China's business press carried the following stories on Tuesday. China.org.cn has not checked the stories and does not vouch for their accuracy.

CIC to invest US$500 mln in Canada's SouthGobi – China Securities Journal

China Investment Corporation (CIC) announced Monday that it will invest US$500 million in Canadian company SouthGobi Energy Resources Limited.

The transaction will be conducted through CIC's wholly-owned subsidiary Fullbloom Investment Corp. and is in the form of a 30-year secured convertible debenture.

SouthGobi Energy Resources is a coal exploration and development company in Canada. The company owns coal mines in Mongolia's South Gobi region and Indonesia's Kalimantan area. SouthGobi's major business is exploiting coal in Mongolia and selling it to China.

Central bank official: China to keep yuan stable – China Securities Journal

China will keep its currency rate stable in the foreseeable future, said a central bank official on Monday.

Yi Gang, deputy governor of China's central bank, the People's Bank of China, said in a seminar that inflation is not a big risk for China in the foreseeable future. The central bank will focus on preventing a possible deflation. Yi also predicted that the consumer price index (CPI) will return to positive territory in the fourth quarter.

ICBC to acquire Thailand's ACL Bank --  Beijing Business Today

The Industrial and Commercial Bank of China (ICBC) plans to buy Thailand's ACL Bank PCL for US$546 million next January, media reports quoted Thailand's Finance Minister Korn Chatikavanij as saying.

Last month ICBC reached an agreement with Bangkok Bank PCL to buy a 19.26 percent stake in ACL Bank from the latter for 3.55 billion baht (US$106 million).

Korn also said that Thailand's Ministry of Finance had agreed to sell the 30.6 percent stake it owned in ACL Bank to ICBC.

ACL Bank, headquartered in Bangkok, owns 16 branches around Thailand.

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