd announced its share trading has been suspended for undisclosed reasons that may cause the company's share price to fluctuate irregularly.

The All-China Federation of Trade Unions said Monday it would work to help 1 million job-seekers find jobs this year, as well as provide vocational training for an additional 1 million people.

HTC Corp, a smartphone- and PC-maker based in Taiwan, is poised for growth in the mainland as its products are expected to gain more ground due to a strong distribution channels, brand positioning and premium products.

China Huarong Asset Management Corporation (Huarong), one of China's four State-owned asset management firms, is taking a more market orientated approach.

Zijin Mining Group Co applied to be suspended from trading in Hong Kong and Shanghai for another day on Tuesday.

Chinese companies should look for more cooperation opportunities with the Association of Southeast Asian Nations to realize the full advantages of the free trade agreement between the two.

China's corn imports will skyrocket from 1.7 million tons this year, to 5.8 million tons next year and as much as 15 million tons in 2014-2015, the US Grains Council said in a recent report.

Google Inc said on Monday it has cut commercial ties with two of its Chinese advertising agents, raising concerns that the Internet giant's recent standoff with the government may scare away more domestic advertisers.

Economic recovery has partly caused China's air quality to fall in the first half of the year, the first such fall since 2005, figures from environmental authorities showed on Monday.

Ford CEO Alan Mulally said on Monday that serving Chinese customers is one of their highest priority, promising to bring all of Ford vehicles to China.

A team of experts will delve into the divisive issue of who earns what in the capital.

The Beijing Municipal Human Resources and Social Security Bureau released its wage guidelines for 13 industries, ranging from the food manufacturing industry to the real estate development industry, for 2009/2010 on Friday.

Charles Lu proudly recounts to visitors how he recently caught a nine-kilogram snakehead fish on a trip to Canada.

More Beijingers are opting not to buy autos, mostly for reasons of convenience.

Despite being one of China's four provincial level cities, Tianjin has always been in Beijing's shadow. Residents of the capital often look down upon their neighbor city, viewing it as a hick town. Indeed, my Chinese friends in Beijing often say that Tianjin is the Middle Kingdom's "biggest village".

My friend, a postgraduate student who studied human resources at a prestigious university, recently told me the tragic story of 'E', a classmate of hers.

Thanks to the Rainbow Homeland project launched by the All China Women's Federation (ACWF) and Unilever China, the students will be able to feel more connected with their parents through the online video chatting system.

BEIJING - Instant noodle maker and distributor Tingyi (Cayman Islands) Holding Corp (Tingyi), famous for its brand "Master Kong", has launched two projects in the hope of encouraging young, enterprising and creative Chinese people to study at world-famous universities.

Tianjin Bohai Iron & Steel Group Corp, which has just finished its restructuring, received a large credit of 100 billion yuan ($14.75 billion) from eight banks last week, the China Business News reported Monday.

Recent Property Policies in China

Hong Kong stocks edged up 0.12 percent, or 24.58 points to close at 20,839.91 on Monday.

Chinese shares advanced for the sixth straight day on Monday, with nonferrous metal stocks rising across the board.

The price of Apple Inc's Mac Mini with 8GB DRAM was "adjusted" to NT$19,900 ($619) from the original price of NT$47,710, its official website showed, and it was later proved to be a mistake, the Beijing Youth News reported Monday.

The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, rose 0.58 percent, or 5.57 points, to close at 966.15 points in Monday's trading.

China's stock index futures closed higher Monday with the contract for August, the most actively traded, up 0.52 percent from the previous trading day to end at 2,803.2 points.

The Association of Southeast Asian Nations has now become China's fourth-largest trade partner since the official launch of the China-ASEAN Free Trade Area on January 1, china.com.cn reported Monday, citing Vice-Minister of Commerce Gao Hucheng.

The China Banking Regulatory Commission will actively guide financial institutions to enhance financial services and support toward Xinjiang Uygur autonomous region, said Liu Mingkang, chairman of the China Banking Regulatory Commission.

Even though China failed to qualify for the 19th World Cup in South Africa, it managed to mark its presence through a green energy enterprise, whose advertisements were widely showcased during the first-ever football tourney in the African continent.

Worries that China is throwing up obstacles to foreign business are misplaced, Commerce Minister Chen Deming said in an article published on Monday.

China's top nickel producer Jinchuan Group Ltd plans to launch an IPO in the first half of next year, the China Securities Journal said on Monday.

The People's Bank of China (PBOC), or the central bank, corrected the statistics for property loans in the first half of this year on its official website, from "a negative growth" to "a positive growth," after the original numbers were questioned by the media, the International Finance News reported on Monday.

State-owned Aviation Industry Corporation of China (AVIC) will invest 10 billion yuan ($1.48 billion) to build an aviation science and technology industrial park in Changchun, capital of Jilin province, caijing.com.cn reported Monday.

China Everbright Bank plans to place out about half of its planned initial public offering to strategic investors, the official Securities Times reported on Saturday.

Turning intenders into actual buyers is the crucial challenge for the marketing departments of automakers, according to the JD Power Asia-Pacific 2010 China New Vehicle Intender Study released early this month.

Electronics manufacturer Foxconn has confirmed that the plant will shift some of its production lines from Shenzhen to interior China, a Taiwan newspaper reported on Sunday.

© China Daily, 2010