IN BRIEF (Page 13)

China CNR lowers target

China CNR Corp Ltd, one of the country's biggest train makers, said on Tuesday it had lowered the target of a planned private placement to raise up to 10.24 billion yuan ($1.6 billion).

China CNR will sell up to 1.68 billion shares at 6.10 yuan a share to selected investors through the placement, according to its statement to the Shanghai Stock Exchange.

Digital contract is signed

China's General Administration of Press and Publication signed a strategic alliance agreement with China Mobile Communications Corp on Tuesday, to collectively promote China's digital publishing industry. The Administration will support Chinese publishing houses to build a strategic partnership with China Mobile, and help the telecom company construct a mobile-reading platform.

C919 engine tests on track

CFM International Inc, the supplier of the engine for China's C919 jet, said engine tests are proceeding on schedule and they will be delivered on time.

CFM is also studying the feasibility of a final assembly line and test facility in China. The final assembly of the engines will be completely localized in the future, according to Chaker A. Chahrour, the company's executive vice-president.

CDB to invest in credit fund

China Development Bank Corp (CDB), one of the country's three policy lenders, is set to become a cornerstone investor in MP Pacific Harbor Capital, an Asian credit fund that lends to small and medium-sized enterprises, the Financial Times (FT) reported on Tuesday, citing unidentified sources.

The deal will give CDB's $10 billion capital fund an economic stake in the management company, and the right to co-invest in any deals to which the fund commits, the FT said.

EU may end chemical levy

The European Union (EU) said it may end a tariff on furaldehyde, a chemical substance from China used to make lubricating oils and foundry molds. The EU said it would review the need for the 16-year-old duty because the price of imports from China has increased. The levy of 352 euros ($509) a metric ton is intended to discourage Chinese exporters from selling the substance in Europe below cost, a practice known as dumping.

Dates set for Metro China

Metro China 2011, a professional exhibition for urban rail transportation, will be held between November 1 and 4 at the China International Exhibition Center in Beijing.

Hosted by the Urban Rail Transit Committee of the China Communications and Transportation Association, the exhibition will showcase newly developed urban railway technologies, solutions, and the equipment of domestic and foreign companies. Related forums and symposiums are also to be held.

China Daily - Agencies

(China Daily 07/06/2011 page13)