jeypore
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- Thread starter Neo
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SinoIndusFriendship
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China and India have unique but similar challenges. China is sea-locked by Japan, Philippines, Malaysia, Indonesia, and Taiwan (until reunification). India is land-locked by Pakistan, Nepal, Bhutan, BD, and Myanmar.
We can learn and appreciate each other's predicaments.
SinoIndusFriendship
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Deleted by self.
Reason: Arguing is not conducive to building lasting friendship. We need to start from person-to-person exchanges, then nation-to-nation exchange. There is no reason why we need be jealous if the other does well, why can't we be happy for each other's progress???
Reason: Arguing is not conducive to building lasting friendship. We need to start from person-to-person exchanges, then nation-to-nation exchange. There is no reason why we need be jealous if the other does well, why can't we be happy for each other's progress???
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Jako
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Dear sir, my humble self is not trolling. Just call it world experience.Also not singling any nation out, as I see similar problems everywhere. With due respects to mother India, she has great perseverance and earn much respect from me. China, Latin America, Iran, Germany, you name it - we all have similar challenges. This world is a crazy and wild place. Humanity is in this together.
ok,nice words indeed.......but,whats the fuss about indian male and female ratio?....you said you visited india once that too in 2005,now with only one visit how can you put forward such a theory ......,and how do you know india exports homosexuality to singapore,being flooded by it?.......fishy indeed
SinoIndusFriendship
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Self-deleted. Reason is I want to be friends with India. No point in pointing out each others weak points (which one already recognize).
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Jako
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Female infantacide. Let's not dwell on this. Regarding Singapore, the guest workers are imported to assist with construction and other blue collar jobs. Most are males, and besides this day job at night they offer "other" services. For everyone's benefit, let's get back on topic.
sorry but i want an end to this......the ratio is generally released by the govt after census every ten years i believe,with what proof you disagree to that?.........yes there are many indian male workers in singapore,but how do you know that they are all GAY,and about their night service?....how dare you insult my country on stupid crappy assumptions,that god knows how you make?........how can you assume so much after one ******* visit?......how can you use indian words like 'gora','desi' and others with such flexibility?.........I WANT ANSWERS,DAMN IT!
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aimarraul
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China approves new economic zone in NE coast
(Xinhua)
Updated: 2009-07-01 19:59
SHENYANG: China's State Council, the Cabinet, approved plans Wednesday to develop the coastal economic belt in the northeastern Liaoning Province in effort to rejuvenate the traditional industrial base.
The economic belt, covering about 700 square km, will focus on shipbuilding, petroleum refining, advanced equipment manufacturing, raw materials, high-tech industries and agriculture processing, according to the plan.
The zone comprises ports of Dalian, Jinzhou, Yingkou, Huludao and Dandong, which opened navigation services to more than 140 countries and regions.
"The zone will become an important engine for the rejuvenation of the the northeast industrial base," said Lin Muxi, Economics School dean of Liaoning University.
"Since the Chinese government started to develop eastern coastal cities such as Shenzhen and Shanghai, the Pearl River delta and the Yangtze River delta have seen rapid growth," he said. "Now the government is paying closer attention to the underdeveloped regions like Liaoning and Guangxi."
Previously, China gave the green light to the coastal areas in east China's Jiangsu Province, the Beibu Bay in Guangxi and the economic zone on the western side of Taiwan Straits in Fujian Province.
(Xinhua)
Updated: 2009-07-01 19:59
SHENYANG: China's State Council, the Cabinet, approved plans Wednesday to develop the coastal economic belt in the northeastern Liaoning Province in effort to rejuvenate the traditional industrial base.
The economic belt, covering about 700 square km, will focus on shipbuilding, petroleum refining, advanced equipment manufacturing, raw materials, high-tech industries and agriculture processing, according to the plan.
The zone comprises ports of Dalian, Jinzhou, Yingkou, Huludao and Dandong, which opened navigation services to more than 140 countries and regions.
