From Bloomberg: China should increasingly diversify its foreign-exchange reserves to reduce the risk of losses from declines in the dollar, the country’s National Bureau of Statistics said. It should also encourage Chinese companies to invest abroad to curb expectations of a stronger yuan, the bureau today said in a statement on its Web site. U.S. […]
Read MoreFrom MarketWatch: The Chinese government has approved the construction of a joint venture refinery by China Petrochemical Corp., or Sinopec Group, and Kuwait Petroleum Corp. in southern China, a source close to the issue said Tuesday. The investment for the planned refinery is expected to total $8 billion, of which $5 billion may be from […]
Read MoreFrom Reuters: China will tighten policy more aggressively if measures already taken fail to cool the red-hot economy, a central bank official said in remarks published on Monday. “The central bank will wait and see whether the signs of a slowing trend evident in the June economic indicators continues or not. If not, the central […]
Read MoreFrom Xinhua via People’s Daily Online: A 62-kilometer state-owned railway in South China will be sold off soon, which may possibly become the first railway in China to be completely owned by non-public investors. The state-owned Luoding Railway Co., an unprofitable coal carrier servicing two undeveloped cities in South China’s Guangdong Province, has been announced […]
Read MoreFrom AFX via Forbes.com: China’s cabinet, the State Council, has approved new regulations curbing foreign capital inflows into its real estate market as it tries to rein in surging investment in the sector, the official Xinhua news agency reported. Xinhua said the regulations, which raise capital requirements and limit market access based on tenure in […]
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