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China should reduce its holdings of US Treasury bonds to protect the value of its massive foreign exchange reserves despite reassurances from US Vice-President Joe Biden, analysts said on Thursday.
The Chinese currency renminbi, or the yuan, weakens 90 basis points to 6.4032 per US dollar on Friday, according to the China Foreign Exchange Trading system.
Exchange Traded Funds (ETFs) will attract investors from the Chinese mainland, Hong Kong's Secretary for Financial Services & the Treasury KC Chan said on Thursday.
Dongfang Shipbuilding Co Ltd floated on the Alternative Investment Market of the London Stock Exchange on Thursday as the first Chinese shipbuilder.
Chinese investors have showed growing interest in futures products over the past year amid volatile commodity prices.
Stocks on the Chinese mainland fell the most in more than a week on Thursday. The retreat came after Morgan Stanley and Deutsche Bank AG cut their economic growth forecasts for the Asian country.
Tudou Holdings Ltd, China's second-biggest video website, tumbled 12 percent in its first day of trading after raising $174 million in a US initial public offering.
Hong Kong stocks lost 272.76 points, or 1.34 percent, at 20,016.27 on Thursday.
China's stocks closed lower on Thursday with the benchmark Shanghai Composite Index down 1.61 percent, or 41.79 points, to close at 2,559.47.
China's Ministry of Finance (MOF) said Wednesday that it will sell 30 billion yuan ($4.69 billion) in 10-year book-entry treasury bonds starting Thursday.
China's second-largest online video site Tudou Holdings Ltd on Wednesday issued shares on Nasdaq Stock Market, just one week after the markets underwent a huge turbulence following the downgrade of US credit rating.
China Life, the world's biggest insurer by market capitalization, has become the first Chinese insurance company to be granted a license to form a private equity fund.
