China could soon make its presence felt in the French power sector as its sovereign wealth fund said it had studied investments in both Areva, the state-owned nuclear group, and its energy equipment division.
The China Investment Corporation has paid a visit to Areva executives in recent weeks to seek out information on “the business and its performance”, according to one person close to the company.
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Tag Archives: Economy
Chinese wealth fund eyes Areva investment
China’s long march to stock exchange stability
There is a rich vein to mine when searching for patterns and precedents that might help explain gyrations in western markets. Those searching for plausible parallels for this year’s bounce have travelled back as far as the Panic of 1907.
History, alas, is not much help when it comes to making sense of market movements in one of the world’s most ancient civilisations. China’s stock exchange – launched by communist rulers as a grudging experiment in the early 1990s – is a mere teenager, and often acts like one. It is a confused creature, prone to hormonal highs and lows, and occasionally frustrated by parental (read government) supervision that is too permissive one month, too strict the next.
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CHINA STIMULUS RISKS DAMAGING DEVELOPMENT
China’s much-vaunted stimulus package has exacerbated structural imbalances in the economy and may delay the country’s transition to a more sustainable growth model, according to some leading economists.
Most analysts regard the Rmb4,000bn ($585bn, €410bn, £355bn) plan, unveiled in November, as an appropriate response to the crisis and say it pulled the economy out of what could have been a much deeper slump.
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Architects win Chinese banking projects
RMJM, one of the world’s biggest architectural practices, has won a slew of design commissions from state-owned Chinese banks.
Eighteen months ago the UK-based group won the contract to design a 200-metre high headquarters for China Merchants Bank on Shanghai’s Bund, which is under construction.
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Developed markets feel the impact of China tremors
When the US sneezes, the rest of the world catches a cold – or so the old saying goes.
But in recent days it has been the sickly Chinese stock market that has been blamed for infecting markets in other parts of the world.
Take yesterday – the Shanghai Composite index fell 4.3 per cent. Other Asian markets dropped sharply and bourses in Europe initially followed suit before recovering later.
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Stocks Fall as China Slumps; Commodities Drop, Yen, Bonds Rise
China’s stocks dropped, briefly dragging the benchmark index into a so-called bear market and triggering declines in equities and commodities worldwide. The yen and Treasuries rose as investors sought less risky assets.
The MSCI World Index of 23 developed nations sank 0.3 percent at 12:45 p.m. in London and futures on the Standard & Poor’s 500 Index slid 0.8 percent. China’s Shanghai Composite Index slumped as much as 5.1 percent, extending its drop from a 2009 high to more than 20 percent, the common definition of a bear market. Copper fell 2.1 percent. The yen strengthened against all 16 of the most-traded currencies tracked by Bloomberg and the pound weakened. The 10-year Treasury yield dropped to its lowest level since July 14.
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China goes house hunting to rev up economy
The Chinese government is attempting to pass the baton of growth from state-funded infrastructure investment to the private housing sector, a risky but necessary move to sustain the economic recovery.
Construction cranes sprouting in big cities, busy furniture shops and soaring property sales all show that the transition is going smoothly so far, though officials are wary that house prices may rise too high, too quickly.
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CHINA-AUSTRALIA $41BN DEAL
China’s largest energy company agreed yesterday to buy $41bn worth of natural gas from Australia at a signing ceremony that was intended to put a positive gloss on strained relations between the trading partners.
Martin Ferguson, Australia’s energy and resources minister, was in Beijing to witness the signing of PetroChina’s agreement to buy 2.25m metric tonnes a year of liquid natural gas from ExxonMobil’s Gorgon project off the coast of the state of Western Australia.
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AMERICA SHOULD NOT TAKE CHINA TOO SERIOUSLY
By David Pilling 2009-07-31
What a difference an “and” makes. The US-China Strategic Economic Dialogue (SED), a twice-yearly bilateral encounter centred on economic issues, has morphed under President Barack Obama into the broader Strategic and Economic Dialogue (S&ED). For those with a grammatical bent, the addition of a conjunction transforms the word “strategic” from an adjective describing the economic dialogue into a portmanteau adjective describing anything Hillary Clinton damn well wants.
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