The Ministry of Finance (MOF) said Friday that it will issue 20 billion yuan ($3.28 billion) in 50-year book-entry treasury bonds.
The annual interest rate for the bonds is fixed at 5.31 percent, according to a statement posted on the MOF website.
The European Union sees broader access for investment in China as a key issue in negotiations on an agreement that will consolidate 27 bilateral pacts, the head of the EU Chamber of Commerce in China said.
“The more open the market is, the more European investors enter. European companies are very interested in entering the telecommunications, energy, construction, railway and financial service industries in China, if access can be further eased through a bilateral investment treaty,” Davide Cucino, president of the chamber, told China Daily.
BEIJING, Nov. 14 (Xinhua) — China’s electricity consumption, an indicator of economic activity, rose 9.5 percent year on year in October, official data showed on Thursday.
The growth was lower than September’s 10.4-percent rise and August’s 13.7-percent increase, according to data released by the National Energy Administration.
French carmaker PSA Peugeot Citroen (>> PEUGEOT) is preparing for a possible sale of its Faurecia (>> FAURECIA) components division to accompany a tie-up with China’s Dongfeng Motor Group, several sources with knowledge of the situation said.
The separately listed parts maker has hired an adviser to explore the sale of Peugeot’s 57 percent stake either in the market, or to a private equity fund or industry peer, said the sources, who asked not to be named because the talks are private.
China Petroleum and Chemical Corporation (SNP – Analyst Report), also known as Sinopec, along with Royal Dutch Shell plc (RDS.A – Analyst Report) is drilling exploration wells in the largely unexplored central China to examine the shale potential in the region.
The belief that China holds the world’s largest shale gas resource has attracted several oil majors including Shell, ExxonMobil Corporation (XOM – Analyst Report), Chevron Corporation (CVX), Eni SpA (E) and Total SA (TOT – Analyst Report) for unconventional gas exploration in the region. Of these companies, Royal Dutch Shell is the first to secure a production sharing contract.
Ping An Insurance (Group) has received regulatory approval to issue up to Rmb26 billion ($4.2 billion) of domestic convertible bonds, according to an announcement on the Hong Kong stock exchange website on Thursday evening.
The company, listed both in Hong Kong and Shanghai, first announced plans for the CB in December 2011 so it has been a long wait. However, the timing of the approval is a bit surprising as observers hadn’t expected the insurer to get the go-ahead from regulators until after Sinopec had issued its planned domestic CB of up to Rmb30 billion.
Posted from Diigo.