IN BRIEF (Page 13)

Yuan heads for equilibrium

The Chinese yuan is moving toward equilibrium after a volatile second half of 2011 and there will be a sharper focus on cross-border capital flows to fight speculation in the fledgling foreign-exchange market, according to the State Administration of Foreign Exchange on Monday.

Equities hit 3-month high

Stocks on the Chinese mainland rose on Monday, driving the benchmark index to a three-month high. The advance came on expectations that the government will further loosen monetary policies to spur growth. China Vanke Co gained among developers after a newspaper reported suggestions from a former central bank official to help boost lending. Dongfeng Automobile Co and Anhui Jianghuai Automobile Co jumped 10 percent after China said it included only domestic brands in its official-vehicle purchases this year.

CNPC, Siemens sign agreement

China National Petroleum Corp and Siemens AG signed a cooperation agreement in Beijing, according to CNPC's online newsletter on Monday. The companies will work together on energy production and oil equipment manufacturing as part of the agreement, according to the report.

Maersk reports annual loss

Maersk Line, the container division of the Copenhagen-based shipping conglomerate AP-Moller Maersk Group, reported an annual loss of $600 million in 2011, compared with a profit of $2.6 billion in the previous year, according to the company's financial statement released on Monday. The negative result was mainly caused by depressed container freight rates on the Asia-Europe route.

China Daily - Agencies

(China Daily 02/28/2012 page13)