For the first time, China publicly released figures on its emissions of greenhouse gases although the figures themselves are 10 years old. As a signatory to the UN Framework Convention on Climate Change, China is obliged to submit a report detailing its gas emissions between 1990 and 1994 to facilitate initial comparisons between countries. In […]
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Anti-graft officials are to investigate the multi-billion dollar deals foreign telecom equipment makers have secured in supplying the Chinese telecom market, the South China Morning Post reported. Among those facing investigation is US-based Lucent Technologies, which has submitted to Chinese authorities an 800-page report into possible violations of US anti-corruption law involving its China operations, […]
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Citigroup expands NPL presence
Citigroup is to pay US$108m for a stake in Hong Kong-based Silver Grant International Industries as part of a deal establishing a joint venture to buy mainland non-performing loans. Under the deal Citigroup will hold 16.4% of Silver Grant, a company partly owned by China Cinda Asset Management, the biggest buyer of bad loans in […]
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Stamp duty cut approved
China's State Council has approved a plan to reduce stamp duty on share transactions, the Shenzhen-based Securities Times said. But neither the amount of the cut nor the date for implementing it were given by officials quoted in the report. Currently stamp duty is 0.2% of the total transaction, higher than in many developed and […]
Three Chinese state-owned companies have signed contracts to finance and construct a US$1.38 billion mine, rail and port project in Western Australia. The project brings together China Railway Engineering Corp, China Metallurgical Engineering Construction Group Corp and China Harbor Engineering Corp with Australia's Fortescue Metals Group Ltd (FMG) to develop the Christmas Creek mine. Construction […]