Industry
Steel - Chinese steelmakers are not engaged in dumping of surplus goods into the European Union, China's Ministry of Commerce said on Wednesday.
Property - China's major real estate developers' sales surged in January thanks to a series of property easing policies by the government, including a relaxation in housing purchase regulations.
Macro
- China's investment in fixed assets amounted to 55.1 trillion yuan (nearly $8.5 trillion) last year, showing a YoY growth of only 10 percent, down from a growth of 15.7 percent in 2014 and 20.6 percent in 2012. Fixed-asset investment in the manufacturing sector grew by only 8 percent last year. In an attempt to prevent too rapid a decline from upsetting the whole economy, the central government has injected 5 trillion yuan, since February 2014, into the programs it selected for industrial and public service development.
- China will raise the deposit interest rate for its housing provident fund to give higher interest rates on their savings. The rate will be increased to 1.5 percent starting from Feb. 21, PBOC said in a statement. The current rate is 0.35 percent or 1.1 percent, depending on when the deposits were placed. The housing provident fund is a saving program that allows employees and employers to set aside a portion of wages to be used as deposits on home purchases.
- China's top economic planner approved 21 fixed-asset investment projects with total investment reaching 54.1 billion yuan (8.3 billion U.S. dollars) in January, an official said on Wednesday. The projects covered water conservancy, transportation, technology and energy, said NDRC spokesperson at a press conference.
Beer - Beer consumption in China saw the largest decline in five years last year, with domestic brands still dominating the market.
Company
Vtron Technologies (002308): Company announced acquiring 33.71% shareholdings of a n education service company at 60mn yuan, aiming to continue extending business on preschool education. Company resumes trading today.
Qingdao Haili Metal One (002537): Company released acquisition plan, intending to acquire 91.56% shareholdings of UMPAY, a mobile payment company, by raising more than 3bn yuan, aiming to develop third-party payment, mobile Info. and block chain business. Company resumes trading today.
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