(Beijing) – Cross-border yuan settlement between domestic and overseas companies and financial institutions was 3.16 trillion yuan from January to September, data from the Ministry of Commerce shows.
Zhao Gang, deputy inspector of the ministry, said cross-border yuan settlement involved 220 countries and regions, about 98 percent of the world total.
Since the launch of a cross-border yuan settlement pilot in mid-2009, the total value of transactions at the end of September was 8.6 trillion yuan, Zhao said.
Huishang Bank Corp., a lender in the eastern Chinese province of Anhui, sold shares at HK$3.53 (46 cents) each in its Hong Kong initial public offering, said two people with knowledge of the matter.
The lender and some of its shareholders raised $1.2 billion from the sale of 2.61 billion shares, said the people, who asked not to be identified because the information is private. The shares had been marketed at HK$3.47 to HK$3.88 apiece, according to a prospectus.
Shuanghui International Holdings Ltd., the Chinese company that bought the world’s biggest pork supplier this year, plans to seek as much as $6 billion in an initial public offering in Hong Kong, said two people with knowledge of the matter.
BOC International Holdings Ltd., Citic Securities Co., Goldman Sachs Group Inc., Morgan Stanley, Standard Chartered Plc and UBS AG are working on the share sale, said the people, who asked not to be identified because the information is private. The offering may start next year, they said.
Chinese president Xi Jinping, who is also general secretary of the CPC Central Committee, said on Saturday that a blueprint for comprehensive reform would be put forward at the upcoming Third Plenary Session of the 18th CPC Central Committee, scheduled for November 9 to 12. Many people believe innovation development strategy will be a focus for the new round of reforms.
National innovative bases such as Zhongguancun in Beijing, Optical Valley in Wuhan, and Zhangjiang in Shanghai, are at the frontier in the drive for economic reform.
Sinopec has become the latest state-backed entity to take steps aimed at boosting China’s flagging stock market, ahead of an important Communist party leadership meeting this weekend.
The oil producer’s parent company said in a statement to the stock exchange on Wednesday that it bought back more than 6m of Sinopec’s Shanghai-listed shares on Tuesday and would spend as much as $17bn purchasing stock over the next 12 months.
Posted from Diigo.