China Life Group Sells CITIC Securities Shares for Fat Profit
Looking at a 321% rise in value of the 150 million shares of additional offering from CITIC Securities that it picked up in 2006, the China Life Insurance (Group) Company, parent company of China Life Insurance Company, Ltd. (China Life), now wants to cash some of it in.
The China Watchdog Failure and Market Debacle
Doubts over a securities company listing and suspicions of corruption in financial supervision triggered by those doubts are further depressing the sinking A-share market. Laxness in supervision and excessive supervisory latitude are among the main reasons China has failed to establish a fully market-oriented and dependable stock market.
Rogers to Chinese Investors: Don't Sell, Even Amid the Worst
China's stock market has plummeted by nearly 60% since the middle of October last year, and the recently and unlamentedly departed June has been labeled by many investors "the worst month ever," but Jim Rogers, the famous American investor, still urges Chinese investors not to sell their shares and instead to wait for another bull round, which he says may hit 10,000 points.
Central Asia Pipeline to Secure Gas for China
The China National Petroleum Corporation (CNPC) has announced the start of construction for the China-Central Asia gas pipeline, China's first cross-border gas pipeline. A senior official in CNPC told China Business News that the company had started building the China- Kazakhstan section on June 9, and construction of all sections of the pipeline has been launched.
Coal Prices Driven Up 8 Weeks Running by Tight Supply and Speculation
China's temporary price intervention on power coal is not working. Tight supply and speculation have forced up power coal prices for 8 straight weeks.
Leading Economic Indicators Warn of China Downturn
Looking to the future in 2007, China's central government set out the "two prevents" principle: prevent the economy from overheating and inflation from growing. Since then inflation has risen over the 8% mark, though it fell back below that a bit in May. But now Beijing is worried about a possible economic downturn and is hesitant about maintaining a tight credit policy to curb inflation. Some leading indicators suggest an economic slowdown is already reality.
Focus Media Wireless Business Losing Money and People
Focus Media has lost nearly $79 million in its wireless business and has recently dismissed over 200 staff in departments including marketing, media research, 3G, cooperation and business expansion, among others.
Bain Capital Set to Win Huawai Mobile Phone Business
Huawei hopes to enter the US market and reduce the risks in the competition with Nokia and Samsung by selling its mobile equipment business to a PE.
Foreign Laid-offs May Fill Gaps in Chinese Pilots Ranks
Due especially to increasing international oil prices, many US airlines have recently begun to reduce the number of their flights and lay off employees, including pilots, offering emerging markets such as China great recruitment opportunities.
Shanghai Cannot Avoid Housing-Price Slump
Continuing tight credit and listless purchasing have taken Shanghai's real estate market lower this last half a year. It is possible that the sluggish market will continue for months.
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