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GREATER CHINA DAYBOOK: G-20 Meeting; Merchants Bank Earnings

Group of 20 officials, including U.S. Treasury Secretary Timothy F. Geithner, French President Nicolas Sarkozy, Chinese Vice Premier Wang Qishan and European Central Bank President Jean-Claude Trichet attend a conference in Nanjing today.

Geithner, Wang and Trichet will meet, according to the U.S. Treasury Department. Geithner will also attend a breakfast hosted by Christine Lagarde, France’s foreign minister. The one-day seminar on the international monetary system starts at 9 a.m. local time.

* China Merchants Bank (3968 HK) posts 2010 earnings; average
net income estimate of 19 is 26.35 billion yuan ($4 billion)
* China CITIC Bank (998 HK) publishes full-year earnings;
average net income estimate of 14 is 20.9 billion yuan
* Rusal (486 HK) posts full-year earnings before market opens;
mean net income estimate of 13 is $2.02 billion
* Mengniu Dairy (2319 HK) publishes full-year earnings; average
net income estimate of 12 is 1.3 billion yuan
* Metallurgical Corp. of China (601618 CH) publishes full-year
* Geng Yansheng, the defense ministry spokesman, speaks to the
media in Beijing on the release of the 2010 white paper, 10 a.m.
* EHi Car Rental, an automobile-sharing network in China, is
considering an IPO in New York, according to two people
* Geithner meets Wang and Central Bank Governor Zhou Xiaochuan
* Hong Kong court ruling on Tony Chan’s right to appeal on Nina
Wang probate ruling. Starts at 10 a.m.
* A U.S. Senate measure blocking the EPA from regulating
greenhouse gases will help China dominate clean-energy
technology sales, Senator Barbara Boxer said.
* Kazakhstan seeks to switch to local-currency settlement of
trade with China and Russia in five years to seven years
* Sarkozy tells Chinese counterpart Hu Jintao that he wants to
avoid a confrontation over the yuan
* German Finance Minister Wolfgang Schaeuble says China is
moving toward a more-flexible yuan out of its own interest
* A deposit of 70 tons of the rare earth mineral scandium was
found in Zhejiang province, Xinhua says
* China has dropped restrictions on the number of workers that
privately owned companies can employ, Xinhua says
* A registry to funnel funds to poor countries for climate
protection is a “top priority,” China’s government says
* The Cabinet approves a 30-year environmental-protection plan
for the Qinghai-Tibet Plateau region
* China is seeking to form mechanisms to foster cooperation with
Taiwan on early warning and disaster response, Xinhua says
* Brazil’s growing reliance on imported Chinese goods threatens
producers there, says James Bacchus, a WTO official

S&P 500 gains 0.7 percent to 1,328.26
Dow Jones Industrial advances 0.6 percent to 12,350.61
Russell 2000 Index gains 1.3 percent to 840.28

ECONOMY (local times):
* Hong Kong February retail sales, 4:30 p.m.

* People’s Bank of China sells 26 billion yuan of three-month
bills, 10 a.m.

* Rusal (486 HK)
* China Merchants Bank (3968 HK)
* Metallurgical Corp. of China (1618 HK)
* China Citic Bank (998 HK)
* Melco (200 HK)
* Mengniu Dairy (2319 HK)

