Sina shares hit 52-week high over management buyout
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Chinese newspapers carried the following stories on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Sina shares hit 52-week high over management buyout--- www.sina.com.cn
China's largest Internet portal Sina.com hit a 52-week high of $38.7 on Nasdaq, Wednesday, after CEO Cao Guowei bought 5.6 million shares for $180 million on Monday to become the largest shareholder. News of the management buyout pushed Sina shares up 6.04 percent to close at $38.25.
State proposal to curb industrial overcapacity--- China Business News
Reflecting concern that some industrial sectors are burdened with overcapacity, the State Council released proposals yesterday to curb overlapping construction in steel, concrete, glass, coal chemicals, polycrystalline silicon, wind power equipment, aluminum, shipbuilding and soybean processing.
Loan spree is still on--- China Business News
Analysts estimate that Chinese banks issued between 600 billion (US$88 bln) and 700 billion (US$102 bln) yuan in loans during September and many institutions think bank lending will remain aggressive in the fourth quarter.
By September 25, lending from the four major state-controlled banks had increased by about 200 billion yuan (US$29.4 bln) over the August figure.
