CITICS: Morning News 20081107 government, investment, agreement, domestic, receives

yangruoxin

China Headlines:

1. Agricultural Bank of China receives 130 bln yuan capital injection (Xinhua Agency)
   The Agricultural Bank of China (ABC) on Thursday signed an agreement with Central Huijin Co., an investment arm of the government, for a 130-billion-yuan (19 billion U.S. dollars) capital injection in preparation for a final stock listing.

2. China to boost domestic demand by improving social security system (Securities Times)
  
3. PBoC to Provide Short-term Financing for foreign banks' China Branch. (Wall Street Journal)

4. Domestic Electricity Generation Saw Negative Growth in Oct., the first time since Feb. 2005, Down 0.5%. Electric Power generation declined by 2%.

5. Chalco Idles 38% of Alumina Production Capacity as Prices, Demand Plunge
   Aluminum Corp. of China Ltd., the nation's biggest producer of the metal, said it's idled 38 percent of its alumina capacity because of falling prices and demand. Four Chinese steel mills set to cut production on slump demands.
 
6. Trade fair deals fall 16% as credit crisis deepens while Customs Official say export fundamentals are good despite Slowed Growth
  Contracts signed during the 104th China Import and Export Fair in Guangzhou, the provincial capital of Guangdong, totaled 31.55 billion U.S. dollars. That's down 17.5 percent from the previous fair held in April and down 15.8 percent from the autumn fair last year, leaving many exporters deeply worried about their survival.

7. UBS Added 14 A-share Bluechips yesterday in total of 45.7mn shares cost RMB300mn, Sectors include 4 banks, 2 steel companies, 1 oil-refiner, 1 broker , and etc.

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