IN BRIEF (Page 14)

Regulatory

Securities regulator to revise listing rules

China Securities Regulatory Commission plans to relax controls on Hong Kong and overseas listings for mainland companies and will push for issues of yuan-denominated shares in the offshore yuan market, said Yao Gang, vice-chairman of the commission.

Speaking at the Asian Financial Forum in Hong Kong on Jan 16, Yao said the standards to list so-called H-shares are too high and the approval process is time consuming.

"Current H-share listing rules were set more than a decade ago, and there haven't been changes throughout the years," Yao said.

The regulator will conduct a comprehensive revision of overseas listing rules this year, he added.

Shanghai is delaying international board

There is no timeline for the launch of an international board on the Shanghai Stock Exchange, the city's mayor, Han Zheng, said on Jan 16, adding that current investment sentiment would make it unsuitable for such a move in the near future.

"Timing is very critical to the introduction of the international board," Han said. "In my opinion, at the moment, this is not a good time. So there is no clear timetable for the international board at the moment."

The city is planning an international board on its stock exchange to allow foreign firms to list on the mainland. Coca-Cola C., HSBC, Standard Chartered and Unilever have expressed interest in listing on the board once it is launched.

Currency

London set for a role in yuan transactions

London is set to become a major offshore trading center for the yuan as Britain teams up with Hong Kong to develop such business.

The Hong Kong Monetary Authority and the United Kingdom Treasury have agreed to launch a private-sector forum to strengthen links between Hong Kong and London in areas such as clearing and settlement, market liquidity and the development of new yuan-denominated products, the Hong Kong banking regulator said in a news release.

The forum will have representatives from financial institutions in Hong Kong and London, including HSBC Holdings PLC, Standard Chartered PLC, Bank of China Ltd, Deutsche Bank AG and Barclays PLC. It will meet twice a year; the first meeting is scheduled for May in Hong Kong.

Deals

Hutchison may buy Orange Austria

Hutchison Whampoa Ltd, a ports-to-telecommunications conglomerate controlled by billionaire Li Ka-shing, is nearing a deal to acquire Orange Austria, the mobile-phone operator owned by France Telecom SA and buyout firm Mid-Europa Partners, according to people with knowledge of the matter.

A transaction that may value Orange Austria at about 1.4 billion euros, including debt, may be finalized within weeks, sources said, requesting anonymity since the talks are private. France Telecom may receive about 100 million euros in cash from the sale of its 35 percent stake, a source said.

Hong Kong-based Hutchison's 3 Group sells services in European countries, including Austria, Italy, the United Kingdom and Sweden as well as Australia.

Aviation

Airbus JV to assemble 3 A320 monthly

The joint venture of Airbus in China's northern Tianjin municipality can now assemble three A320 aircraft each month, a senior official with Airbus China said.

By the end of this year, more than 100 A320 planes are expected to be assembled in its Tianjin plant, said Laurence Barron, president of Airbus China Co Ltd.

The Tianjin plant has already delivered its first A320 aircraft assembled this month to Juneyao Airlines, a privately owned Chinese airline based in Shanghai, he said.

E-Commerce

Amazon signs deal for new site in Nanning

Amazon.com Inc, the world's largest online retailer, will create a major distribution center in the southwestern city of Nanning, local authorities said.

The Seattle-based company signed a deal with the Economic and Technological Development Zone to build the distribution center in Nanning, capital of The Guangxi Zhuang autonomous region, the zone's management office said in a statement.

The center, with an investment of 600 million yuan ($95 million, 74.48 million euros), will generate an annual output worth at least 200 million yuan, said the statement, without elaborating on a timetable.

Auto

Bosch completes boiler deal

German technology and service supplier Bosch Group said it had completed the takeover of the Chinese industrial boiler manufacturer Wuhan Tianyuan Boiler Co Ltd and its three subsidiaries, in a bid to expand its product portfolio and presence in Asia.

Without disclosing the acquisition price, Bosch said that Wuhan Tianyuan employs around 550 people and generated a sales revenue of 18 million euros in the past fiscal year.

China Daily-Agencies

(China Daily 01/20/2012 page14)