News
3/30/2007

Jiangsu Chengde To Sell Steel Stake To Carlyle Group__Wall Street Journal
Jiangsu Chengde Steel Tube Share Co. has signed an agreement with Carlyle Group LP to sell its 49% stake in Yangzhou Chengde Steel Tube Share Co., an employee at Jiangsu Chengde Steel said.

Citigroup Plans Bigger Push In International Operations
__Wall Street Journal
Citigroup said it plans to roughly double its China branch network this year, expanding its presence in a key growth market as it considers cutting jobs elsewhere.

Cnooc Shareholder Vote Puts Spotlight on Risky Lending Move
__Wall Street Journal
A Cnooc shareholder vote lays bare a widespread practice that investor advocates say is a little-understood risk of investing in China's stocks: the loaning of money from a company that is publicly traded to an affiliate that isn't.

Trade Barriers Remain in China, U.S. Official Says
__Wall Street Journal
American businesses are having a hard time operating in China because of trade barriers that remain despite efforts by Beijing to keep World Trade Organization commitments, a U.S. trade official said.

Karachi and Shanghai exchanges agree links
__Financial Times
The Karachi stock exchange will sign a memorandum of understanding for technical co-operation with the Shanghai stock exchange, according to a senior KSE official.



3/29/2007

Citic Bank IPO Approved__Wall Street Journal
China Citic Bank has received Hong Kong approval to raise $4 billion to $5 billion in its IPO ahead of a dual listing.

China and Russia Sign Deal To Boost Bilateral Trade
__Wall Street Journal
China and Russia signed a $4.3 billion deal to boost bilateral trade, China's Ministry of Commerce said yesterday.

Chinese Puzzle:Is Loan Valid, Or Shell Game?
__Wall Street Journal
Cnooc's independent shareholders will vote on whether to let the company sock away cash with a unit of its state-owned parent. The vote lays bare a widespread practice that investor advocates say is a little-understood risk of investing in China's stocks.

China forms body to push service sector
__Financial Times
China announced the creation of a “leading group” of top officials charged with reducing the country’s reliance on industry by promoting faster development of the service sector.

US official warns China to open markets
__Financial Times
China could pay a political price in Washington for not doing more to open its markets in sectors ranging from aviation to financial services, a senior US official said on Thursday.

Citigroup to double outlets in China
__Financial Times
Citigroup, the world’s largest bank by market capitalisation, plans to double its China outlets to more than 30 by the end of this year, chairman and chief executive Chuck Prince said in Beijing.

Global lender banks on expansion
__Financial Times
Approval for a China subsidiary will fuel Standard Chartered’s ambitions as the UK-listed bank readies itself for a major push into the market.


3/27/2007

To Play China, They Skip the Exchange__Wall Street Journal
Some hedge funds, searching for smart investments in China, increasingly are opting for privately negotiated deals rather than buying shares on the open market.

China to Launch Trading in Bonds Not Yet Issued
__Wall Street Journal
China's Ministry of Finance plans to further develop the country's bond-pricing mechanism with the launch of trading in when-issued bonds in the third quarter.

Democracy in Hong Kong
__Wall Street Journal
A vote for freedom, despite Beijing's rigged ballot.

Retailers shift supply chain tasks to China
__Financial Times
Retailers and consumer goods companies in the developed world are increasingly shifting logistics operations from their home countries to China.

China bolstered by A-share reports
__Financial Times
Chinese stocks extended their record-breaking run yesterday after reports that the government was thinking of increasing the amount foreigners can invest in local-currency securities.

China leads way on cargo shipped overseas
__Financial Times
East Asian goods are increasingly sorted, wrapped and priced before they leave for export to western countries.


3/26/2007

Intel Aims to Build Bigger Profile in China__Wall Street Journal
Intel plans to build a $2.5 billion chip-fabrication plant in China, betting that a bigger profile in the fast-growing market is worth the risk.

Shanghai to Be Led by Rising Star With a Pro-Market Reputation
__Wall Street Journal
China appointed a pro-market rising star as Communist Party secretary of Shanghai, to help stabilize the city after a corruption scandal.

