888China.com - Real-Time China News and China Information - Saturday July 04 2009

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  China fund to buy $1.5 bln stake in Canadian miner (AFP)

Stock prices are displayed at a securities firm in Beijing. China's sovereign wealth fund said it would buy $1.5 bln worth of shares of the Canadian mining company Teck Resources Ltd. The purchase by the China Investment Corp would amount to a 17.2% equity stake in Teck, giving the $200 bln wealth fund a 6.7% voting interest in the mining company, according to the corporation.(AFP/File/Peter Parks)AFP - China's sovereign wealth fund said it would buy 1.5 billion dollars worth of shares of the Canadian mining company Teck Resources Ltd.

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  Shanghai plans own "Wall Street bull": report (Reuters)
Reuters - Wall Street may be down on its luck, but China's growing business hub, Shanghai, plans to install its own version of the Street's famed charging bull statue, casting in metal its hopes to eventually rival New York.
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  China Investment buying stake in Teck Resources (AP)
AP - Mining company Teck Resources Ltd. said Friday it is selling a 17 percent stake to China Investment Corp. for 1.74 billion Canadian dollars ($1.5 billion) in a bid to reduce its debt.
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  New bubbles rising in China property market: state media (AFP)

A view of new office and residential buildings in the so-called central business district of Beijing. China's recent moves to ease curbs on the real estate sector have sent prices soaring recently, stoking fears that new property bubbles are forming, according to state media.(AFP/File/Peter Parks)AFP - China's recent moves to ease curbs on the real estate sector have sent prices soaring recently, stoking fears that new property bubbles are forming, state media reported Friday.

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  Contractors blamed for Shanghai building collapse (AFP)

A 13-storey residential building under construction in Shanghai fell over on June 27. The building that collapsed last week, killing a construction worker, did so because contractors had recklessly shifted the earth at its base, the city government said.(AFP/File)AFP - A Shanghai building which collapsed last week, killing a construction worker, did so because contractors had recklessly shifted the earth at its base, the city government said.

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  China says deadly bus fire was deliberately set (AP)

FILE - In this June 5, 2009 file photo a burning bus is seen in Chengdu, southwest China's Sichuan province. A Chinese bus fire that killed 27 people and injured dozens last month was deliberately set by a man who committed suicide, state media said Friday July 3, 2009. (AP Photo/File)AP - A Chinese bus fire that killed 27 people and injured dozens last month was deliberately set by a man who committed suicide, state media said Friday.

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  China students upset over mandatory summer drills (AP)

Students at the Capital Institute of Physical Education walk past a backdrop prepared for a ceremony marking the mobilization of personnel for the 60th National Day celebrations at the school's field in Beijing, China, Wednesday, July 1, 2009. As the government gears up for a lavish celebration to mark Communist China's 60th anniversary on Oct. 1, indignation is being voiced by many students across the city who are unhappy about having to sacrifice their summer holidays to prepare for the event. (AP Photo/Ng Han Guan)AP - Until last week, Alice Li's summer plans were simple: work part-time at a convenience store, study for graduate exams and go to the amusement park with friends.

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  USTR investigating reports China blocks U.S. poultry (Reuters)
Reuters - The U.S. government is concerned about industry reports that China will stop issuing import permits for chicken, a spokeswoman for the U.S. Trade Representative said Thursday.
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  PC makers voluntarily supply Web filter in China (AP)

Children use computers in a library in Xiangfan in central China's Hubei province Wednesday July 1, 2009. In a rare reversal, China's government gave in to domestic and international pressure and backed down from a rule that would have required personal computers sold in the country to have Internet-filtering software. Just hours before the rule was to have taken effect Wednesday, the government said it would postpone the requirement for the 'Green Dam' software. (AP Photo)AP - Several PC makers were including controversial Internet-filtering software with computers shipped in China on Thursday despite a government decision to postpone its plan to make such a step mandatory.

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  China may allow foreign firms to list: govt (AFP)

China may allow foreign firms with investments inside the country to list domestically, as part of efforts to boost trader confidence during the global downturn, according to an official. The remarks came as figures showed foreign direct investment in China had fallen for an eighth straight month in June as overseas companies grow more cautious due to the crisis.(AFP/File/Chai Hin Goh)AFP - China may allow foreign firms with investments inside the country to list domestically, as part of efforts to boost trader confidence during the global downturn, according to an official.

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  China says Web censor plan to proceed: report (AFP)

A man uses a laptop computer at a wireless cafe in Beijing. Chinese authorities insisted an Internet filtering programme will go ahead despite a last-minute decision this week to postpone making it mandatory on new PCs, state media said.(AFP/Frederic J. Brown)AFP - Chinese authorities insisted an Internet filtering programme will go ahead despite a last-minute decision this week to postpone making it mandatory on new PCs, state media said.

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  China opposed to tariff plan in US climate bill (AP)
AP - China said Thursday it opposed part of a landmark U.S. bill to cut greenhouse gas emissions, saying tariffs should not be imposed on countries that do not cut emissions.
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  China wants diversified global monetary system: govt (AFP)

China said Thursday it wanted a broader global monetary system days before President Hu Jintao (pictured on June 19) was set to leave for the G8 summit, during which the issue of a new reserve currency could be raised.(AFP/File/Hrvoje Polan)AFP - China said it wanted a broader global monetary system days before President Hu Jintao was set to leave for the G8 summit, during which the issue of a new reserve currency could be raised.

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  China paper says Web filter only a matter of time (Reuters)
Reuters - It is only a matter of time before a controversial scheme to install Internet filtering software on all computers begins in China, a state newspaper said on Thursday, after the plan was abruptly delayed this week.
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  Beijing to encourage foreign firms to list in China (Reuters)
Reuters - The Ministry of Commerce is working with other ministries to encourage foreign-funded firms to make public share offerings in China, a senior official said on Thursday.
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