Date
17 August 2019

Business

  • Central bank sets RMB midpoint softer at 6.1395

    Oct 22, 2013 9:44am
    The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1395 on Tuesday, 43 pips weaker than the 6.1352 fixing on Monday, according to the China Foreign Exchange Trade System. The...
  • High hopes, and hurdles, for Shanghai FTZ’s oil futures

    Oct 22, 2013 9:40am
    GF Securities (000776.CN) and Shenyin & Wanguo Securities are some of the early birds that have already obtained licenses or set up operations in the Shanghai Free Trade Zone in the hope that the expected launch...
  • Wumart acquires Beijing underground property, paper says

    Oct 22, 2013 9:40am
    Wumart Stores Inc., the Chinese supermarket operator, has acquired 80,000 square meters of underground space in Beijing’s Shijingshan district for 322 million yuan (US$52.85 million), Beijing Youth Daily reported Tuesday, citing unidentified sources. It acquired the...
  • Glorious Property considers privatization, HKEJ says

    Oct 22, 2013 9:39am
    Mainland developer Glorious Property Holdings Ltd. (00845.HK) suspended shares from trading on Monday, citing a possible move to go private after just four years on the exchange, the Hong Kong Economic Journal reported Tuesday. Controlling shareholder...
  • Eight punished in CRCC reception spending scandal, Xinhua says

    Oct 22, 2013 9:36am
    Eight people have been punished in a scandal involving lavish receptions at China Railway Construction Corp. Ltd. (CRCC) (01186.HK, 601186.CN ), Xinhua news agency reported Tuesday, citing Qiang Weidong, head of disciplinary affairs of the State-Owned...
  • China Metal liquidation hearing delayed to March, paper says

    Oct 22, 2013 9:34am
    Hong Kong’s High Court has decided to delay the hearing of a provisional liquidation of China Metal Recycling Holdings Ltd. (00773.HK) to March 10 next year, Singtao Daily reported Tuesday, citing a judge. In July, the...
  • Platts launches China-led thermal coal index series, paper says

    Oct 22, 2013 9:33am
    International energy data provider Platts and Fenwei Energy Consulting Co, a Chinese coal market information provider, have jointly launched the world’s first Chinese-led thermal coal price index series for the Chinese market, Securities Times reported Tuesday....
  • 4G network costs weigh down China Mobile

    Oct 22, 2013 9:32am
    China Mobile Ltd. (00941.HK) announced after market close Monday weaker earnings for the first nine months of the year. The world’s biggest mobile carrier, which has more than 755 million subscribers, said its net profit edged down...
  • Spanish bank crisis spells opportunity for Chinese lenders

    Oct 22, 2013 9:19am
    The bad loan ratio of Spanish lenders soared to a record 12.1 percent in August, according to the Bank of Spain, the country’s central bank. The ratio’s ascent had slowed in recent months but it continued...
  • Alibaba-Tencent war over messaging apps escalates, paper says

    Oct 22, 2013 9:15am
    The war between Alibaba Group Holdings and Tencent Holdings Ltd. (00700.HK) on social messaging services has escalated after Alibaba chairman Jack Ma set a mandatory expansion target for his firm’s own instant messaging application, Ming Pao...
  • Rongsheng posts 1.32 bln yuan loss for Jan-Sept, filing says

    Oct 22, 2013 8:32am
    China Rongsheng Heavy Industries Group Holdings Ltd. (01101.HK) said on Monday that it incurred a net loss of 1.32 billion yuan (US$215.95 million) for the first nine months of this year, on revenue of 2.13 billion...
  • JPMorgan China wins fund sales license, paper says

    Oct 22, 2013 8:28am
    JPMorgan China has won approval to sell funds in China, making it the first Beijing-incorporated foreign bank to do so, China Securities Journal reported Tuesday, citing a company announcement. The bank will sell renminbi money market...
  • China life insurers more promising than foreigners, paper says

    Oct 22, 2013 8:26am
    China’s 47 life insurers as a whole are better than their foreign peers in operating capability, business potential and risk management, even though they do not perform well in indicators such as net profit and operating...
  • Coalbed gas output target seen hard to achieve, paper says

    Oct 22, 2013 7:41am
    Production and usage of coalbed methane gas are currently growing at a slower pace in China and some industry insiders are beginning to worry whether the government’s output target can be achieved in the current five-year...
  • Hon Hai to make nanotech smartphones in Guizhou, paper says

    Oct 22, 2013 7:29am
    Taiwan’s Hon Hai Precision Industry Co. Ltd., which is ready to begin building its fourth-generation industrial park in Guian development zone in China’s Guizhou province, will use nano technology to manufacture smartphones at the park, China...
  • CSRC may extend margin trading contract period, paper says

    Oct 22, 2013 7:28am
    The China Securities Regulatory Commission (CSRC) is likely to extend the contract period between brokers and their clients for margin trading and short selling to one year from current six months, the Shanghai Securities News reported...
  • Trust China’s upper crust to protect the family pie

    Oct 22, 2013 7:27am
    A group of Chinese billionaires, who can easily muster more than 10 billion yuan (US$1.64 billion) in combined wealth, reportedly paid a visit to the United States this month. But their trip wasn’t to see the...
  • China Mobile net profit dips 1.9% in first 9 months, filing says

    Oct 22, 2013 7:17am
    China Mobile Ltd. (00941.HK) posted a net profit of 91.5 billion yuan (US$15.01 billion) in the first nine months, down 1.9 percent from the same period last year, it said in a regulatory filing Monday. Revenue...
  • Three eyed for farm land use rights reform, paper says

    Oct 22, 2013 7:14am
    Hangzhou, Suzhou and Guangzhou’s Nansha district are expected to make the first batch of pilot areas for land management reform, China Securities Journal reported Tuesday, citing an unnamed official. The reform will allow farm land use rights...
  • POLICY WATCH: Beijing takes the knife to industrial excess

    - Oct 22, 2013 7:13am
    Five years. That’s how long China is giving itself to cut overcapacity in a range of industries regarded as some of the biggest obstacles to economic reform. To get there, Beijing has mapped out a route...

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