Third economic census due later this year

The third national economic census will be launched on Dec 31, the National Bureau of Statistics said on Tuesday. Preparation of the census is well under way. It will deal with figures including the number of employees, financial situation, production and operating status, and production capacity. Modern information technology such as handy electronic devices and electronic maps will be used during the survey.

China Huaneng Group markets dollar bonds

China Huaneng Group Corp is marketing US dollar-denominated bonds after borrowing costs for companies in Asia outside of Japan climbed to the highest in almost 11 months. The State-owned power generator is offering five-year notes at about 245 basis points more than Treasuries, a person familiar with the matter said on Tuesday. China Longyuan Power Group Corp and Hilong Holding Ltd may also sell dollar bonds. The average yield on debt by issuers in the region rose to 5.08 percent on Monday, a level unseen since July 12, according to JPMorgan Chase & Co index data.

Golden Agri-Resources to remain profitable

Golden Agri-Resources Ltd, the second-biggest palm plantations operator, expects to maintain profitability at its China unit as a drop in soybeans and higher selling prices improve earnings in oilseed processing. "Currently the environment there is quite stable, and therefore we should be able to continue with the positive performance that we achieved in the first quarter," Chief Financial Officer Rafael Buhay Concepcion Jr said. The Singapore-based company reported first-quarter profit at its China unit of $6 million, after losses at the business in the preceding three quarters.

Nation expects to play bigger role in energy markets

China, consuming about half the world's coal supply to produce power, must play a greater role in regulating global energy markets and climate protection, according to the World Energy Council's secretary general. The world's most populous nation should send stronger signals to prevent average temperatures from rising more than 2 degrees C, said Christoph Frei of the London-based group that promotes access to energy and sets rules for trading. China may join emerging nations including Brazil, Russia and India in backing a development bank, and it may widen its role in United Nations-overseen climate talks, he said on Sunday in an interview from London. "The pressure for China to take a greater role is increasing," Frei said.

Private investors may gain access to infrastructure

The Guangzhou government is expected to invite private investors to participate in 128 major projects covering infrastructure, industry and development, according to AAStocks.com Ltd. The projects, awaiting approval, are worth nearly an estimated 300 billion yuan ($48.4 billion). Pan Jianguo, director of Guangzhou Municipal Development and Reform Department, said the investment for subway construction, which used to depend entirely on government loans or enterprise bonds, needs to be boosted. He said it is feasible for the local government to develop major projects with the participation and operation by private investors.

International Sugar Council briefed on Fijian reforms

The chair of the International Sugar Organization and Fijian Prime Minister Voreqe Bainimarama on Tuesday briefed more than 100 delegates of the 43rd Session of the International Sugar Council on the comprehensive series of reforms undertaken by the Fijian government in the sugar industry. The five-day meeting officially opened on Tuesday morning in the Fijian resort town of Nadi. The Fijian government is sparing no effort to revitalize the country's sugar industry as it remains a major economic driver providing livelihoods for 200,000 Fijians, which is more than 20 percent of Fiji's population, Bainimarama said.

Intelligent transportation system due in 2015

China will build an intelligent transportation system by 2015 to tackle traffic congestion and save energy. The government may prioritize the development of intelligent signals for public transportation in an effort to boost traffic efficiency, said Wu Zhongze, chairman of the China Intelligent Transportation Systems Association. A transportation information platform will also be released so that the public can access data on latest traffic conditions, Wu said during the Internet of Things China 2013 Conference and Exhibition in Shanghai.

COFCO buys cargo of Argentine corn

COFCO Corp, China's largest grain trader, bought the nation's first cargo of Argentine corn since the two countries signed an import agreement in February 2012, according to two people with direct knowledge of the deal. The 60,000-metric-ton Panamax-ship order will be filled from the recently harvested crop and shipped by the end of July, said an Argentine agricultural official and an executive from a Chinese trading company.

China Daily - Agencies

(China Daily USA 06/05/2013 page14)