- No more rescuing Shanghai [IHT]
Now that PetroChina’s stock is trading in Shanghai, this year’s surge in Chinese shares will lose one of its catalysts: the mainland debuts of Hong Kong-listed companies.
- China Railway Group sets plans for Shanghai IPO [IHT]
China Railway Group Ltd., a state-owned builder of railway lines, will begin subscriptions for an initial public offering in Shanghai on Nov. 20, the company said in an announcement Wednesday.
- Dollar Falls to Record on China’s Plans to Diversify Reserves [Bloomberg]
The dollar fell to a record versus the euro and the weakest since 1981 against the pound after Chinese officials signaled plans to diversify the nation’s $1.43 trillion of foreign exchange reserves.
- Little-Known Entrepreneurs Putting China Near Top of Billionaires’ List [NY Times]
Unlike America’s rich, China’s are hardly famous, even here. Bill Gates and Warren E. Buffett are known around the world. Yet, who they are, and what they decide to do — or are allowed to do — with their money and newfound influence will have political and economic consequences in China and probably far beyond, analysts say.
- Half of Shanghai’s drug addicts aged under 35 [China Daily]
Drug addicts in the city are getting younger, figures from the local drug agency have revealed. According to Zhou Weihang, director of the Shanghai anti-drug office, at the end of September, more than 50 percent of the city’s 32,000 registered drug users were under 35.
- Euro concerns to be voiced on Beijing trip [Financial Times]
European efforts to encourage a speedier appreciation of the Chinese renminbi will step up a gear this month amid concerns the euro is bearing the brunt of global macroeconomic adjustments.
Photo from theshanghaieye.