"The zone will become an important engine for the rejuvenation of the the northeast industrial base," said Lin Muxi, Economics School dean of Liaoning University.
"Since the Chinese government started to develop eastern coastal cities such as Shenzhen and Shanghai, the Pearl River delta and the Yangtze River delta have seen rapid growth," he said. "Now the government is paying closer attention to the underdeveloped regions like Liaoning and Guangxi."
Previously, China gave the green light to the coastal areas in east China's Jiangsu Province, the Beibu Bay in Guangxi and the economic zone on the western side of Taiwan Straits in Fujian Province.
aimarraul
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China vows to further co-op with Indonesia
(Xinhua)
Updated: 2009-07-01 20:03
BEIJING: China on Wednesday called for more cooperation with Indonesia to push forward bilateral ties.
"China and Indonesia are strategic partners," Vice Premier Li Keqiang said when meeting with visiting Indonesian Foreign Minister Hasan Wirayuda.
Li said that the bilateral ties had stepped into a track of mature, rapid and stable growth, with increasing mutual political trust, effective cooperation in various areas and close coordination in major international and regional affairs.
The two nations, both as major developing countries, shared broad common interests and enjoyed great potentials in making win-win cooperation, according to the vice premier.
Chinese Foreign Minister Yang Jiechi also told Hasan during their talks that the China-Indonesia friendly cooperation had made achievements continuously.
According to Yang, the meeting of the China-Indonesia dialogue mechanism of vice premier level was held successfully. The longest cross-sea bridge in Southeast Asia, the Suramadu Bridge linking East Java province and Madura Island in Indonesia, was completed and opened to the public this June with China's support.
In 2008, the trade value between China and Indonesia reached US$31.5 billion, already above the initial target set for 2010 at US$30 billion.
"China attaches great importance to the important and active role Indonesia plays in the regional and international affairs," said Yang.
Hasan agreed that Indonesia-China relationship was experiencing a healthy development.
He reiterated Indonesia's adherence to the one-China policy.
The two foreign ministers signed an agreement on extradition between the two countries after their talks.
Hasan was here on an official visit from July 1 to 2 at the invitation of Yang .
(Xinhua)
Updated: 2009-07-01 20:03
BEIJING: China on Wednesday called for more cooperation with Indonesia to push forward bilateral ties.
"China and Indonesia are strategic partners," Vice Premier Li Keqiang said when meeting with visiting Indonesian Foreign Minister Hasan Wirayuda.
Li said that the bilateral ties had stepped into a track of mature, rapid and stable growth, with increasing mutual political trust, effective cooperation in various areas and close coordination in major international and regional affairs.
The two nations, both as major developing countries, shared broad common interests and enjoyed great potentials in making win-win cooperation, according to the vice premier.
Chinese Foreign Minister Yang Jiechi also told Hasan during their talks that the China-Indonesia friendly cooperation had made achievements continuously.
According to Yang, the meeting of the China-Indonesia dialogue mechanism of vice premier level was held successfully. The longest cross-sea bridge in Southeast Asia, the Suramadu Bridge linking East Java province and Madura Island in Indonesia, was completed and opened to the public this June with China's support.
In 2008, the trade value between China and Indonesia reached US$31.5 billion, already above the initial target set for 2010 at US$30 billion.
"China attaches great importance to the important and active role Indonesia plays in the regional and international affairs," said Yang.
Hasan agreed that Indonesia-China relationship was experiencing a healthy development.
He reiterated Indonesia's adherence to the one-China policy.
The two foreign ministers signed an agreement on extradition between the two countries after their talks.
Hasan was here on an official visit from July 1 to 2 at the invitation of Yang .
aimarraul
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China industry on more solid ground: surveys
(Agencies)
Updated: 2009-07-01 20:10
BEIJING: China's manufacturing sector extended a steady if unspectacular recovery in June, surveys released on Wednesday showed, adding to evidence across Asia that the regional economy is finally pulling out of a deep dive.