Citigroup Case Tests Australia Law
__Wall Street Journal
Australia will begin a legal showdown today with Citigroup that may test conflict-of-interest laws.

To Play China, They Skip the Exchange
__Wall Street Journal
Some hedge funds, searching for smart investments in China, increasingly are opting for privately negotiated deals rather than buying shares on the open market.

Deutsche aims to incorporate China offshoot__Financial Times
Deutsche Bank, Germany's biggest bank, is to take advantage of Chinese liberalisation that will allow foreign commercial banks to expand product offerings and branch networks on the mainland.

Tsang wins second HK term
__Financial Times
Donald Tsang, Hong Kong’s incumbent chief executive, easily won a second term after securing more than 80 per cent of votes cast by a rubber-stamp “election committee”.



3/23/2007

Soon Made in China: High-Tech Products__Wall Street Journal
Intel's plans to build a $2.5 billion integrated-circuit plant in China highlight the speed at which the country is moving into high-tech manufacturing.

Offering Riches in China
__Wall Street Journal
A bonanza of IPOs in China this year may yield rewards for the joint ventures of foreign brokerage firms.

China Bond Revamp Stalls
__Wall Street Journal
Two months after Premier Wen Jiabao vowed China would "vigorously" develop its corporate bond market, there is little sign of progress in dismantling the regulatory barriers that have long hindered attempts by companies to use the market to raise essential funds.

Blackstone Aims To Keep Control As Public Entity
__Wall Street Journal
Blackstone filed for an IPO to raise about $4 billion. The private-equity firm disclosed it made over $6 billion in profit in the past five years and built a $79 billion portfolio.

Bank of China Net Rises 65%
__Wall Street Journal
Bank of China Ltd. reported a higher-than-expected 65% rise in 2006 net profit amid a reduced tax expense and strong lending growth.

China biggest source of exports to EU
__Financial Times
China displaced the US as the largest source of European Union imports last year, official figures showed, raising fears about the continent’s industrial competitiveness.



3/22/2007

China Scours Asia for Coal__Wall Street Journal
China's state-owned coal companies are scouring Asia for coal reserves as the need to feed a national economy expanding in the double digits each year pushes the country's mining system to its limits.

ProLogis's China Growth Gives REIT a Leg Up on Its U.S. Rivals
__Wall Street Journal
As the shine wears off U.S.-listed REITs as they look expensive given the uncertain outlook for the American economy and property, one is retaining fans in part because of growing income from a country with an economy that remains hot: China.

China Index Hits Record, Leads Gains in Region
__Wall Street Journal
Chinese stocks rose to a record, recovering from their late February swoon that sparked a selloff in global financial markets.

Nikko AM makes foray in China
__Financial Times
Nikko Asset Management has become the first Japanese fund house to expand into the $110bn Chinese mutual fund market by acquiring a 20 per cent stake in Rongtong Fund Management, a mid-sized local firm.

SEC eases foreign groups’ exit from US
__Financial Times
The US removed one of the most frustrating regulatory burdens afflicting foreign companies with US listings by making it easier for them to escape compliance with the Sarbanes-Oxley law.


3/21/2007

Beijing Clears the Path A Bit for Foreign Banks__Wall Street Journal
Four foreign banks received a key approval from Chinese authorities to establish their own locally incorporated units.

In Chinese Province, Bling From Bribes Goes Up for Bid
__Wall Street Journal
Auctions involving corrupt officials' goods are becoming increasingly common as China's Communist Party, in the midst of a corruption crackdown, deals with an awkward problem: what to do with so much ill-gotten stuff.

China Cellphone Buildout Leans on Local Standard
__Wall Street Journal
China has been pushing ahead with a multibillion-dollar program to build a mobile-phone network based on TD-SCDMA, its homegrown standard.

Bank of China Is Researching Overseas Deals
__Wall Street Journal
Bank of China Ltd. said it is looking into further overseas acquisitions after spending nearly $1 billion on an aircraft-leasing company last year.

