Beijing criticized US plans to sell Taiwan more than US$6 billion worth of weapons as a “crude interference” in China’s internal affairs. The arms package, which includes Patriot air defense missiles, Apache helicopters and spare parts for F-16 fighter jets, was agreed to in 2001. But the deal was apparently stalled due to US displeasure [...]
China’s central bank on Sunday allowed companies to resume selling medium-term notes on the country’s Interbank Bond Market and said listed companies can use the proceeds to buy back shares. Regulators had suspended approvals for sales of medium-term notes in June. Medium-term notes, or debt notes that are usually paid back within 5-10 years, are [...]
US private equity firm Blackstone has completed its first purchase of a stake in a Chinese company, paying as much as US$600 million for a 20% stake in specialty chemicals maker China National BlueStar Group Corp, citing people familiar with the deal. Blackstone agreed in 2007 to buy the BlueStar stake from state-owned China National [...]
China’s retail sales rose 21% to US$61 billion during the week-long National Day holiday versus the same time period last year, citing data from the Ministry of Commerce. More than 18.29 million people traveled throughout the country, a 13.2% year-on-year increase, according to statistics from the National Tourism Administration. Retail sales in July grew 23.3% [...]
China stepped up efforts to contain the fallout from the tainted dairy scandal over the weekend, announcing a new survey of dairy products and issuing new quality assurance measures. The survey conducted by the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) tested more than 600 batches of liquid milk from 27 Chinese cities. [...]
China welcomed the passage of the US$700 billion US financial rescue package over the weekend, as top officials insisted that the mainland’s economy is strong enough to withstand the impact of a global credit crisis. China’s central bank said in a statement Saturday that it was pleased the bill had passed, and that “China’s financial [...]
The China Securities Regulatory Commission (CSRC) announced on Sunday that it would begin a trial program allowing securities firms to engage in margin lending and short selling. The statement, made on the CSRC website, did not give a timeline for implementation. The introduction of the new investment tools - previously rumored to appear this week [...]