"I believe the current recovery has been confirmed and can be sustained," Fan Gang, an economist who advises the central bank, told a financial forum.
Fan predicted China's exports will be growing again, from a low base, by the end of the year.
The official purchasing managers' index (PMI) for June rose to 53.2 from 53.1 in May, consolidating for the fourth month in a row above the watershed mark of 50.
A companion index compiled for brokerage CLSA improved to 51.8 from 51.2, its third month in positive territory, as output grew at the strongest rate in a year and overseas orders rose for the first time in 11 months.
A reading over 50 indicates an expansion in manufacturing sector, while one below 50 suggests contraction.
"We take it as signalling that the green shoots of economic recovery have taken root and are likely to blossom in the second half of 2009," Steven Zhang and Qing Wang at Morgan Stanley said in a note to clients.
Beijing responded to last autumn's slump in global demand with a massive 4 trillion yuan ($585 billion) stimulus package, loose credit policy and an array of tax breaks.
Alongside improvements in other timely data such as power consumption, tax revenues, industrial profits and cars sales, Wednesday's reports indicate that the pump-priming is working.
Glimmers of Hope
China accounts for only 7 percent of global output at market rates, so it cannot be expected to haul the rest of the world out of recession. But global investors have responded positively to the improved news flow recently out of Beijing.
Japanese construction makers such as Komatsu and Hitachi Construction, which often rise when there are expectations of orders to be won in China, gained 1.8 percent and 1.6 percent, respectively, on Wednesday. The surveys also helped to underpin a rebound in oil prices
Shanghai's main stock index jumped 1.7 percent to a 13-month high. Shares across the region, by contrast, were little changed as investors took the view that a turnaround to global recovery was likely to be a slow grind.
The recovery in export business revealed in the Chinese surveys was partially reflected in South Korea, where exports fell by 11.3 percent in June from a year earlier, the slowest decline since October.
"The worst is apparently behind us, and the economy is gearing for a faster-than-expected recovery," said Song Jae-Hyok, an economist at SK Securities.
A survey of Indian manufacturers was also broadly positive, with domestic demand boosting activity to an eight-month high.
Economists at J.P Morgan last Friday raised their projection for second-quarter gross domestic product growth in emerging Asia, forecasting quarter-on-quarter growth of more than 10 percent at an annualised rate.
That reflects assumptions that quarter-on-quarter growth in industrial output will surge at a 35 percent annualised pace -- and nearly 40 percent in China's case.
The World Bank, the Organisation for Economic Cooperation and Development and a clutch of banks have all upgraded their growth forecasts for China in the past two weeks.
The government's goal of 8 percent GDP growth for all of 2009, once dismissed as fanciful, now looks attainable.
Andy Rothman, CLSA's China macro strategist, reaffirmed his target of 8 percent but said the risks were now clearly on the upside. "It is now safe to say that a sustainable recovery is well under way in China," he said in a note to clients.
Likewise, Mingchun Sun with Nomura in Hong Kong said the buyers' surveys suggested that the revival in manufacturing was gaining a stronger foothold and reaffirmed his forecast of 8 percent GDP growth this year and 10 percent in 2010.
Not everyone is getting carried away.
Li Hongrong, an economist with Ping An Securities in Shenzhen, cautioned that momentum in investment and industrial output could fizzle out.
"It is hard to say whether economic growth will trace a V or a W shape, but we believe a slowdown will take place next year when the effects of the government's push run out," Li said.
(Agencies)
Updated: 2009-07-01 20:10
BEIJING: China's manufacturing sector extended a steady if unspectacular recovery in June, surveys released on Wednesday showed, adding to evidence across Asia that the regional economy is finally pulling out of a deep dive.
"I believe the current recovery has been confirmed and can be sustained," Fan Gang, an economist who advises the central bank, told a financial forum.
Fan predicted China's exports will be growing again, from a low base, by the end of the year.
