Business Roundup: Manipulation, IPOs and Schumer strikes again

• Bank of China's IPO is hot.
• On the other end of China's state banks, the Agricultural Bank of China is not hot. At all.
• Shortly after deciding not to label China a currency manipulator, the US welcomed news that the yuan passed the big 8.0 mark, the highest since last July's revaluation.
• Bloomberg offers interesting commentary on strategic reasons behind the US decision not to label China a currency manipulator, and a new strategy that may be used in the US fight against undervaluation of China's currency.
• Shanghaiist's favorite American senator, Chuck Schumer, just can't shut up, and has decided that China is not in fact moving forward quickly enough, despite contradicting statements made shortly after a recent China tour. He's going back to original threats of that ridiculous protectionist bill he and Senator Graham came up with.
• After a year-long haitus, China's recovering (but still risky) stock markets are again open for initial public offerings.
• China announced fixed asset investments increased 29.6 percent in the first four months of 2006 compared to the same period in 2005. The government has promised to implement more of those "cooling" measures.
• Google, in talks with China Mobile to launch a search engine service for mobile phones in China, continues its China conquest.

Photo from rachelleb.com.