IN BRIEF (Page 13)

Three-month offering flat

China's central bank said on Wednesday that it would auction 1 billion yuan ($155 million) of three-month bills in its open-market operations on Thursday, unchanged from last week.

A total of 46 billion yuan in central bank bills and repurchase agreements are due to mature this week. The People's Bank of China injected a net 34 billion yuan into the banking system last week.

'Green' Porsche sales center

Jebsen Group, a marketing and distribution organization for premium products, said on Wednesday that it will build an environmentally friendly Porsche sales and service center in Shanghai.

With China's strong and steady growth in the luxury market, the center will meet surging demand for premium cars, especially in and around Shanghai, according to Mark Bishop, group director of Hong Kong-based Jebsen.

Housing 'best' for retirement

About 85 percent of Chinese people surveyed say that housing is a more reliable way to finance retirement than having children, according to a Manulife-Sinochem Life Insurance.

Meanwhile, 67 percent of Chinese female white-collar workers expect to retire early because of the dual stresses of work and daily life, according to the first nationwide "Chinese Middle Class Families Happy Retirement White Paper".

Services' growth slows in July

China's services sector grew in July at its slowest pace in three months as new orders ebbed, a private survey showed, a further sign that tight monetary policy was chilling the world's second-biggest economy.

The HSBC Services Purchasing Managers' Index edged down to 53.5 in July from 54.1 in June, signaling strong but slowing growth. The 50-point level demarcates expansion from contraction.

More funding for Midea Group

Appliance maker Midea Group Ltd increased a loan to $235 million from $200 million after six lenders joined three banks hired to arrange the facility, according to a person familiar with the matter.

China Daily - Agencies

(China Daily 08/04/2011 page13)