The official purchasing managers' index (PMI) for June rose to 53.2 from 53.1 in May, consolidating for the fourth month in a row above the watershed mark of 50.
A companion index compiled for brokerage CLSA improved to 51.8 from 51.2, its third month in positive territory, as output grew at the strongest rate in a year and overseas orders rose for the first time in 11 months.
A reading over 50 indicates an expansion in manufacturing sector, while one below 50 suggests contraction.
"We take it as signalling that the green shoots of economic recovery have taken root and are likely to blossom in the second half of 2009," Steven Zhang and Qing Wang at Morgan Stanley said in a note to clients.
Beijing responded to last autumn's slump in global demand with a massive 4 trillion yuan ($585 billion) stimulus package, loose credit policy and an array of tax breaks.
Alongside improvements in other timely data such as power consumption, tax revenues, industrial profits and cars sales, Wednesday's reports indicate that the pump-priming is working.
Glimmers of Hope
China accounts for only 7 percent of global output at market rates, so it cannot be expected to haul the rest of the world out of recession. But global investors have responded positively to the improved news flow recently out of Beijing.
Japanese construction makers such as Komatsu and Hitachi Construction, which often rise when there are expectations of orders to be won in China, gained 1.8 percent and 1.6 percent, respectively, on Wednesday. The surveys also helped to underpin a rebound in oil prices
Shanghai's main stock index jumped 1.7 percent to a 13-month high. Shares across the region, by contrast, were little changed as investors took the view that a turnaround to global recovery was likely to be a slow grind.
The recovery in export business revealed in the Chinese surveys was partially reflected in South Korea, where exports fell by 11.3 percent in June from a year earlier, the slowest decline since October.
"The worst is apparently behind us, and the economy is gearing for a faster-than-expected recovery," said Song Jae-Hyok, an economist at SK Securities.
A survey of Indian manufacturers was also broadly positive, with domestic demand boosting activity to an eight-month high.
Economists at J.P Morgan last Friday raised their projection for second-quarter gross domestic product growth in emerging Asia, forecasting quarter-on-quarter growth of more than 10 percent at an annualised rate.
That reflects assumptions that quarter-on-quarter growth in industrial output will surge at a 35 percent annualised pace -- and nearly 40 percent in China's case.
The World Bank, the Organisation for Economic Cooperation and Development and a clutch of banks have all upgraded their growth forecasts for China in the past two weeks.
The government's goal of 8 percent GDP growth for all of 2009, once dismissed as fanciful, now looks attainable.
Andy Rothman, CLSA's China macro strategist, reaffirmed his target of 8 percent but said the risks were now clearly on the upside. "It is now safe to say that a sustainable recovery is well under way in China," he said in a note to clients.
Likewise, Mingchun Sun with Nomura in Hong Kong said the buyers' surveys suggested that the revival in manufacturing was gaining a stronger foothold and reaffirmed his forecast of 8 percent GDP growth this year and 10 percent in 2010.
Not everyone is getting carried away.
Li Hongrong, an economist with Ping An Securities in Shenzhen, cautioned that momentum in investment and industrial output could fizzle out.
"It is hard to say whether economic growth will trace a V or a W shape, but we believe a slowdown will take place next year when the effects of the government's push run out," Li said.
aimarraul
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China launches first direct flight linking Beijing, Lhasa
(Xinhua)
Updated: 2009-07-01 23:21
BEIJING: Air China, the nation's biggest carrier, said Wednesday it will launch the nation's first direct flight between Beijing and Lhasa, the capital city of southwestern Tibet Autonomous Region, beginning July 10 to promote tourism.
The three-hour-fifty-minute flight will be operated by the Airbus A330.
Previously, travelers had to transfer through Chengdu, the capital city of Sichuan Province neighboring Tibet. The transfer added two hours to the flight.
