China

Financial News

China Will Limit IPO Trading Gains on Shenzhen's Small and Medium Board The Shenzhen Stock Exchange will impose price limits on first-day trading in smaller companies, seeking to protect investors and control speculation after China lifted its nine-month ban on initial public offerings.

India Joins Russia, China in Questioning Dominance of U.S. Dollar Reserves Suresh Tendulkar, an economic adviser to Indian Prime Minister Manmohan Singh, said he is urging the government to diversify its $264.6 billion foreign-exchange reserves and hold fewer dollars.

Teck Selling 17% Stake to Chinese Fund for C$1.74 Billion to Reduce Debt Teck Resources Ltd., Canada's largest diversified mining company, sold a 17 percent stake to China's $200 billion sovereign wealth fund for C$1.74 billion ($1.5 billion) to reduce debt.

IMF Softens Criticism of Currency Policies Before Chinese Economic Review The International Monetary Fund is softening the language used to characterize exchange rates ahead of the lender’s first report in three years on China’s economy.

China Stocks Rise, Capping Third Consecutive Weekly Gain; Datang Climbs China’s stocks rose, driving the Shanghai Composite Index to a third weekly gain, as energy producers advanced on signs power demand is recovering.

Kawasaki's China Venture to Delay Construction of Second Dock in Dalian Kawasaki Heavy Industries Ltd.’s shipbuilding venture in China will delay operations of a second dock in Dalian by three years as the global recession dries up demand.

China National Petroleum in Talks to Buy Repsol's Argentine Operations China National Petroleum Corp., the country’s biggest oil producer, is among companies that are in talks to buy Repsol YPF SA’s $12 billion Argentine operations, a Chinese government official said.

PetroChina Plans to More Than Triple Gas Output From Field in North China PetroChina Co., the nation’s largest oil and gas producer, plans to more than triple its annual natural gas output from the Sulige field in northern China in six years as demand for the cleaner-burning fuel rises.

General News

Investment Is the `Second-Best' Policy Option, Central Bank's Zhou Says China’s central bank governor Zhou Xiaochuan said boosting the nation’s consumer spending to redress global imbalances is “easier said than done.”

UN Chief Ban to Meet With Myanmar Junta Leader, Seek Suu Kyi's Release United Nations chief Ban Ki-moon arrived in Myanmar today to meet with regime head General Than Shwe and seek the release of opposition leader Aung San Suu Kyi. The two met in the capital, Naypyidaw, Agence France-Presse reported, citing a correspondent.

New HK Monetary Chief Chan Will Have a 5-Year Term, Morning Post Reports Norman Chan, who is expected to be named as the next chief executive at the Hong Kong Monetary Authority, will be given a five-year term, the South China Morning Post reported, citing people it didn't identify.

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