IN BRIEF (Page 13)

Sinopec pipeline work suspended

China Petroleum & Chemical Corp (Sinopec) has been ordered by the Ministry of Environmental Protection to halt construction of a crude-oil pipeline in southern China. The suspension has been imposed because the company hasn't provided an environmental-protection plan, according to a statement on the ministry's website on Monday.

The pipeline, running between Zhanjiang port in Guangdong province and Tieshan port in Guangxi, also lacks the formal approval of local governments.

New think tank is launched

Beijing Normal University and the Washington-based Emerging Markets Forum on Monday launched a think tank focusing on research into economic and social issues in Asia.

The think tank, called the Emerging Markets Institute, has been established to provide systematic comprehensive study into the opportunities and challenges facing the emerging markets. Its main objective is to provide policy advice on economic and social development, plus advisory services on international investment and trade.

Tencent plans bond issuance

Tencent Holdings Ltd, China's biggest Internet company by revenue, plans to issue between $500 million and $1 billion of bonds, in its first issue of US dollar-denominated debt, sources said on Monday.

"Tencent needs the money not only for expansion purposes, but also for some acquisitions it has made," a source close to the deal told Reuters.

Steel makers post losses

China's 25 major steel makers suffered a total loss of 2.13 billion yuan ($333 million) in October, Luo Bingsheng,the deputy Party secretary of the China Iron and Steel Association, told a conference on Saturday.

The industry as a whole made a total profit of 1.38 billion yuan in October with a profit margin of 0.47 percent, a record low in industrial history, said Luo.

China Daily - Agencies

(China Daily 12/06/2011 page13)