FedEx Raises Stakes in China Markets
__Wall Street Journal
FedEx Express announced that it would offer overnight domestic express service to 19 cities in China beginning May 28. The FedEx subsidiary will also provide day-definite deliveries to more than 200 Chinese cities.

RBS and Bank of China launch high-end business
__Financial Times
Royal Bank of Scotland and Bank of China, the country’s second-biggest lender, has launched a private banking business targeting rich Chinese with more than $1m to invest.

China postal bank opens for business
__Financial Times
China’s revamped postal ­savings system opened for business as the country’s fifth biggest bank, pledging to improve its reach in rural areas where financial services and capital are scarce.



3/20/2007

China Bets on Rails to Spur Wealth __Wall Street Journal
China, worried about the wide income gap between its highly developed coastal areas and its lagging interior, is looking to railways to help spread the wealth.

For India and China, Credit Poses a Challenge
__Wall Street Journal
As Asia's big developing nations build American-style consumer-based economies, they seek to rev up consumer spending by promoting mortgages and other loans while sidestepping the potential pitfalls of consumer credit.

Shanghai Shares Surge, Despite Rate Rise
__Wall Street Journal
Investors in China shook off the country's first rate increase of the year, pushing Shanghai's index above 3000 for only the second time and near the record high that last month prompted a global market rout.

Drilling Kids in Chinese
__Wall Street Journal
Some CEOs are urging their children to take Mandarin as a way to get an edge in a global economy increasingly dominated by China. But for these would-be Mandarin prodigies, it can be a tough sell.

Bear Stearns and Gome form retail fund
__Financial Times
Bear Stearns has joined forces with Huang Guangyu, the founder of the Chinese electronics retailer Gome, to set up a $500m fund to invest in new retail businesses in the country.

Lawsuits fail to dent pirated DVD sales in China
__Financial Times
When foreigners move to Shanghai, they receive tips on the popular places to buy things – Carrefour for food, Ikea for furniture and Ka de Club for fake DVDs.

FedEx offers next-day deliveries in China
__Financial Times
FedEx is to launch guaranteed next-day deliveries within China for the first time in May, highlighting the increasing sophistication of transportation and logistics services in the country.



3/19/2007

China's Rate Boost Shows Economy's Vigor __Wall Street Journal
China raised interest rates, aiming to temper investment and steady the financial system, in a move that shows how vigorous growth there remains, even as clouds loom over the economies of its trading partners.

Carlyle to Buy Less of Chinese Firm
__Wall Street Journal
Carlyle is again reducing the stake it is buying in a Chinese construction-machinery maker, amid growing criticism there of acquisitions by foreign firms.

China Says Its Moves Won't Rattle Markets
__Wall Street Journal
China's Wen sought to ease concerns over government efforts to resolve structural problems in the country's economy, overhaul stock markets, and diversify its foreign investments during his annual press conference.

China Widens Futures Rules' Scope
__Wall Street Journal
hina has expanded the scope of rules governing futures contracts to make them applicable to financial futures and options, a move that paves the way for introducing the long-awaited stock-index futures and other financial derivatives, state media reported over the weekend.

Warning to foreign banks in China
__Financial Times
Intense competition in China could prevent foreign banks from profiting from their investments in credit card and mortgage ventures for another 10 years, according to a KPMG report.

China Everbright Bank to expand retail business
__Financial Times
China Everbright Bank, a mid-sized mainland lender, is planning a shift in strategy to significantly expand its retail banking business.

US agrees to China joining IADB
__Financial Times
The US has withdrawn its opposition to China joining the Inter-American Development Bank, allowing formal talks over its membership of the region’s biggest development institution to begin.

Singapore feels China's pulling power
__Financial Times
Multinational technology companies are increasingly moving their Asia-Pacific headquarters from Singapore to Shanghai in a reflection of the pulling power of the China market.



3/16/2007

Seeds of Democracy in Hong Kong __Wall Street Journal
Alan Leong's campaign for the leadership of Hong Kong is shaking up the political order by contesting the process of choosing the city's top leader.

