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China News 03/2012 (Page 13)



China announces test project to expand private sector lending after credit turmoil
BEIJING — China's Cabinet announced a pilot program Wednesday to expand bank credit to entrepreneurs in a southeastern city where a wave of defaults on loans from private creditors prompted a government crackdown. Lending by individuals to ...

China's African Odyssey
Roughly one million Chinese nationals are working or doing business in Africa, from Egypt's Mediterranean shore to South Africa's Cape of Good Hope. Theirs are the faces behind China's soaring direct investment in Africa— which, according to China's ...

BoCom's 2011 Net Profit Up 30%; Dividend Slashed
SHANGHAI—Bank of Communications Co., China's fifth-largest bank by assets, posted a stronger-than-expected 30% gain in 2011 net profit due to higher interest margins and revenue from its fee-based businesses. Despite the profit gain, the state-run ...

Brazil Stocks Open Lower On US Data, China Worries
By Tom Murphy Of DOW JONES NEWSWIRES BRASILIA (Dow Jones)--Brazil's Ibovespa stocks index declined in early trading Wednesday on disappointing US durable goods data and continued worries about China and Europe. In early trading, Brazil's main stocks ...

What Do Chinese Workers Want?
The whole kerluffle about Mike Daisey's fabrications has set the stage for a more realistic and nuanced account of working conditions in China's high-tech factories. Over at The New Yorker's News Desk blog, Leslie T. Chang -- who has written a book, ...

Rumors Swirl as Mark Zuckerberg Vacations in China
By Angela Moscaritolo Shutterbugs spotted Mark Zuckerberg in Shanghai this week, setting off a firestorm of speculation that Facebook could be returning to the Asian nation, where the social network is blocked. Chinese bloggers posted snapshots of the ...

Tariffs Hurt America's Other Solar Industry
By ANDREW BEEBE The US Department of Commerce announced last week a ruling to raise trade barriers against solar cells produced in China. The preliminary determination calls for tariffs of 2.9% on cells manufactured by my company, Suntech; ...

Asian Stocks Fall on U.S. Durable Goods; Oil, Kiwi Climb
Asian stocks fell for a second day, and headed for the first monthly drop since November, as US durable-goods orders and earnings trailed estimates. The yen rose, while oil traded near a one-week low. The MSCI Asia Pacific Index lost 0.9 percent as of ...

China's Stocks Poised to Extend Drop on Profit, Baer Says
By Weiyi Lim on March 28, 2012 Chinese stocks are poised to extend their slump as the slowing economy hurts earnings, according to Bank Julius Baer & Co., which has about $286 billion in client assets worldwide. Chinese equities will probably retreat ...

Cnooc to Develop Offshore Fields, Shale Gas to Expand Reserves
Cnooc Ltd. (883), China's biggest offshore energy producer, plans to develop new fields, acquire overseas assets and develop unconventional resources such as shale gas to meet output targets. The energy explorer will start four blocks off the Chinese ...

METALS-Copper steadies; growth worries cap gains
* ShFE lead curve in backwardation for second session * Coming up: US Weekly Jobless Claims; 1230 GMT (Adds analyst comment, detail, updates prices) By Melanie Burton SINGAPORE, March 29 (Reuters) - Copper steadied on Thursday, clawing back from a more ...

TABLE-PBOC weekly open market operations at a glance
SHANGHAI, March 29 (Reuters) - The People's Bank of China (PBOC) conducted a net injection of 19 billion yuan ($3.01 billion) from the banking system this week, according to Reuters calculations. The PBOC has drained a total of seven billion yuan so ...

After Bo's ouster, a mysterious death adds to China's churning rumor mill
BEIJING — Until a week ago, few Chinese had ever heard of Neil Heywood, and fewer still raised any questions when the 41-year-old British business consultant was found dead in his hotel room. Today, he is so famous — and such a sensitive topic ...

SD governor says China trade mission productive
By CHET BROKAW Gov. Dennis Daugaard said Wednesday he believes this week's trade mission to China will give South Dakota businesses a chance to export more products to the world's most populous nation. With 1.3 billion people, China has 20 percent of ...

Chinese shares lead global retreat
By PAN PYLAS Chinese shares led global markets lower Wednesday as investors fretted over the outlook world's second largest economy and whether the US economic recovery was losing its shine. Mainland Chinese shares saw their biggest loss in almost four ...

