Two Chinese Companies to Join Hang Seng Index
PetroChina and China Shenhua Energy are both expected to be added to the Hong Kong Hang Seng Index next week, after the two mainland Chinese companies completed their A-share reform programmes. PteroCHina’s expected weighting would make it one of the top four stocks on eh Index, alongside HSBS, China Mobile and China Life Insurance. On Monday, the Hang Seng hit a record high amid speculation that the US Federal Reserve will cut interest rates by Wednesday.

China Introduces Public Office Energy Monitoring
The Beijing government is launching a pilot project to monitor energy consumption in government offices and large publicly owned buildings. The project has already begun in China’s four city municipalities, Beijing, Shanghai, Tianjin and Chongqing, as well as major cities in 15 provinces. The project will be rolled out nationwide later this year, according to Xinhua.

China Merchants Plans New Shenzhen Cargo Berths
China Merchants Holdings will invest around RMB3.5 bn to build a five-berth multi-purpose shipping terminal at Shenzhen port. The move is a bid to boost cargo traffic and fend off strong competition from rapidly enlarging ports throughout the Pearl River Delta. The five berths will be built at Qianhaiwan port, and would add a quay length of around 2,100 metres to handle raw materials, agricultural products and manufacturing goods.

Coal-power Closures as Shanghai Covets Cleaner Air
Shanghai’s determination to clean up its air quality ahead of the 2010 World Expo, took a further step this weekend. The city has announced that it will close down seven coal-fired power plants, with a total capacity of 2.1 million kilowatts. State media reports that the closures will reduce annual sulphur dioxide emissions by about 80,000 tonnes.

Natural Disasters Take Toll
Natural disasters, including typhoons, flooding and drought, have affected more than two million people in China so far this year, and caused damage totalling more than RMB4.4 bn.

Last update : Monday, 29 October 2007

Keywords : Two Chinese Companies to Join Hang Seng Index, China Introduces Public Office Energy Monitoring, China Merchants Plans New Shenzhen Cargo Berths, Coal-power Closures as Shanghai Covets Cleaner Air, Natural Disasters Take Toll

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