IN BRIEF (Page 10)

AgBank restructured

Agricultural Bank of China has completed its conversion into a joint stock company, the bank said on Friday, marking another step in the bank's transformation along commercial lines.

Ministry of Finance and Central Huijin, an arm of the country's sovereign wealth fund, each hold 50 percent of the newly established firm, Agricultural Bank of China Co Ltd.

The firm has a registered capital of 260 billion yuan.

Car sales pick up in Dec

China's passenger car sales resumed growing in December after falling in the previous month, rising 8.1 percent, bolstered by lower fuel prices and government steps to boost the market.

Full-year sales growth slowed to 7.4 percent in 2008, however, according to the China Passenger Car Association.

Biz confidence plunges

Chinese business confidence plunged in the final three months of 2008 to an eight-year low, an official survey showed on Friday.

The business confidence index fell 29.2 points in the fourth quarter to 94.6, the National Bureau of Statistics said.

Surcharge stopped

AirAsia, Asia's biggest low-fare air company, has stopped charging fuel surcharges from passengers since the end of last year, Kathleen Tan, executive vice-president of AirAsia said in Guangzhou on Friday.

Tan said AirAsia is the only air company so far in the world to say no to the surcharges.

Agencies-China Daily

(China Daily 01/10/2009 page10)