CSG news update -- 2006-10-29

From China Study Group <chinastudygroup@gmail.com>
Date Sun, 29 Oct 2006 02:00:32 -0800

China Study Group news update

Overseas help sought by state pension fund
Daily Telegraph | 2006-10-28
Mark Kleinman 
China's US$30 billion (HK$234 billion) state pension fund will soon appoint overseas firms to manage its assets for the first time as the country tries to avert a demographic time bomb.   The National Social Security Fund is negotiating with some of the world's largest fund managers, inclu...

Chinese IPO attracts $19 billion
LA Times | 2006-10-28
Don Lee
SHANGHAI  China's biggest bank launched the world's largest initial public offering of stock Friday, underscoring the nation's powerful economic growth and the significant strides made in its long-troubled financial sector.   Industrial & Commercial Bank of China, the largest of...

Reaching Out to Chinese on Campus
Washington Post | 2006-10-28
Diana Xiong
The August Moon Festival is one of the most celebrated of the traditional Chinese holidays. It marks the end of the harvest season, similar to Thanksgiving. To honor it, dozens of Chinese college students packed the fellowship hall at Fairfax's Truro Church this month. The pungent smell of Chine...

Key events in China's marathon property law legislation
Xinhua | 2006-10-28
China's top legislature on Friday began to discuss the sweeping property bill for a rare sixth time. If voted by the National People's Congress's full session next March, the bill will be the country's first specific law to protect private ownership.   Following are some key events...

China debates landmark property law
AFP | 2006-10-28
Beijing - Chinese lawmakers are debating the nation's first property law, which could change the way the nominally communist country views private property, state media reported Saturday.   The standing committee of the National People's Congress is deliberating the law for a record sixth ...

China draws a veil across the mountains
The Guardian | 2006-10-28
Ed Douglas
Carrying the Olympic flame to the summit of Everest live on television is, even by Chinese standards, a demanding challenge.  This week mountaineering authorities in Lhasa announced they wanted to limit the number of foreign climbers on the Tibetan side of the 8,850 metre (29,035ft) peak in spring...

Price Surges on Debut Day for Shares in China Bank
New York Times | 2006-10-28
David Barboza
SHANGHAI  Shares of Industrial and Commercial Bank of China, the country's largest state-owned bank, soared 15 percent on their first day of trading on Friday, in a spectacular debut for the biggest initial offering in history.   After raising about $21 billion from investors, shares be...

China enhances state assets protection
Xinhua | 2006-10-27
China's lawmakers are again debating a controversial law on the protection of private property as they struggle with the concept that experts say "could undermine the legal foundation of China's socialist system."   The latest draft has included "the protection of state, collective, and pr...

Meager income means no health services
China Daily | 2006-10-26
Guo Qiang
Standing in front of a poster of 'Autumn Remembrance', a movie directed by Zhang Yimou, and starring his ex-wife Gong Li and singer-actor Jay Zhou at the upscale Stellar International Cinepix, Huang Qingping's girlfriend told him she wanted to see that film next, because she is a fan of ...

Foreign investment in real estate soars
Xinhua | 2006-10-26
Foreign investment in the Chinese real estate sector soared to 1.44 billion U.S. dollars in the first half year, according to a report by consulting firm CB Richard Ellis.  The investment was 15 percent higher than for the whole of 2005, said the report carried by Wednesday's Shanghai Securiti...

Who wants to be a trillionaire?
The Economist | 2006-10-26
BY THE end of October China's foreign-exchange reserves are likely to top $1 trillion, twice their level two years ago and more than one-fifth of global reserves. This handsome sum would be enough to buy all the gold sitting in central banks' vaults (indeed, twice over) or almost all of Lond...