PRESS DIGEST - China - Oct 23
BEIJING/SHANGHAI, Oct 23 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Thursday. Reuters has not checked the stories and does not vouch for their accuracy.
SHANGHAI SECURITIES NEWS
-- Huaxia Bank Co Ltd (600015.SS) has successfully completed a placement of 7.9 million shares with Deutsche Bank (DBKGn.DE) and two other institutions, raising 11.56 billion yuan ($1.63 billion), despite a slump in the stock market that has forced other placements to alter price terms and had left the pricing of its placement well above its share price in the secondary market.
-- Private equity investment in China fell sharply in the third quarter, according to a report by ChinaVenture. Only 19 cases were disclosed, down 42 percent from a year earlier, and the amount of investment was down 17 percent at $2.1 billion.
CHINA SECURITIES JOURNAL
-- Anhui Hengyuan Coal Industry and Electricity Power (600971.SS) plans to purchase 3.1 billion yuan in coal mines and other assets from a major shareholder via a placement of new shares and cash.
-- The Shanghai Stock Exchange is actively working to improve a bulk transaction system to handle large transactions of shares that become tradeable after the expiry of lockup periods, as part of an effort to stabilise the market environment, an exchange official said.
SECURITIES TIMES
-- China Reinsurance (Group) Corporation and Everbright Bank have formed strategic partnership to cooperate in the banking and insurance sectors.
CHINA BUSINESS NEWS
-- The State Administration of Foreign Exchange plans to set up an international reserves bureau to replace the current reserves management bureau, to shift the focus to research on foreign reserves policy and strategy, according to an unnamed source.
FINANCIAL NEWS
-- The Industrial and Commercial Bank of China (0349.HK) (601398.SS) opened its Qatar branch in Doha.
CHINA DAILY (www.chinadaily.com.cn)
-- The attack on mainland scholar Zhang Mingqing in Taiwan will not hinder cross-Straits dialogue, said Chen Yunlin, chief of the mainland-based Association for Relations Across the Taiwan Straits.
PEOPLE'S DAILY
-- Chinese Premier Wen Jiabao and his Japanese counterpart, Taro Aso, exchanged congratulatory messages to mark the 30th anniversary of the signing of the China-Japan Treaty of Peace and Friendship. (Compiled by Beijing and Shanghai Newsrooms; Editing by Edmund Klamann)