EQUITY MOVERS: Selected stocks that may rise or fall:
* Agricultural Bank (1288 HK) President Zhang Yun says he’s
optimistic about the outlook for the bank and the world economy
* Bank of Communications (3328 HK) 2010 net gains 30 percent to
39 billion yuan; mean estate was 38 billion yuan
* Baoshan Steel (600019 CH) full-year net more than doubles to
12.9 billion yuan; mean estimate of 19 was 12.69 billion yuan
* BBMG (2009 HK) plans to issue up to 2.6 billion yuan of
debentures, including short-term bonds and medium-term notes
* Bright Dairy (600597 CH) full-year net gains 59 percent to
194.4 million yuan; mean estimate of four as 192 million yuan
* Brightoil (933 HK) awards a 1 billion yuan gas-field
construction contract to a unit of China National Petroleum
* BYD Co. (1211 HK) buys back confiscated real estate in Shaanxi
for 59 million yuan, gets permission for leasing joint venture
* China Eastern Airlines (670 HK) 2010 net surges 29-fold to
4.96 billion yuan; mean estimate of 17 was 5.4 billion yuan
* China Merchants Holdings (144 HK) may double capital spending
to HK$2 billion and add port projects in Vietnam and Sri Lanka
* China National Building Material (3323 HK) 2010 net income
gains 43 percent to 3.37 billion yuan
* China Natural (8250 HK) buys shop space in Hong Kong’s Shatin
district for HK$40.4 million
* China Ocean Shipbuilding (651 HK) adjourns its earnings board
meeting until this afternoon
* China Railway Construction’s (1186 HK) full-year net income
drops to 5.2 billion yuan from 6.6 billion yuan in 2009
* China Railway Group (390 HK) 2010 net gains 8.9 percent to 7.5
billion yuan; average estimate of 12 was 8.05 billion yuan
* Dongfang Electric (1072 HK) 2010 net rises to 2.6 billion yuan
from 1.68 billion yuan
* Fosun (656 HK) plans to invest in Japanese companies which
will be seeking funds for rebuilding after the earthquake
* Foxconn International (2038 HK) posts 2010 net loss of $218.3
million; mean estimate of seven was for a $202 million loss
* Galaxy Entertainment (27 HK) expects Macau’s gaming revenue
growth this year will be similar to that of 2010
* GD Power (600795 CH) 2010 net income drops 3.8 percent to 2.4
billion yuan; average estimate of five was 2.01 billion yuan
* Huadian Power (600027 CH) full-year net income drops 82
percent to 208 million yuan
* ICBC (1398 HK) fourth-quarter net climbs 33 percent to 37.9
billion; average estimate of 19 was 36.6 billion yuan
* ICBC (1398 HK) says credit may expand at the slowest pace in
three years, Chairman Jiang Jianqing says
* Kaisa (1638 HK) will buy land in Foshan, China, for 1.05
billion yuan including assumed debt
* Pegatron (4938 TT) plans to invest an additional $35 million
in an electrical plating company in China
* Qingdao Haier (600690 CH) 2010 profit gains 47 percent to 2.03
billion yuan; average estimate of nine was 1.98 billion yuan
* SAIC Motor (600104 CH) full-year profit more than doubles to
13.7 billion yuan; average forecast of 10 was 13.3 billion yuan
* SAIC Motor’s (600104 CH) board approves a planned venture with
Volvo’s China units for a renewable auto-power system
* Shangri-La Asia (69 HK) full-year net rises to $287 million
from $256 million; average estimate of four was $202 million
* Shenzhen Expressway (600548 CH) plans to sell notes
denominated in yuan
* Shenzhen Zhongjin (000060 CH) full-year net income increases
71 percent to 707 million yuan
* SMIC (981 HK) posts full-year net income of $13.1 million,
against 2009 net loss of $963.5 million
* Tsingtao Brewery (168 HK) full-year net income gains 22
percent to 1.52 billion yuan
* Weichai Power (2338 HK) full-year net income almost doubles to
6.78 billion yuan
* Xinjiang Goldwind (002202 CH) will relocate a 145 million yuan
investment to Dafeng, Jiangsu province, Xinhua says
* Yunnan Copper (000878 HK) 2010 net income gains 16 percent to
431 million yuan
* Zhongwang (1333 HK) expects sales to the U.S. and profit to
drop “substantially” on U.S. duties on Chinese aluminum
* Zijin Mining (2899 HK) 2010 net climbs 36 percent to 4.8
billion yuan; average estimate of 12 was 5.25 billion yuan

* Agricultural Bank (1288 HK) raised to “overweight” at HSBC
* China Unicom (762 HK) cut to “hold” at Kim Eng
* ICBC (1398 HK) raised to “outperform” at Keefe, Bruyette &
* Phison Electronics (8299 TT) raised to “hold” at Deutsche
* Sinopec (386 HK) cut to “hold” at Deutsche Bank
* Sinopec Shanghai (600688 CH) cut to “sell” at Bank of China

GOVERNMENT (local times):
* Geng Yansheng, the defense ministry spokesman, speaks to the
media in Beijing on the release of the 2010 white paper, 10 a.m.
* Chinese Foreign Ministry briefing, 3 p.m.
* Ren Dongming, director of the Center for Renewable Energy
Development at the National Development and Reform Commission,
will speak at the Third Photovoltaic Summit in Beijing.

BOND SALES (local times):
* People’s Bank of China sells 26 billion yuan of three-month
bills, 10 a.m.
* Agricultural Development Bank of China sells 15 billion yuan
of three-year bonds

* Ren Dongming, director of the Center for Renewable Energy
Development at the National Development and Reform Commission,
will speak at the Third Photovoltaic Summit in Beijing.

BTV HIGHLIGHTS (Hong Kong time):
* 8:10 Paul Schulte, CCB International, Global Head of Financial
* 8:20 Antony Yiu, iProspect, MD
* 8:40 Peter Redward, Barclays Bank, head of Emerging Asia
* 9:10 Pu Yonghao, UBS Wealth Management, chief investment
* 9:40 Ken DeWoskin, Deloitte China, senior adviser

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