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AmCham-China Wire: March 8, 2010 09 September 2010
| 08 MARCH 2010 | A service of AmCham-China and  |
| SELECTED CHINA MEDIA REPORTS | View Archives |
| 1. Amendments to IPO and refinancing measures help issuers increase predictability 2. Zhou Xiaochuan: paying attention to inflation; currency policy to be adjusted dynamically 3. Vice Governor of People's Bank of China Su Ning: Renminbi to appreciate gradually 4. Ministry of Commerce resolutely opposes US' abuse of trade remedy measures 5. Zhou Xiaochuan: opposes politicization of exchange rate issue 6. MIIT minister strives to commence pilot program of "three networks in one" at the end of April 7. US to consider RMB rate as subsidy; Chinese expert rebuts claim as distortion 8. MIIT is not investigating Google cyber attacks 9. International Finance News: trade friction forces appreciation of RMB 10. Central bank: adjustment of renminbi exchange rate will not depend on "foreign pressure" |
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| SELECTED FOREIGN REPORTS: 08 MARCH 2010 | |
| Moving While Staying Still on the Yuan (AWSJ - subs. req.) Economic Roar in China May Be Too Strong (AWSJ - subs. req.) China Looks to Narrow City-Rural Development Gap (NYT - reg. req.) Shell, PetroChina Bid ￡2 Billion For Arrow (NYT - reg. req.) China plans Asia-Europe rail network (SCMP - subs. req.) Blind eye to billions in bad debts (SCMP - subs. req.) Mainland set to continue coal imports for this year (SCMP - subs. req.) Shareholder wrangling leads to six-year delay in completion of mine project despite shortage (SCMP - subs. req.) |
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| 1. Amendments to IPO and refinancing measures help issuers increase predictability March 7, Zhu Congjiu, assistant to the chairman of the China Securities Regulatory Commission (CSRC), says that CSRC will revise the two measures related to IPOs and refinancing that will help issuers increase their predictability. [Xinhuanet, 2010.03.08] 630 words - PReSEARCH it now 2. Zhou Xiaochuan: paying attention to inflation; currency policy to be adjusted dynamically March 6, at a press conference for the 13th Meeting of the 11th NPC, Zhou Xiaochuan, Governor of People's Bank of China, says that China's currency policy will be adjusted dynamically according to feedback from economic indicators. The growth rate of the broad money supply, the M2, will be about 17% this year and new RMB loans will be increased by RMB7.5tri. [www.chinamining.com.cn, 2010.03.08] 539 words - PReSEARCH it now 3. Vice Governor of People's Bank of China Su Ning: Renminbi to appreciate gradually Su Ning, Vice Governor of People's Bank of China, says the appreciation of the renminbi will help China obtain more benefits from international exchanges in the long-term. However, in the short-term, the appreciation of the renminbi will not help China realize international trade balance. [Sohu, 2010.03.08] 488 words - PReSEARCH it now 4. Ministry of Commerce resolutely opposes US' abuse of trade remedy measures The US Department of Commerce recently issued a preliminary announcement about two pairs of countervailing cases on imports of coated paper and phosphate salts from China. March 5, Yao Jian, spokesman for the Ministry of Commerce, says that China resolutely opposes the US' abuse of trade remedy measures. He says frequent countervailing probes by the US into Chinese products have unfairly restricted normal exports. He says that China will negotiate with the US over the unfair move to protect the interests of Chinese companies. [Sina, 2010.03.06] 405 words - PReSEARCH it now 5. Zhou Xiaochuan: opposes politicization of exchange rate issue March 6, at a press conference for the 13th Meeting of the 11th NPC, Zhou Xiaochuan, Governor of People's Bank of China, says that exchange rate issues should not be politicized. China chooses its exchange rate mechanism according to regulations by the International Monetary Fund. [Sina, 2010.03.06] 668 words - PReSEARCH it now 6. MIIT minister strives to commence pilot program of "three networks in one" at the end of April China will integrate three networks, including the telecom network, the Internet network and the TV broadcast network. March 5, the Minister of Industry and Information Technology (MIIT) says the pilot program for "three networks in one" is expected to begin at the end of April. [Sina, 2010.03.05] 772 words - PReSEARCH it now 7. US to consider RMB rate as subsidy; Chinese expert rebuts claim as distortion Tim Turman, spokesman for the International Trade Administration under the US Department of Commerce, says, "We're considering an anti-subsidy investigation for manipulating the RMB exchange rate." Mo Shijian, dean of the Law Institute under the China University of Political Science and Law, says that, according to IMF regulations, IMF members can choose a floating or fixed exchange rate. It is a distortion to include RMB exchange rate issues in discussions of fair trade. [Sina, 2010.03.05] 1,545 words - PReSEARCH it now 8. MIIT is not investigating Google cyber attacks The Vice Minister of Industry and Information Technology (MIIT) said yesterday (March 7) that Google had never filed a report with the MIIT over the cyber attacks nor did it seek negotiations. He said, "If Google has evidence that the attacks came from China, the Chinese government will welcome them to provide the information and will severely punish the offenders according to the law. We never support hacking attacks because China also falls victim to hacking attacks." [People, 2010.03.08] 426 words - PReSEARCH it now 9. International Finance News: trade friction forces appreciation of RMB March 4, the US Department of Commerce decides to levy 132.74% and 349% anti-dumping taxes on imported magnesia carbon bricks from China. An analyst points out that the US hopes to force the renminbi to appreciate significantly through the use of trade friction. [People, 2010.03.08] 1,316 words - PReSEARCH it now 10. Central bank: adjustment of renminbi exchange rate will not depend on "foreign pressure" People's Bank of China Governor Zhou Xiaochuan says that both the large appreciation or depreciation of the renminbi will influence the development of the Chinese economy. The renminbi should be appreciated gradually and slowly. Su Ning, Vice Governor of Peoples' Bank of China, says the appreciation of the renminbi will help China obtain more benefits from international exchanges over the long-term. However, in the short-term, the appreciation of the renminbi will not help China realize international trade balance. [JRJ, 2010.03.08] 1,838 words - PReSEARCH it now |
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