What's news
Updated: 2014-04-10 07:11
(China Daily USA)
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Deutsche Bank economist to be joining central bank
Deutsche Bank AG economist Ma Jun said he's joining the People's Bank of China to get involved in economic changes that he expects will be "very aggressive". Ma will be chief economist with the central bank's research bureau, ending a 13-year stint with Deutsche Bank, according to a message Ma sent to clients this week and an internal Deutsche memo, both obtained by Bloomberg News.
CITIC seeks to list real estate trust in Shenzhen
CITIC Securities Co, China's largest brokerage by market value, won regulatory approval to issue the nation's first real estate investment trust, the South China Morning Post reported on Wednesday, citing a company document. CITIC Securities is seeking to list the REIT, backed by two office buildings worth a combined 5 billion yuan ($807 million) in Beijing and Shenzhen, on the block trading system of the Shenzhen Stock Exchange, the Hong Kong newspaper reported.
Planners begin probing proceeds of corporate bonds
China is investigating some companies' use of bond proceeds, people familiar with the matter said, as concerns mount that defaults may increase in the nation's $4.2 trillion onshore debt market. The National Development and Reform Commission, the nation's top planning agency, began conducting a nationwide special inspection of corporate bonds under its supervision in March, two people with direct knowledge of the matter said on Wednesday.
Railway operator ups number of lines it will build
China's national railway operator will raise its annual investment by 20 billion yuan ($3.23 billion) to 720 billion yuan in 2014 to increase the number of lines it plans to build, the head of the company said on Wednesday. Sheng Guangzu, general manager of China Railway Corp, was quoted by the official People's Daily as saying that the company is looking at starting construction of 48 railway projects this year, up from 44 projects in its previous plan.
Central bank governor seeks details on Shanghai FTZ
Zhou Xiaochuan, head of the People's Bank of China, on Wednesday said he wants more details about the financial reforms in the China (Shanghai) Pilot Free Trade Zone. Zhou made the remark during his visit to the FTZ to study methods of enhancing the zone's financial services. Zhou said that financial services and institutions in the FTZ need to support development of the real economy and facilitate investment and trade.
Pork producer WH to raise $4.3b in new share issue
China's WH Group Ltd, the world's largest pork processor, is looking to raise as much as $4.3 billion through the issuing of new shares in its upcoming Hong Kong listing, people familiar with the matter said. The size of the deal could grow to as much as $6 billion if WH Group's current owners, including private equity firm CDH Group, decide to sell their shares, the sources said Wednesday.
Sweet fruit A resident of Yuncheng, Shanxi province, prepares candied haws for sale. In recent years, the city implemented policies promoting production of traditional local products, including these confections. Photo by Gao Xinsheng / For China Daily |
(China Daily USA 04/10/2014 page14)
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