RIM in talks with China Telecom on Blackberry's entry into China
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China's business press carried the following stories on Monday. China.org.cn has not checked the stories and does not vouch for their accuracy.
RIM in talks with China Telecom on Blackberry's entry into China -- China Business News
Research in Motion (RIM), the producer of Blackberry smartphones, is in talks with China Telecom on the introduction of the Blackberry to China, sources with RIM China told China Business News.
RIM and China Telecom have reached the final stage of negotiation and are expected to announce their cooperation details before the end of the year, the source said. Communication and email services will be introduced early next year.
A reason for RIM's interest in the Chinese market is because China's smartphone market is the fastest growing in the world. According to the estimates of iSuppli, shipments of smartphones in China will reach 30.2 million units in 2010, up 42.5 percent from the 21.2 million units in 2009.
Sinopec likely to buy parent company's overseas assets by year end -- National Business Daily
China Petroleum & Chemical Corporation (Sinopec) may purchase some of its parent company Sinopec Group's quality assets before the end of this year, said Wang Xinhua, Chief Financial Officer of Sinopec, on Sunday.
Sinopec Group owns oil assets in multiple countries, including Russia, Australia and Canada.
By the end of 2008, the production of Sinopec Group's overseas oil assets reached 9.01 million tons. The group has explorable oil reserves of 160 million tons.
Central banker: Keeping yuan rate stable an 'extreme measure' -- China Securities Journal
China's keeping its currency exchange rate stable is an "extreme measure" adopted to cope with the global financial crisis, said Zhou Xiaochuan, governor of China's central bank, over the weekend.
Zhou noted that China's current currency policy is the same policy as the one the country adopted during the Asian financial crisis in 1997.
The yuan exchange rate has been kept stable since the breakout of the global financial crisis. China will allow the yuan to float freely, Zhou said, adding that it will take some time to achieve this goal.
Economist: China may tighten monetary policy in H1 2010 -- Oriental Morning Post
China may end the currently loose monetary policy and adopt a new, tighter monetary policy in the first half of 2010, Tsinghua University Professor Li Daokui told a forum over the weekend.
With the development of the macro-economic situation, the Chinese government is bound to reconsider and discuss the country's monetary policy, Li said. The shift to a tighter monetary policy is aimed to cope with the excess global liquidity.
Listed securities firms profited 16.2b yuan in first 9 months -- China Securities Journal
The ten publicly listed securities firms posted a total profit of 16.2 billion yuan in the first nine months, the China Securities Journal reported Monday.
According to Wind Info statistics, the ten securities companies' net profit reached 5.79 billion yuan in the third quarter, up 145.06 percent compared to the end of 2008.
By the end of September, the total assets of the ten listed securities companies amounted to 457.8 billion yuan, rising 43.97 percent compared to the end of last year.
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