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Chinese shares closed lower Wednesday with the benchmark Shanghai Composite Index down 2.31 points, or 0.08 percent, to 2,955.77.
The Chinese mainland is actively considering an "appropriate way" to set up a cross-Straits currency clearing mechanism and expects early progress in this regard, a government spokeswoman said Wednesday.
China Guangdong Nuclear Power Group will buy the pharmaceutical supplier Vital Group Holdings Ltd, giving its uranium unit a listing in the city.
Shares of Citic Securities Co Ltd jumped 1.71 percent at the close of trading on Tuesday. The advance came after China's biggest listed brokerage unveiled its roughly $2.7 billion Hong Kong IPO plan, potentially boosting the company's global competitiveness.
Ping An Insurance Group, one of China's major insurers, said Wednesday its 2010 net profit rose by 23.9 percent year on year to 17.94 billion yuan ($2.73 billion).
Stocks on the Chinese mainland fell on Tuesday, dragging the benchmark index down for the first time in three days. The retreat came as investors speculated that the government will raise borrowing costs to cool inflation.
China's banks made a net profit of 899.1 billion yuan ($137 billion) last year, up 34.5 percent from a year earlier, the fastest pace in three years, the China Banking Regulatory Commission (CBRC) said in a report released on Tuesday.
Chinese shares closed lower Tuesday with the benchmark Shanghai Composite Index down 25.93 points, or 0.87 percent, to 2,958.08.
China's Minmetals Resources is likely to reduce a planned $1.6 billion capital raising after reporting $430.4 million in full-year profits, the company said on Tuesday.
Mid-sized Chinese lender Industrial Bank said on Tuesday that it planned to raise up to 50 billion yuan ($7.6 billon) by selling bonds in Shanghai or Hong Kong to fund asset expansion.
The first China-outbound renminbi fund may seek exit strategies in its invested companies by listing them on the stock exchanges in Europe, Hong Kong or the proposed international board on the Shanghai Stock Exchange, according to Andre Loesekrug-Pietri, chief executive officer and managing partner of European-owned private equity group A-Capital Asia.
The gross operating revenue for 1,039 A-share listed companies last year came to 9.28 trillion yuan – an increase of 35.05 percent from a year ago, China Securities Journal reported Tuesday.