China Citic Bank Sets IPO Goal
__Wall Street Journal
China Citic Bank aims to raise about $2.5 billion in an IPO ahead of listings in Hong Kong and Shanghai in April.

China Auto Makers to Sell Shares In Bid to Capitalize on Car Boom
__Wall Street Journal
China's auto industry is poised to start flooding equity markets in Shanghai and in Hong Kong with new shares. The country's unprecedented car boom is driving the trend.

China Resources to Sell Noncore Unit __Wall Street Journal
China Resources Enterprise Ltd. said it will sell its petroleum-distribution business in Hong Kong to China Petroleum & Chemical Corp., or Sinopec, for HK$4 billion, or about US$512 million.

China Reports Strong Growth In Factory Output
__Wall Street Journal
China posted strong industrial-output growth in the first two months of the year, adding to recent data signaling that further tightening measures may be needed to cool the economy.

Shanghai commands premium over Hong Kong
__Financial Times
Shanghai looks set to overtake Hong Kong for equity issuance this year as mainland investors are prepared to pay a premium for for dual listed companies.

China to quadruple agri-biotech spending
__Financial Times
The Chinese government is expected to more than quadruple its spending on biotechnology by 2010 as part of its strategy to improve national food security.

China’s Wen says forex move won’t harm dollar
__Financial Times
Wen Jiabao, China’s premier, sought to reassure global currency markets by saying the new agency being established to invest part of the country’s foreign exchange reserves would not harm the US dollar.



3/15/2007

Beijing Chases Shanghai As a Banking Hub __Wall Street Journal
Beijing is encouraging foreign banks to base themselves there as it competes with Shanghai to become China's financial center.

Yahoo Is Cleared in Case Of Chinese Journalist
__Wall Street Journal
Hong Kong authorities cleared Yahoo's local unit of any liability for sharing a mainland journalist's email account with China's State Security Bureau.

Broadway Hits China's Big Stage
__Wall Street Journal
A new joint venture plans to market tours of Broadway shows throughout China, and will also help design theaters.

Citigroup Sets China Growth
__Wall Street Journal
Citigroup Inc. said it plans to boost its staff in China by 25% this year and open new outlets in the country. It also hopes to increase its stake in Shanghai Pudong Development Bank Co.

Beijing sets deadline for banks on Basel II
__Financial Times
Beijing has for first time set a deadline for its implementation of the Basle II accord on banking regulation, amid growing pressure on Chinese lenders to toughen up their risk management systems.

Citic steps up search for oil and gas supply
__Financial Times
Citic Group, Beijing’s investment vehicle, is adopting an aggressive acquisition strategy to secure oil and gas deposits needed to meet China’s energy needs.

Jiangsu sets the pace on how to assess officials
__Financial Times
Jiangsu is one of the first Chinese provinces to rank officials with a new system using 25 benchmarks to assess education, medical, energy and environmental standards, on top of economic measures.

China’s industrial output surges 18.5%
__Financial Times
China’s industrial production growth surged at the start of the year, reinforcing expectations that Beijing will soon tighten policy afresh to prevent the world’s fourth-largest economy from overheating.



3/14/2007

China Clears Intel Chip Plant, Marking a Potential Milestone __Wall Street Journal
China approved plans by Intel to build an advanced chip plant, a project that would mark a major step for China's effort to attract high-tech investments.

China Inflation Picks U
__Wall Street Journal
The pace of inflation in China picked up in February, figures issued yesterday show, and economists said it could gather steam later in the year as the economy continues to power ahead.

Hua Xia Bank Profit Grows 14%
__Wall Street Journal
Hua Xia Bank posted 14% growth in its 2006 net profit on strong loan growth.

Property Owners Feel Right at Home in China
__Wall Street Journal
Chinese lawmakers are expected to pass a landmark property law that will finally put on paper what has already been true in fact: China is a land of private property, with some of the highest rates of homeownership in the world.

China's Inland Frontier Beckons
__Wall Street Journal
The modernization and continued growth of huge but lesser known urban centers in China's interior presents the latest challenge for foreign companies doing business here: laying the groundwork on a potentially rich frontier, beyond the coastal cities where markets are becoming saturated.

