IN BRIEF (Page 13)

US power firm eyes assets sale

AES Corp, the first US power producer to enter China about two decades ago, is looking to sell all or some of its assets in the nation as the company is hobbled by not being able to pass on higher coal costs, said three sources familiar with the process The sources said Arlington, Virginia-based AES, which has a market value of around $10.5 billion, recently hired an investment bank to kick off the process. A sale or sales could potentially be worth $300 to $400 million.

Cross-border capital plan

China's foreign-exchange regulator is seeking to establish a means of monitoring cross-border cash flows as it tries to curb speculative influxes of so-called hot money. Such a system would make the oversight of capital flows more efficient, the State Administration of Foreign Exchange said in a statement on its website on Tuesday.

The regulator aims to ensure that the customs and taxation bureaus, along with other related agencies, could work jointly to effectively curb "irregular transactions".

Agencies

(China Daily 02/22/2012 page13)