China Economic ReviewAllen Johnson, the US's chief agricultural trade negotiator, has raised complaints from the American farm industry with Chinese officials that China was exporting farm produce at prices below the estimated cost of production, the Financial Times said. The immediate concern was China's sale of 3m tonnes of maize to South Korea earlier this year, but […]
Bank of China Hong Kong launched its initial public offering in Hong Kong in July, becoming the first big four bank to sell shares to foreign investors. Bankers said the public sale was oversubscribed by 25 times. The bank priced the issue at HK$8.50 a share for institutional investors with a 5 per cent discount […]
The China Securities Regulatory Commission said in July that individual foreign firms are allowed to invest in at most two domestic fund management companies and can be the biggest single shareholder in only one of them, Reuters reported. The maximum size of a foreign stake is currently 33 per cent but this will rise to […]
Insurance companies in China spent Yn119m on television advertisements in the first four months of this year, 92 per cent more than in the same period of 2001, said CVSC-TNS Research. The top spenders were Ping An Insurance, People's Insurance Co of China, China Life, China Pacific Insurance and Germany's Allianz Group. In 2001, the […]
The listed arm of Sanjiu Enterprises, China's largest pharmaceutical group, has been fined Yn500,000 and its directors between Yn30,000 and Yn100,000 each for failing to disclose information, South China Morning Post said. A routine investigation by the China Securities Regulatory Commission last year found Shenzhen-listed Sanjiu Medical and Pharmaceutical had not disclosed large transactions with […]