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The China Banking Regulatory Commission (CBRC), the country's banking regulator, denied a rumor on Tuesday that it had ordered trust companies to stop property trust businesses.
The conditions for China to create its own international board are nearly mature, the China Securities Journal cited a securities official as saying on Wednesday.
Beijing municipality is in talks with "several" large foreign equity investment institutions, and plans to jointly launch more private equity funds in mid-June 2011 to promote the listing of local companies, said an official with the Beijing Municipal Bureau of Financial Work.
HSBC Holdings PLC, Europe's biggest lender, aims to add at least 500 employees in the Chinese mainland annually as it further extends its network, said a senior executive on Tuesday.
The Chinese currency Renminbi, or the yuan, Wednesday strengthened against the US Dollar (USD) as the central parity rate of the yuan was set at 6.5074 per USD.
The following are the central parity rates of the renminbi (RMB) against seven major currencies announced Wednesday by the China Foreign Exchange Trading System.
Chinese shares opened slightly lower on Wednesday, with the benchmark Shanghai Composite Index down 0.21 percent at 2,846.72.
The managing director of China Investment Corp (CIC), the nation's sovereign wealth fund, is moving to Canada to bolster the company's attempts at investing in natural resources, according to a company official with direct knowledge of the matter.
Hong Kong stocks lost 59.55 points, or 0.26 percent, to close at 22,901.08 on Tuesday.
China is expected to become a capital exporting country very soon, said Liu Zuozhang, director general of the investment promotion agency under the Ministry of Commerce.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SZSE) on June 1, 2010, edged down 1.23 percent, or 11.19 points, to close at 895.15 Tuesday.
Chinese shares closed slightly higher Tuesday with the benchmark Shanghai Composite Index up 0.13 percent, or 3.71 points, to 2,852.77.
