This Blog is also available as an RSS Feed

• China’s Telecommunications Network Shake-Up Should Yield Positive Results - Editor, 28 July 2008

One of China’s two main fixed-line operators, China Telecom (listed on New York Stock Exchange and Hong Kong Stock Exchange), has entered into an agreement for the acquisition of China Unicom Ltd’s CDMA wireless business, including its 43 million mobile subscriber customer base, for an amount of 43.8 billion yuan. Moreover, China Telecom’s parent company, China Telecommunications Corp, will acquire the CDMA wireless network from China Unicom Ltd’s parent company, China United Telecommunications Corp, for an amount of 66.2 billion yuan.

• China Energy Tech Summit 2008 - Editor, 21 July 2008

The prestigious Crowne Plaza Hotel in Beijing will be the venue for the upcoming China Energy Tech Summit 2008 to be held 15-17 October 2008. This summit, which is the first of its kind in China, will focus on China’s energy industries and will also provide an international platform for overseas businesses that are involved in energy conservation and emission reduction. The China Energy Tech Summit 2008 will address issues relating to energy conservation, as well as emission reduction technologies, in gas, oil, coal, coal-chemical, petrochemical and electrical power industries.

• Industrial and Commercial Bank of China Enters Australian Market - Editor, 15 July 2008

The Industrial and Commercial Bank of China (ICBC) is considered to be the largest bank in the world, employing more than 350,000 people and offering multi-dimensional, innovative services to its extensive customer base. Following the approval of a branch license from the Australian Prudential Regulations Authority, the ICBC is set to pursue its goal of forming alliances with Australian banks under the leadership Mr. Ruixiang Han, who arrived in Sydney recently to take up his position as general manager of ICBC Australia.

• China Takes Steps to Cool Down “Hot Money” - Editor, 7 July 2008

A spokesman for China’s State Administration of Foreign Exchange (SAFE) revealed that, together with the Ministry of Commerce and the General Administration of Customs, it will be drafting regulations to further tighten control on the inflow into China of speculative capital, otherwise referred to as “hot money”. Starting with a trial period of one month, on 14 July, SAFE will electronically link these government departments to co-ordinate and cross-check foreign exchange receipts, as well as export settlements.