IN BRIEF (Page 10)

Bank assets up

China's banking industry boosted its assets to 61.1 trillion yuan by the end of November, Liu Mingkang, chairman of China Banking Regulatory Commission, said in Beijing on Friday.

That's an increase of 3 percent from 59.3 trillion yuan as of Sept 30.

Corn price down

Corn fell on the Dalian Commodity Exchange Friday, snapping a four-day rally, on speculation the government may scrap a plan to boost exports next year to ensure domestic supplies. Soybeans were little changed.

China may issue fewer 2009 corn export licenses than expected and won't provide trade incentives as it seeks to control prices.

CDB raises bond funds

China Development Bank, the country's fifth-largest state-owned lender, raised $200 million selling US dollar-denominated bonds domestically.

The lender sold the two-year bonds on Friday with an interest rate equivalent to 50 basis points above the six-month London inter-bank offered rate, it said in a statement posted on Chinabond website.

Foreign debt grows

China's outstanding foreign debt on September 30 was $441.96 billion, 18.3 percent more than at the end of last year, the State Administration of Foreign Exchange said.

The country added $27.4 billion of medium and long-term foreign debt in the first nine months of 2008, 7.5 percent more than the same period last year.

China Daily

(China Daily 12/27/2008 page10)