China Boosts Borrowing Quota to $24 Billion
SHANGHAI—China will allow foreign banks this year to bring in a total of $24 billion in foreign borrowed funds—a sharp increase from last year's limit, bankers say—in an apparent effort to usher in more foreign investment as a slowing economy ...

SAIC Q4 net up 67 pct on demand for GM and VW marques
* Q4 net 6.93 bln yuan vs forecast 6.72 billion * To continue outperform rivals due largely on GM, VW cars * GM, VW plan new China plants to boost capacity * New Roewe car and other SAIC new models seen driving sales By Fang Yan and Ken Wills BEIJING, ...

European Private-Equity Chief To Leave China Wealth Fund
By LINGLING WEI And CRAIG KARMIN A top private-equity executive at China Investment Corp. has resigned, according to people familiar with the matter, joining other recent departures from the giant sovereign-wealth fund. Collin Lau, who joined CIC in ...

China Warns Against Joint Exercises in South China Seas
March 29, 2012 China Warns Against Joint Exercises in South China Seas Shannon Van Sant | Beijing Chinese officials in Beijing are warning against any joint military patrols or exercises between Vietnam and the Philippines in the disputed South China ...

Tsingtao Brewery 2011 profit up 14 pct, beats forecasts
* 2011 net profit beats forecasts * Revenues rise 16 percent * Barley costs to weigh HONG KONG, March 29 (Reuters) - Tsingtao Brewery Co Ltd , China's second-largest brewer by volume, on Thursday posted a better-than-expected 14 percent rise in 2011 ...

China's Big Banks Defend Big Profits
BEIJING—China's biggest state-run banks are mounting a spirited defense of their business after reporting 623.61 billion yuan ($99 billion) in annual profits in recent days, a roughly 30% surge that comes as the public and even some policy makers cast ...

Chinese Firm Surpasses Exxon in Oil Production
A big shift is happening in Big Oil: An American giant now ranks behind a Chinese upstart. Exxon Mobil is no longer the world's biggest publicly traded producer of oil. For the first time, that distinction belongs to a 13-year-old Chinese company ...

KFC's Big Game of Chicken
By Diane Brady on March 29, 2012 Even at nightfall, it's easy to spot signs of Ghana's growing wealth in downtown Accra—from the Toyota (TM) Land Cruisers scattered among honking taxis to the ripples of laughter that emanate from a packed rooftop ...

Wen's Growth Plan Draws Korea Investment, HI to Consumer
By Saeromi Shin on March 29, 2012 Korea Investment Corp. (KRINVTZ) and HI Asset Management Co., awarded permission to invest in mainland China, expect consumer stocks to benefit from government efforts to reduce the Chinese economy's reliance on ...

China's Stocks Rise, Poised for Best Quarterly Gain in a Year
By Bloomberg News on March 29, 2012 China's stocks rose, pushing the benchmark index to its best quarterly performance in a year, on better-than-estimated earnings from banks and speculation the government will accelerate measures to boost economic ...

Case Based in China Puts a Face on Persistent Hacking
SAN FRANCISCO — A breach of computers belonging to companies in Japan and India and to Tibetan activists has been linked to a former graduate student at a Chinese university — putting a face on the persistent espionage by Chinese hackers against ...

Yuan Heads for First Quarterly Drop Since 2009 on Slowing Growth
By Fion Li on March 29, 2012 The yuan was poised for its first quarterly decline since December 2009 after Premier Wen Jiabao set the annual growth target at the lowest level in seven years. The currency rose today ahead of a factory report that is ...

METALS-Copper up, on track for 10 pct Q1 advance
* Doe Run declares force majeure on US lead output * China official PMI due on Sunday * Coming up: Chicago PMI for March at 1345 GMT (Adds analyst comment, detail, updates prices) By Melanie Burton SINGAPORE, March 30 (Reuters) - London copper climbed ...

China Communications to Run $3.2 Billion of Roads, Bridges
China Communications Construction Co. (1800), the nation's biggest builder by market value, plans to more than double the assets of a unit managing toll-roads and bridges to shield earnings from swings in construction demand. The company plans to boost ...

US and China Joust for Influence in Myanmar
HSIPAW, Myanmar — As Chinese workers in hard hats and red overalls bulldoze deep trenches into the orange soil across northern Myanmar for gas and oil pipelines to China, China's largest energy conglomerate is paying cash for land and trees in the ...


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