 IN BRIEF (Page 19)
(China Daily)
Updated: 2008-08-21 08:31 Currency exchange China will allow non-financial institutions in Beijing and Shanghai to provide currency exchange services to individuals, the State Administration of Foreign Exchange (SAFE) said yesterday. Local residents would be permitted to buy or sell foreign currency through authorized money changers as part of their annual quota, which is currently $50,000 per person. Prices lowered COFCO Ltd, China's biggest grain trader, has lowered retail prices of some edible oil products as global oilseed and vegetable oil futures plunged. The price of Fu Lin Men, or Fortune, the second-most sold cooking oil brand in China, was cut 10 percent from Aug 15, the company said in a statement on its website. Tech park Beijing Olympics partner GE officially launched its China Technology Park (CTP) in Shanghai yesterday, which is GE's most advanced office complex worldwide and the headquarters for GE China. The 60,000 sq m CTP, constructed under the LEED (Leadership in Energy and Environment Design) certification administered by the United States Green Building Counsel, will bring together all GE business groups in Shanghai. Ore stake nod Hunan Valin Steel Tube & Wire Co, the Chinese company partly owned by ArcelorMittal, said it won approval from the Australian and Chinese governments to buy a stake in Australian iron ore explorer Golden West Resources Ltd. The approval to acquire an 11.4 percent stake in Golden West came on Tuesday, Hunan Valin, based in the southern city of Changsha, said in a statement to the Shenzhen Stock Exchange yesterday. Agencies-China Daily (China Daily 08/21/2008 page19) |