China blazes a trail to tame its west
__Financial Times
Foreign investors with deep pockets are the most sought-after factor to help the country’s most underdeveloped regions.

Swiss insurer covers new ground
__Financial Times
Zurich Financial Services is targeting Chinese companies expanding overseas who are requiring increased risk protection.

Nokia China hit with discrimination suit
__Financial Times
A Chinese job applicant ­filed a lawsuit against Nokia alleging that a local unit of the Finnish telecommunications equipment company refused to employ him because he is a carrier of the Hepatitis B virus. 


3/13/2007

China Asks for Patience as Its Trade Surplus Widens __Wall Street Journal
Chinese officials said policies to reduce their nation's enormous trade surplus need time to show results, as new figures showed the gap continuing to widen in the first two months of 2007.

Hong Kong IPOs Cool Off
__Wall Street Journal
Mainland China IPOs will raise more money than IPOs in Hong Kong this year, according to the CEO of HKEx.

Beijing Is Upbeat On GDP Outlook, Central Bank Says
__Wall Street Journal
The outlook for China's economy is "very good," the deputy governor of the People's Bank of China said.

More Chinese Graduates Return Home
__Wall Street Journal
While many Chinese students at U.S. business schools still covet a visa that will allow them to work in America, career-service directors say a growing number are much more willing to return to their homeland after graduation.

Chinese Call for Fewer Executions
__Wall Street Journal
China, the world's leading executioner of prisoners, should reduce the number of death sentences it carries out but can't abolish capital punishment altogether, the country's top legal bodies said.

Carlyle rethinks terms of Xugong deal
__Financial Times
Carlyle, the US private equity firm, is in talks to take a minority stake in a Chinese construction maker following another setback in its 18-month attempt to secure regulatory approval for a deal.

Orient Overseas looks to spend
__Financial Times
Orient Overseas International will hire advisers to examine options for spending its large cash pile, according to the Hong Kong company’s chief financial officer.



3/12/2007

Business Leaders, Washington Aim to Fix Wall Street's Ailment
__Wall Street Journal
Financial luminaries descend on Washington next week aiming to save the U.S. financial markets from losing their edge to foreign capitals such as London and Hong Kong.

China to Alter Handling Of Its Foreign Reserves
__Wall Street Journal
China's finance minister confirmed the outlines of a government plan to overhaul management of its $1.07 trillion in foreign-exchange reserves, in a sign that the world's largest investor is developing the confidence to take greater risks with its money.

U.S. Attracts More IPOs From China
__Wall Street Journal
Chinese companies that go public in the U.S. generally get a warm reception -- and that should ensure the numbers continue to rise.

China blames WTO blockage on US and EU
__Financial Times
The failure of the US and Europe to make concessions on farm tariffs and subsidies is the biggest obstacle holding up the Doha trade round, Bo Xilai, China’s commerce minister said.

Trade talks progress via incremental approach
__Financial Times
The so-called "Doha round" of trade talks, insist the favoured few actually involved in negotiations, is at last making some progress.



3/9/2007

China Magazine Is Pulled As Property Law Looms__Wall Street Journal
Chinese lawmakers introduced a law to protect private property and one to end blanket tax breaks for foreigners. In a possible sign of the property legislation's sensitivity, an influential magazine that covered it was pulled.

Beijing to Weigh Arbitrage Trading For A, H Shares
__Wall Street Journal
China's foreign-exchange regulator said authorities would consider the Hong Kong government's recent proposal to set up a mechanism for arbitrage trading in Class A and Class H shares.

Bank of Communications Posts 33% Rise in Profit, Targets IPO Before July
__Wall Street Journal
Bank of Communications said its net profit rose 33% last year, driven by the Chinese bank's increased lending.

China's Markets Hold It Back, Paulson Says
__Wall Street Journal
Paulson said China's stunted capital markets are holding back the country's economic development and undermining financial stability, during a speech to business leaders in Shanghai.

