CIC completed deals with Indonesia's Bumi, Singapore's Noble
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China's business press carried the following stories on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
CIC completed deals with Indonesia's Bumi, Singapore's Noble -- Caijing Magazine
China Investment Corporation, the country's US$200 billion sovereign wealth fund, announced on Thursday two recent deals in overseas commodity-related companies.
CIC recently bought US$1.9 billion of debt in Indonesian coal miner PT Bumi Resources Tbk. (Bumi). The sovereign wealth fund also purchased 573 million shares in Singapore's Noble Group Limited at 2.11 Singapore dollars per share, for a total of US$858 million. Noble is a market leader in managing the global supply chain of agricultural, industrial and energy products.
Petrobras signs US$10b loan agreement with China Development Bank -- Oriental Morning News
Petroleo Brasileiro SA (Petrobras), Brazil's largest oil company, announced Wednesday that it has completed a loan contract of US$10 billion with China Development Bank (CDB), the Oriental Morning News reported Friday.
Under the agreement, CDB will lend the US$10 billion to Petrobras in several batches before the end of 2013. In return, Petrobras will provide 150,000 barrels of crude oil to China in 2009 and 200,000 barrels per day from 2010 to 2019. In total, Petrobras will export 97.5 million tons of crude oil in the next 10 years.
The agreement also includes a long-term export contract between Petrobras and China International United Petroleum & Chemical Co., Ltd., a wholly-owned subsidiary of China Petroleum & Chemical Corporation (Sinopec).
Official: Central bank to continue with moderately loose monetary policy -- Shanghai Securities News
The People's Bank of China (PBOC), China's central bank, will continue its current moderately loose monetary policy, keep the country's liquidity reasonably ample and promote private direct investment, said Guo Qingping, assistant governor of the PBOC.
Although China has successfully prevented its economic growth from sliding, the country's economic recovery still faces many uncertainties from both home and abroad, Guo noted.
As a result, Guo reiterated that the central bank would continue to carry on with the moderately loose monetary policy. The PBOC will also properly handle the relations between maintaining a stable and rapid economic growth, adjusting economic structure and managing inflation.
AVIC Aircraft to go listed early in 2010 -- China Securities Journal
AVIC Aircraft, a major subsidiary of Aviation Industry Corporation of China (AVIC), plans to inject assets into its listed arm Xi'an Aircraft International Corp., China Securities Journal reported Friday, citing AVIC Aircraft general manager Hu Xiaofeng.
Shares of Xi'an Aircraft International have been suspended from trading since Nov. 2.
AVIC Aircraft owns most of AVIC's assets concerning transport aircraft and passenger aircraft and is mainly engaged in the design and production of China's large- and medium-sized aircraft.
"Xi'an Aircraft International's shares were suspended from trading because of this assets injection plan," Hu said, adding that his company plans to complete the asset restructuring by the first quarter of 2010 and use Xi'an Aircraft International as a platform to help AVIC Aircraft get listed as a whole.
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