IN BRIEF (Page 13)

Restructuring for State firms

China will spend State funds next year for restructuring government-owned companies and energy-conservation and emissions-reduction projects, the Ministry of Finance said in a statement on Wednesday.

The government will also allocate money for overseas investments and acquisitions and for research and development by companies, the ministry said in a statement about the drafting of the 2012 budget and management of state funds.

QFII licensefor Grantham

Grantham, Mayo, Van Otterloo & Co received a QFII license in China last month, according to a statement on the China Securities Regulatory Commission's website on Wednesday.

The permit allows the company to trade in yuan-denominated stocks and bonds.

Shiseido expands sales

Shiseido Co Ltd, the Japan-based skincare producer, will expand its sales channels and diversify its product portfolio in China in the next three years to secure its leading position in the country's cosmetics market.

The company will launch an e-commerce site selling low- and mid-priced products such as Pure&Mild to better reach Chinese users.

CIC eyes assets in Philippines

China Investment Corp (CIC), the nation's sovereign wealth fund, may invest part of its $300 billion fund in the Philippines, ING Groep NV country manager Zondy Garcia told reporters during a forum on Wednesday in Manila. CIC "is very much interested" in Philippine fixed-income assets and other investments, Garcia said. ING invited CIC to consider the Philippines, she said.

Vale still seeking shipping deal

Vale SA hasn't reached an agreement with its Chinese partners on shipping and is exploring options on selling or leasing ships to Chinese shippers, Teddy Tang, chief financial officer of the company's Chinese operations, said in an interview in Beijing on Wednesday.

China Daily - Agencies

(China Daily 09/15/2011 page13)