China Official Sees Room To Lift Bank Reserve Ratio
__Wall Street Journal
China's central-bank vice governor said there is room to raise banks' reserve requirement.

China confirms agency for forex reserves
__Financial Times
China will establish a body to manage a portion of its $1,000bn-plus foreign reserves, said Jin Renqing, the finance minister, in the first top-level confirmation of plans for a new state investment agency.




3/8/2007

Sunny CEO, Gloomy CFO A Smart Mix__Wall Street Journal
Two surveys show why sunny CEOs and gloomy CFOs make potent pairings when it comes to running a business.

China Tries Longer-Term Response to Stock Volatility
__Wall Street Journal
Share prices in China have bounced back from last week's big drop. But the roller-coaster ride raises a bigger question: whether Beijing can tame the boom-bust cycle that has defined China's financial markets since their inception.

China Fuels Coal Prices As Imports Pass Exports
__Wall Street Journal
China's emergence as a net coal importer is shaking up the Asian market, potentially lighting a fire under regional coal prices and intensifying competition with consumers like Japan over long-term supply contracts.

China Is Expected To Approve Rise In Bond Quota
__Wall Street Journal
China's cabinet is expected to soon approve a significant increase in the corporate bond issuance quota for 2007, while bond underwriters have been urged to use a new interbank benchmark, as the government seeks to accelerate development of its domestic capital market.

Fortunes of Hong Kong's Stock Market Could Fall
__Wall Street Journal
The flood of IPOs of Chinese companies on Hong Kong's stock market could start to slow as Beijing steers firms toward China's mainland capital markets. That's bad news for Hong Kong Exchanges & Clearing.

Paulson urges Beijing to speed up reform
__Financial Times
Hank Paulson, US Treasury secretary, outlined a new approach to economic and trade relations with China in a speech calling on authorities in Beijing to deepen reforms of financial markets and let in more foreign investors and investment banks.

Farmers are last to benefit from China’s property reform
__Financial Times
New Chinese laws are meant to reform property rights and give more power to private property owners, a group that has grown throughout China.

Bankers eager as China slakes thirst for IPOs
__Financial Times
When a group of Chinese investors set up CISG, a Guangdong-based insurance broking firm, they could only have dreamed of listing on the US stock market. Nine years on and millions of customers later, CISG is nearing that reality.

China leads US in car production
__Financial Times
China overtook the US in passenger car output for the first time last year, adding to the growing list of consumer goods for which it has become the world’s biggest supplier, according to figures published by Bank of America.



3/7/2007

SEC Ponders Global Accounting Rules__Wall Street Journal
Non-U.S. companies that list in U.S. markets may be able to toss aside U.S. generally accepted accounting principles for international financial reporting standards under a plan being mulled by the Securities and Exchange Commission.


Global Health, China's Pride On Line in Malaria Clash
__Wall Street Journal
A dispute between the Chinese maker of a malaria drug and the World Health Organization touches on money, national pride and medical conundrums about how to treat infectious diseases.

Beijing Appoints Official To State Council Position
__Wall Street Journal
China confirmed the appointment of a senior Finance Ministry official as deputy secretary-general of the State Council yesterday, to lead preparations for a new agency that will more actively manage the country's foreign-exchange reserves.

Beijing fears virtual money’s influence
__Financial Times
China has issued restrictions on the use of “virtual money” from internet games, warning such currencies could threaten real-world financial stability.

Banker with a well-heeled foot in two camps
__Financial Times
The melding of interests between the Communist party and business carries no contradictions for Ma Weihua, who is used to hybrid structures as president of China Merchants Bank.

Music industry group to sue Yahoo China
__Financial Times
Some of the biggest names in the global recording industry have launched a lawsuit against the Chinese affiliate of Yahoo, the leading US internet portal, over alleged music piracy.




3/5/2007

As Asian Markets Reel, Shanghai Still Surprises__Wall Street Journal
The Shanghai Composite rebounded 3.9%, helped by supportive comments from government officials and suggestions that Tuesday's selloff indicated little about the underlying health of China's economy. Other Asian markets continued to skid, with Tokyo stocks ending down 2.9%.

