SAFE to start hot money probe in 13 provinces
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China's business press carried the following stories on Tuesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
SAFE to start hot money probe in 13 provinces -- Shanghai Securities News
The State Administration of Foreign Exchange (SAFE) will launch a special inspection on illegal capital inflows in China in the first half of this year, the Shanghai Securities News reported Tuesday.
The inspection will be conducted in 13 provinces and cities that have relative more foreign exchange transactions and will involve trade in goods and services, individual investment and foreign direct investment, international payment transactions under the account of external debt, and cross-boarder capital inflows.
According to SAFE, international balance of payments are facing more complicated environment this year. As a result, there are more uncertainties concerning cross-boarder capital flows and more pressure on the net inflow of foreign exchanges. SAFE will step up the effort in probing illegal activities of foreign exchange and safeguarding national financial security.
CNHTC Jinan Truck 09 net profit down 9.73% -- China Securities Journal
CNHTC Jinan Truck Co., Ltd. recorded 427.9 million yuan of net profit in 2009, down 9.73 percent year-on-year, the company announced Tuesday in its 2009 annual report.
CNHTC Jinan Truck produced a total of 82,777 units of trucks, up 9.4 percent compared to same time in 2008. It sold 80,550 units of heavy trucks and achieved 20.36 billion yuan of business revenue from it.
The company accumulated 27.5 million yuan from export, down 80.59 percent year-on-year.
IPO issuance slows down to only 4 this week -- China Business News
Only four new IPOs will be seen this week, marking the lowest number of weekly IPO this month, the China Business News reported Tuesday.
In the first three weeks of March, the market saw six, ten and eight new IPOs, respectively.
Beijing Haohua Energy Resource Co., Ltd. will start online offering on Tuesday, while three other companies - Double Arrow Rubber Co., Ltd., Shandong Blue Sail Plastic & Rubber Co., Ltd. and Beijing UniStrong Science & Technology Co., Ltd. will start their online offerings on Wednesday.
