Details on Sinosteel-Midwest Buyout
Cover story
Last week, Sinosteel bought the remaining shares in its Australian partner, Midwest Corp, in a pre-emptive block of a hostile takeover by Mitsubishi and a Murchison Metals. The Chinese steel giant is calling it a strategic, defensive maneuver.
Original article: [Chinese]
Monetary Measures Tighten, But Yuan Still Key
Cover Editorial
Various monetary measures introduced by the Chinese government have failed to yield desired results, partly because the root of the problem is not being tackled - the undervalue yuan.
Original article: [Chinese]
State-Owned Assets Law Being Finalized
News, page 3
After 15 years of drafting, China's State-Owned Assets Law is nearing completion and likely to be submitted to the National People's Congress for approval within the month. The section of the law that further clarifies the function of the state assets supervision agency has been one of the major points of debate up to now. The EO interviews one of the draftees.
Original article: [Chinese]
Li Yizhong's 70 Hours
News, page 6
An emotional Li Yizhong, head of the State Administration of Coal Mine Safety, spent 70 hours in Hongdong County, Shanxi province, leading a coal mine disaster rescue effort, consoling wounded mining workers and their families, and investigating the cause of the gas explosion that resulted in one hundred deaths.
Original article: [Chinese]
Hangzhou Integrates Basic Health Care
Nation, page 12
Officials hope that by integrating government agencies in Hangzhou on January 1st they will be able to improve basic health care.
Original article: [Chinese]
Changzhi's Conflicting Hats
Nation, page 9
Changzhi in Shanxi province is a severely polluted city entrenched with heavy industries. In 2004, it was listed by SEPA, China's environmental watchdog agency, as one of the nation's 113 environmental hotspots. If this is the case, why has it also been named "China's Top Ten Charming City" and "National Sanitary City"?
Original article: [Chinese]
Calm Before Christmas
Money & Investment, page 19
With Christmas drawing near, less surprises are being sprung at the Hong Kong Stock Exchange as fund managers prepare for their year-end break with handsome bonuses earned from a years worth of battles. The EO interviews personnel from several international investment institutions to talk about the annual "calm before Christmas".
Original article: [Chinese]
Investing in Foreign Stocks through QDII
Money & Investment, page 20
Chinese nationals will soon be able to invest in overseas stocks through QDII products offered by local banks. The Banking Regulatory Commission's business development monitoring and management department chief Li Fuan told the EO that the scope of domestic banks' QDII would expand from regional investment in Hong Kong to other mature foreign market, such as those in the US. The move was agreed on principal during the third Sino-America Economic Dialogue concluded recently, and more detailed policy will be issued in the near future.
Original article: [Chinese]
Private Petrol Stations Forming Network
Corporation, page 32
Chinese private petrol stations are forming an alliance to collectively source for processed oil supplies and to come under one banner for brand-name recognition. The alliance, named China Petrol Stations Network, aims to improve the survival space for private petrol station operators, who lack the economies of scale enjoyed by the state-owned oil giants. As a result, they are suffering from a lack of brand name, ineffective information dissemination, poor management, and unreliable oil supplies. The new network, which has thus far recruited 20 members, also hopes to increase the negotiation power of private operators in sourcing oil supplies.
Original article: [Chinese]
Artist Village Awaits Verdict
Property, page 37
When a group of artists made Songzhuang their base back in the 1990s, they were relieved to have found a serene village nestled close to Beijing where they could live among what they say were simple and honest farmers. However, tranquil days for the Songzhuang artists finding inspiration in the countryside are over. Dozens have been taken to court in recent years, as some villagers have tried to reclaim property sold at low prices years ago. Although the law prevented rural homes to be sold to urban residents, the villagers are more concerned that property prices in greater Beijing have skyrocketed in recent years.
Full English translation forthcoming
Original article: [Chinese]
