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在线翻译:
szdaily -> Business_Markets
News Bites
    2017-August-23  08:53    Shenzhen Daily

Shares higher on continued Unicom surge

STOCKS ended higher as a unit of China Unicom surged by the daily limit for a second day, and as financial and materials firms also experienced strong gains.

The blue-chip CSI300 index rose 0.3 percent, to 3,752.57 points, while the Shanghai Composite Index gained 0.1 percent, to 3,291.03 points. China United Network Communications shares rose 10 percent for a second consecutive day of limit-up trade. China Molybdenum, a major nonferrous metals producer, added 6.6 percent. Despite the rise, its shares are down 7.8 percent this month after gaining nearly 43 percent in July. Ping An Insurance Group Co. of China led gains among financial firms, rising 4.1 percent. The financial sub-index rose 1 percent for the day.

Financial guarantee firms face new rules

THE State Council on Monday issued guidelines on supervision of financial guarantee companies.

Registered capital of financing guarantee companies should be no less than 20 million yuan (US$3.00 million), the State Council said in a statement, adding that these firms cannot provide guarantees for their controlling shareholders. Financial guarantee insurance provides investors in debt securities with guaranteed payment of interest and principal in the event that the issuer of the guaranteed debt is unable to meet its financial obligations.

COFCO Capital draws new shareholders

A GROUP of State and private companies will invest a total of 6.9 billion yuan (US$1.04 billion) in COFCO Capital, a subsidiary of State agribusiness COFCO Group, according to a notice published Monday on a State investment platform.

COFCO Capital’s new shareholders include State-run investors such as the State-owned Enterprise Structural Adjustment Fund and Beijing Capital Agribusiness Group, as well as privately-owned Guangdong Wen’s Foodstuff Group, according to the statement on the website of China Chengtong Group.

Seven Group to sell Chinese mining machinery biz

AUSTRALIA’S Seven Group Holdings said yesterday it would sell its Chinese mining machinery division WesTrac China to Chinese firm Lei Shing Hong Machinery for A$540 million (US$428 million).

Lei Shing Hong Machinery is a subsidiary of Chinese conglomerate Lei Shing Hong, which distributes Caterpillar earthmoving, mining and construction equipment throughout eastern China.

 

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