Major Indexes End Mostly Lower, But Hong Kong and Shanghai Rise
__Wall Street Journal
Asian-Pacific markets ended mostly lower, with Japan's Nikkei shedding more than 1%, as shares extended their losses after a week of declines, but Hong Kong and Shanghai bucked the trend as investors hunted for bargains.

China Aims to Cut Energy Use
__Wall Street Journal
China's legislature will discuss a raft of measures to clean up the environment and increase energy efficiency amid doubts about the government's commitment to rein in the country's spiraling energy use.

Beijing moves to end foreign favours
__Financial Times
With the passage through the Chinese parliament in the coming days of an innocuous-sounding bill on corporate tax, Beijing will be drawing a symbolic close to nearly three decades of ­policies favouring foreign investment.

Doubts raised over China IPO values
__Financial Times
Two successful initial public offerings in mainland China in defiance of last week’s market turbulence underlined the huge demand for new listings but also raised questions about whether the country’s IPOs are being valued correctly.



3/2/2007

China's Reckoning Day On Stock Sales Appears Near__Wall Street Journal
More sellers than buyers in China's stock market earlier this week caused shares to fall world-wide. And as China begins to open up its economy, there could be even more sellers in the months to come.

China Builds Commerce Codes
__Wall Street Journal
China's leadership is stepping up its efforts to build a legal system that can handle the demands of a complex, market-driven economy, as managing the fast-growing nation becomes increasingly challenging.

Private Equity Needs to Open Up As Number, Size of Deals Swell
__Wall Street Journal
The private-equity industry has to become less private now that it is involved in bigger companies and so many more deals. The public should know how the industry makes money.

China to pass first private property law__Financial Times
The Chinese parliament is expected to pass China’s first law to protect property rights after a contentious, year-long debate marked by traditional ideological divisions about the role of the private economy under communist rule.

Chinese investors refuse to be cowed
__Financial Times
Chinese investors have faced a week of nerve-racking volatility that included both Tuesday’s biggest one-day drop in the country’s benchmark index and a resulting surge of heart attack patients at Shanghai hospitals.

China turns off two US channels
__Financial Times
A joint venture between News Corp and Disney has had two of its sports channels cut from China’s list of foreign broadcasters that may be distributed to hotels and upscale housing compounds.




3/1/2007

China Pushes Openness__Wall Street Journal
A regulation mandating greater transparency in China's government is moving forward in Beijing, but its contents are a secret.

As Market Fell, Some Big Names Won Their Bets
__Wall Street Journal
Big winners from Tuesday's market drop included hedge-fund manager John Meriwether and a Deutsche Bank executive.

As Asian Markets Reel, Shanghai Still Surprises
__Wall Street Journal
The Shanghai Composite rebounded 3.9%, helped by supportive comments from government officials and suggestions that Tuesday's selloff indicated little about the underlying health of China's economy. Other Asian markets continued to skid, with Tokyo stocks ending down 2.9%.

Hedge Funds Expect to Remain In China Shares, Ride Out Storm
__Wall Street Journal
Hedge funds have a few good reasons to stick around China, where they and their private-equity cousins have been aggressively hunting for opportunities.

Chinese play down Chrysler speculation
__Financial Times
In 2005, two Chinese companies fought hardest to buy the assets of Rover, the struggling British carmaker. Now that Chrysler, the smallest of America’s Big Three producers, is potentially up for sale, will the Chinese go shopping again?

China ‘ceasefire’ over fixed lines
__Financial Times
China’s two fixed-line telephone operators, China Telecom and China Netcom, have sealed a deal intended to limit competition and leave each in control of its core markets.

China’s Focus Media buys Allyes for $300m
__Financial Times
Focus Media Holding, the leading Chinese operator of flat-panel display-based advertising, has announced it would buy Allyes Information Technology, an internet advertising agency, for up to $300m.

Ping An shares soar on Shanghai debut
__Financial Times
Ping An Insurance defied another sharp fall in the mainland stockmarket to record a 38 per cent rise in its share price on the first day of trading on the Shanghai exchange.