China Economic ReviewSpending on roads, real estate and urban factories between January and April jumped 25.5% over a year earlier, the South China Morning Post reported. Total urban fixed asset investment (FAI) totaled US$290 billion, according to figures from the National Bureau of Statistics. The growth for April was slightly higher than the 25.3% recorded in the […]
Details of a new draft regulation unveiled Thursday set out the requirements state-owned firms listed overseas have to meet before they can issue A-shares in China, the South China Morning Post reported. The China Securities Regulatory Commission would limit the issue of A-shares to firms with a minimum net profit of US$130 million. Companies that […]
The decision by Fidelity Investments to cut its PetroChina holdings by 91%, supposedly in response to pressure from human rights groups, is a brave move. Not least because since Fidelity’s latest regulatory filing on March 31 – which showed its holdings of PetroChina American Depository Receipts had fallen to 420,916 from 4.5 million on December […]
Hong Kong stocks jumped to a record high Monday after Beijing allowed mainland banks to invest in overseas stocks, the Wall Street Journal reported. The Hang Seng Index surged 511.03 points to close at 20979.29 on its busiest trading day in history. The Hang Seng China Enterprises Index, surged 5.4% to 10948.72. China issued new […]
Shares in Bank of Communications were expected to jump 52% during their Shanghai debut, the South China Morning Post reported. Such a rise would give Bocom's A shares a 40% premium over Hong Kong-listed H-shares but would be in line with the A-shares of other Chinese banks. Bocom's shares were offered at US$1.03 (RMB7.9) and […]