Rioting steel workers killed an executive named to manage the private takeover of state-owned Tonghua Steel, causing the cancellation of the deal and highlighting risks of privatisation in China as millions are thrown out of work.
Financial Regulatory Forum
By Zhou Xin and Simon Rabinovitch
BEIJING, July 17 (Reuters) – China’s $2 trillion stockpile of foreign exchange reserves, the world’s largest, is diversified despite the vast amount held in U.S. Treasuries, the Chinese central bank chief said on Friday.
Zhou Xiaochuan’s apparent satisfaction with China’s current dollar-heavy investment portfolio contrasted with calls he has made this year for a new super-sovereign currency to end the greenback’s dominance. (more…)
SHANGHAI, July 10 (Reuters) – The China Securities Regulatory Commission (CSRC) said on Friday it would restart its reviews for approving initial public offerings (IPO) next week, having suspended them since last September.
BEIJING, July 9 (Reuters) – Fuzzy regulations are stunting the spread of yuan-denominated private equity and venture capital funds in China despite growing demand for financing from fast-expanding firms, leading industry figures said on Thursday.
By Stephen Brown
ROME, July 7 (Reuters) – China, Russia and Brazil will use this week’s G8 summit in Italy to push their view that the world needs to think about a new global reserve currency as an alternative to the dollar, officials said on Tuesday. (more…)
SHANGHAI, July 6 (Reuters) – China published draft rules on information disclosure by companies aiming for an initial public offering on Shenzhen’s second board, as the country nears the launch of its own Nasdaq-style market to fund start-up firms.
(This story is without a dateline to protect the identities of the sources)
(Reuters) – China has asked to debate proposals for a new global reserve currency at next week’s Group of Eight summit in Italy and the issue could be referred to briefly in the summit statement, G8 sources said on Wednesday. (more…)