China Economic ReviewChina will "decontrol" exchange rates and interest rates, Chinese Central Bank Governor Zhou Xiaochuan said. "We will have decontrol of interest rates and foreign exchange," he told Reuters on the sidelines of the World Economic Forum. "Our foreign exchange policy is already in a good position. [The yuan] can float in a band. We will […]
Mergers and acquisitions generated US$46.6 billion in 2005, a 34% rise on 2004, the South China Morning Post reported. However, PricewaterhouseCoopers noted this figure was dominated by a number of large deals, such as foreign investments in China's Big Four banks, and argued that 2006 would see M&A activity enter a mature phase. New measures […]
Securities companies lost more than US$120 million last year thanks to poor stock market performances, falling turnover and the suspension of initial public offerings, the South China Morning Post reported. According to unaudited results from 43 brokerages, 22 made a loss double the figure from a year earlier while combined income fell to US$1.28 billion […]
Mainland companies raised more than US$18.9 billion on the Hong Kong stock exchange last year, up 141% on 2004, the China Securities and Regulatory Commission announced. The increase in money raised from both new and secondary shares is partly due to Beijing suspending offerings in Shanghai or Shenzhen in June while it converted non-tradable state-owned […]
The runaway growth of China and India came under the spotlight at the opening of the annual World Economic Forum on Wednesday, the Wall Street Journal reported. Speaking at the meeting held at the Davos ski resort, German Chancellor Angela Merkel admitted that from leading in computer development Germany now faced stiff competition from China […]