IN BRIEF (Page 13)

CSRC tweaks inspection rules

China Securities Regulatory Commission (CSRC) on Tuesday revised the rules for inspection of listed companies and bought under its inspection ambit majority shareholders of listed companies, people involved in mergers and acquisitions and securities service companies.

Chalco swings back into black

Aluminum Corp of China Ltd (Chalco) swung back to profit in the first quarter but lagged forecasts as higher-than-expected costs partly offset improved demand for the lightweight metal. The company posted a January-March net profit of 627.25 million yuan ($91.88 million), compared with a year-earlier loss of 1.89 billion yuan.

Baoshan to hike product prices

Baoshan Iron and Steel Co said on Tuesday it would raise prices for key products for May delivery.

The company said prices for cold-rolled steel products would be increased by 200 yuan ($29) per ton while it would keep most hot-rolled steel prices unchanged.

Its pricing decisions are regarded as a benchmark for the rest of the industry, and other mills are likely to follow suit by raising their own ex-factory prices for May.

CICTP starts operations

China International Commodity Trading Platform (CICTP) was inaugurated on Tuesday in Beijing. The CICTP was set up by the Ministry of Commerce and the Ministry of Industry and Information Technology, to provide business services including exhibition, brand promotion and online trading for Chinese and foreign small- and medium-sized enterprises planning to explore international and Chinese markets.

Construction firm fares well

China State Construction Engineering Co said its 2009 net profit attributable to investors including extraordinary items rose 108.7 percent to 5.73 billion yuan ($839 million) from its restated 2008 earnings, propelled by a property boom.

Operational income rose 28.8 percent to 260 billion yuan. The company aims to achieve operational income of 300 billion yuan this year.

Aoyuan revenue soars in 2009

China Aoyuan Property Group Limited, a Guangdong-based and Hong Kong-listed realty developer, reported a 281.4 percent increase in revenue to 2.360 billion yuan last year, the company said on Tuesday. Contracted sales hit 288 million yuan last year, up 111.2 percent, it said.

Nielsen sets up R&D center

US marketing and advertising research firm The Nielsen Company on Tuesday launched a research and development center in Beijing, its first R&D center outside the United States.

The R&D center will focus on research of digital media, such as online videos. It also includes an innovation lab, which support its research methodologies and analyses.

China Daily-Reuters

(China Daily 04/21/2010 page13)