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Mar 11, 2013

China should sell state shares in mid-tier banks -Minsheng vice chairman

BEIJING, March 11 (Reuters) – China should sell down
state-held shares in mid-sized commercial banks to less than 50
percent, the largest shareholder in the country’s only sizeable
privately controlled bank told reporters on Monday.

China said last year it would allow private investors
greater entry into a number of restricted sectors, including
finance. China’s banking sector is dominated by big state-owned
banks, and the state also owns a majority share in nine of the
10 second-tier commercial banks.

Mar 10, 2013

Analysis: Meat prices add to China’s inflation, policy risks

BEIJING (Reuters) – Diners looking for some beef hotpot on a chilly evening in Beijing pay more per pound than their counterparts in Boston, a discrepancy that shows the challenges China faces in reviving growth as inflation pressures make an untimely return.

China’s consumer price index rose 3.2 percent in February from a year earlier, a 10-month high, official data released on Saturday showed. The pick up in inflation from just 2 percent in January was driven by a 6 percent increase in food costs.

Mar 8, 2013

China Commerce Minister seeks clearer U.S. investment guide

BEIJING (Reuters) – China’s Commerce Minister called for clearer guidelines from the United States on its security review procedures for foreign investment, while saying that China does not target specific countries for overseas investment.

China is studying the procedures of the Committee on Foreign Investment in the United States, or CFIUS, as it sets in motion its own security review, Chen Deming told reporters on Friday at a briefing at China’s annual parliament session.

Mar 7, 2013

China’s Bright Food looking to acquire overseas sugar firm

BEIJING, March 7 (Reuters) – Bright Food Group is seeking to
buy a sugar company abroad, fresh on the heels of four overseas
acquisitions in the past three years that have made it one of
the most active Chinese state-owned firms in terms of
international expansion.

China’s second-largest food manufacturer by revenue is
looking at potential targets in Southeast Asia, Australia and
Brazil, vice president Ge Junjie told Reuters on Thursday.

Mar 4, 2013

China hammers out rail restructuring – sources

BEIJING, March 4 (Reuters) – China is likely to split its
sprawling, scandal-plagued Railways Ministry into operations and
commercial arms, two sources said, part of an overhaul of the
bureaucracy as a new set of leaders takes charge in Beijing.

In other plans, the government is also likely to set up a
single regulator for food safety, although details are still
being finalised.

Mar 1, 2013

China plans unionisation push into Big Four accounting firms

BEIJING, March 1 (Reuters) – China’s state-backed trade
union is planning to expand into yet another bastion of
capitalism, targetting the Big Four accounting firms and their
40,000 employees in mainland China, according to state media
reports and the companies on Friday.

The All-China Federation of Trade Unions made a push into
foreign firms operating about four years ago and now has a union
presence in most firms with a manufacturing or retail base.

Feb 7, 2013

China plan on wealth gap preserves much of state firms’ cash pile

SHANGHAI/BEIJING, Feb 8 (Reuters) – China’s broad plan to
address income inequality promises to extract higher dividends
from profitable state-owned enterprises (SOEs) to finance a more
generous social safety net.

But the increased payouts may do little to channel wealth
towards boosting social security. The Communist Party’s new
leadership has promised reforms to address the country’s yawning
wealth gap.

Feb 5, 2013

China’s big step in rural reform; mapping tiny plots of farm land

YANGWANG VILLAGE, China, Feb 6 (Reuters) – The bare
lightbulbs, unheated rooms and elderly residents of the
whitewashed village of Yangwang in eastern China make it seem an
unlikely place for an experiment in cutting-edge satellite
technology.

This tiny village in Anhui province was home to a pilot
project that for the first time mapped farmers’ land holdings,
putting it on the front line of China’s efforts to build a
modern agricultural sector that can underpin the country’s food
security – a policy priority for the Communist Party.

Feb 5, 2013

China OKs sweeping tax reforms to tackle inequality

BEIJING (Reuters) – China unveiled sweeping tax reforms on Tuesday to make wealthy state-owned firms, property speculators and the rich pay more to narrow a yawning gap between an urban elite and hundreds of millions of rural poor.

The plans approved by the State Council – China’s cabinet – also included commitments to push forward market-oriented interest rate reforms to give savers a better return and more security.

Jan 21, 2013

France says review of China nuclear relations “normal”

BEIJING (Reuters) – France’s Trade Minister Nicole Bricq said on Monday a decision by her country’s new government to review the country’s nuclear cooperation with China was a regular process and was “normal”.

At the end of December, Finance Minister Pierre Moscovici said France was investigating a nuclear partnership deal between EDF and Chinese nuclear utility China Guangdong Nuclear Power Corporation Holding (CGNPC).

    • About Lucy

      "I am the Reuters Insider correspondent in China, where I have lived for ten of the last 15 years. Prior areas of coverage include political and general news, as well as commodities and energy policy and markets."
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