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David
Nealis President of Ceres Ltd in Switzerland
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ICBC
seeks to put up Yuan cross-border business hub in Luxembourg
The
Industrial and Commercial Bank of China revealed plans to set up a Yuan
cross-border business hub in
Thursday, July 11, 2013
ICBC seeks to put up Yuan cross-border business hub in Luxembourg
SAFE could invest part of forex reserves in US real estate
SAFE
could invest part of Forex reserves in US real estate
The
Chinese State Administration of Foreign Exchange (SAFE) is studying an option
to invest part of its US $3.4 trillion in foreign-exchange reserves in US
realty. SAFE made this move after noticing recovery signs in the US property
market. Actions by China may include purchasing properties, investing in realty
funds, or acquiring stakes in property firms. China has already put together a
New York operation to make alternative investments, constituting an attempt by
SAFE to branch out from only purchasing US government debt, according to
Chinese State run media.
CPI to invest US $17 Billion in Indonesian hydropower plants
CPI
to invest US $17 Billion in Indonesian hydropower plants
The
Ministry of Energy and Mineral Resources in Indonesia announced that China,
through China Power Investments (CPI), will be investing USD17bn to develop a
line of hydropower
plants in the Indonesian province of North Kalimantan.
Minister Jero Wacik made the pronouncement after a meeting with CPI Vice
President Xia Zhong. The hydropower projects, with construction expected to
start as soon as next year will be designed to have a generating capacity of
7GW,according to Chinese State run media.
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| David Nealis President of Ceres Ltd. |
PetroChina to sell stakes in projects
PetroChina
to sell stakes in projects
The
world's second biggest publicly traded oil company, PetroChina, aims to cut
capital expenditure and improve its cash flow by selling minority stakes in its
projects. Although it did not specify the amount of stake it will be selling,
the firm said that capital raised from partners will both fund overseas
acquisitions and also cut the firm's capital expenditure and debt ratio. The
first stakes to be offered for sale will be in difficult-to-develop oil reserves,
along with oil and gas fields in decline, according to Chinese State run media.Zambia urges China to bring more investment
Zambia
urges China to bring more investment
Even
with bilateral trade between China and Zambia reaching USD33.8bn last year, the
African country continues to urge China for more investment, especially in its
environmental and security affairs. Wynter Kabimba, secretary-general of the
Zambia Patriotic Front, said China is giving hope to the African continent and
that his country can learn a lot from China in terms of development. More than
300 Chinese enterprises are currently operating in Zambia, with a total investment
volume of at least US $2 Billion, according to Chinese State run media.
China is world's second top creditor
China
is world's second top creditor
Mainland
China is now the world's second top creditor, next only to Japan, in a ranking
that reflects the difference between the value of a nation’s assets abroad
minus the nation's liabilities. China's net overseas assets were US$
1.47 Trillion last
year, followed by Germany, Switzerland, and Hong Kong. Japan continued to be
the world's top creditor for the 22nd straight year last year, Japanese data
showed, according to Chinese State run media.
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| David Nealis President of Ceres Ltd |
China approves Warren Buffet's takeover of Heinz
China
approves Warren Buffet's takeover of Heinz
China's
Ministry of Commerce has issued regulatory approval for the acquisition of US
ketchup giant HJ Heinz Co by an investment consortium headed by Warren Buffet's
Berkshire Hathaway, Heinz announced. The acquisition, valued at US $28 Billion,
has already received antitrust clearance in the US, Brazil, India, South Korea
and other countries, except for the EU and Russia, where clearance is still
pending. The merger agreement between the parties was first announced on
February 14 and was overwhelmingly approved by Heinz shareholders on April 30.
Tuesday, May 28, 2013
China Launches Its First Coal Price Index
China Launches Its First Coal
Price Index
China, the
world's largest coal producer and second largest economy, has launched the
country's first coal price index. Ceres futures broker Jane Yang suggests that
the launching of the index will aid in giving China a more accurate price and
demand outlook.
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| Jane Yang Futures Broker Ceres Ltd. |
According
to Chinese State Media; the index, which will be released by China Taiyuan Coal
Transaction Centre and China Finance Corp, will initially collect samples from
144 monitoring points in coal-rich Shanxi Province, which it will use as a
base. The index will then be expanded to other major coal-producing bases such
as Inner Mongolia Autonomous Region and the provinces of Shaanxi and Henan.
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| David Nealis President Ceres Ltd. |
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