PBOC and banking regulator deny 'turf war' reports

Chinese banking authorities criticized on Thursday two Financial Times reports for alledging a turf war between the People's Bank of China, the central bank, and China Banking Regulatory Commission is hampering policy coordination. "The PBOC and CBRC always coordinate with each other and work together to promote reform, development and stabilization in China's financial sector," said their joint announcement.

Government will ban imports of low-quality coal: Official

China plans to ban imports of coal with high proportions of ash or sulfur as the nation seeks to limit the dirtiest fuels to fight pollution. The world's largest coal user will encourage imports of higher-quality supplies, according to Ren Lixin, the head of the coal division at the National Energy Administration. Domestic demand for the fuel may rise "slightly" this year, and imports are expected to be similar to 2013 levels, he said on Thursday.

Yuan-denominated iron ore swaps may start next month

The Shanghai Clearing House said it may introduce yuan-denominated iron ore swaps as early as next month as China seeks greater influence in pricing the steel ingredient. The State-owned exchange, which mainly services the interbank currency and debt markets, started a trial of the swaps on March 19 and could begin full trading "around late May or early June", Yao Ling, an official from the bourse's business innovation department, said on Wednesday.

Australia aiming to wrap up free trade deal by November

Australia is looking to conclude decade-long negotiations on a free trade agreement with China by November, Foreign Minister Julie Bishop said. Disagreements persist for now, with Australia seeking greater access to China's agriculture market and Chinese leaders pushing for increased investment opportunities, Bishop said in an interview at the Boao Forum in Hainan province. "We've had 19 rounds of negotiations since 2005, and I think both sides agree that the 20th round is about time to conclude an agreement," she said.

CSR unit wins bid to supply new-energy buses in Brazil

CSR Zhuzhou Electric Locomotive Co, a subsidiary of CSR Corp Ltd, said it has beaten foreign rivals, including Mercedes-Benz, Volvo and Brazilian brands Marcopolo and NEOBUS, to supply new-energy buses in Curitiba, Brazil. The successful bid will help the company establish a good reputation in South America and marks an important step in the global expansion of China's new-energy automobile industry, the company said.

(China Daily 04/11/2014 page18)