CA4122 will leave at 7 a.m. everyday from the Beijing Capital International Airport, and arrive at the Lhasa Gonggar Airport at 10:50 a.m..
welcome to tibet
(Xinhua)
Updated: 2009-07-01 23:21
BEIJING: Air China, the nation's biggest carrier, said Wednesday it will launch the nation's first direct flight between Beijing and Lhasa, the capital city of southwestern Tibet Autonomous Region, beginning July 10 to promote tourism.
The three-hour-fifty-minute flight will be operated by the Airbus A330.
Previously, travelers had to transfer through Chengdu, the capital city of Sichuan Province neighboring Tibet. The transfer added two hours to the flight.
CA4122 will leave at 7 a.m. everyday from the Beijing Capital International Airport, and arrive at the Lhasa Gonggar Airport at 10:50 a.m..
welcome to tibet
asian mentallity? how funny,huh? you Amercans r so blind?
if China have a situation like USA,who would lend money to us? you ?
the US goverment know that nobody want to see her collapse ,because you have dollar,you can print more to make your trouble to become others'.
do you think you had done somethings to help southeast Asia to get out of financial crisis in 1997,but i know that this crisis is a result of some of Americans like George Soros。
we just care more about our future when we r in troubles,and i am sure that no west country or their allis in asia will help us
although we lend some money to help you and your allies,we just dont want to face 1929 again.
aimarraul
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Iraqi crude deal 'boost' for China's oil security quest
By Wan Zhihong (China Daily)
Updated: 2009-07-02 09:58
The successful joint bid by BP and China National Petroleum Corp (CNPC) to develop an oilfield in Iraq has offered unique opportunities for the Chinese company to tap crude reserves in the oil-rich nation, analysts said yesterday.
But domestic oil producers should prepare themselves well for any uncertainties in the war-torn country, which boasts of the third-largest oil reserves in the world, they added.
Iraqi crude deal 'boost' for China's oil security quest
Iraq on Tuesday made its first auction of major oil contracts since the 2003 US-led invasion. A consortium by BP and CNPC was finally awarded a contract to develop the Rumaila oilfield, the largest of six oil and two natural gas fields in the bidding.
The BP-CNPC group beat a bid from a consortium by Exxon Mobil and Malaysia's Petronas for the oilfield. It was the only successful bid in Tuesday's auction.
Besides CNPC, China's two other oil majors, Sinopec and CNOOC also took part in Tuesday's auction.
Rumaila is the workhorse of Iraq's oil sector, with a current capacity of 1.1 million barrels per day (bpd) out of Iraq's total national output of 2.4 million bpd.
With a foothold in Iraq, China can diversify its oil supplies to enhance energy security, said Lin Boqiang, professor, Xiamen University, adding that the consortium model can reduce risks both for BP and CNPC.
China, which became a net oil importer 16 years ago and which relies on imported oil for nearly half its requirement currently, has already seen domestic production peaking, said Lin. "The increase in China's oil consumption in future may all come from overseas oil reserves."
China imported 179 million tons of crude oil in 2008, an increase of 9.6 percent from the year earlier. Analysts said there was little doubt that oil imports would see rapid increases, as there existed a big gap between domestic consumption and production.
Statistics showed that China's oil consumption experienced around 5 percent annual growth in recent years. However, the country's crude oil production only saw a 2 percent increase year-on-year.
According to a report by the State Information Center, 55 percent of the country's oil consumption would have to be met by imports in the year 2010, and the figure would further rise to 66 percent in 2020.
On June 24, Sinopec Group, China's second largest oil company, agreed to acquire the Geneva-based oil and gas producer Addax Petroleum Corp for $7.3 billion.
If the deal gets approved, it would be China's largest overseas energy acquisition. Addax has operations in Iraq and in West Africa.
Some experts contend that the West should not be concerned about a substantial Chinese presence in Iraqi oilfields, because it gives China a greater stake in improving stability in the region, the New York Times said on its website on Tuesday.
This was the right time for domestic oil companies to accelerate their overseas acquisitions, as they would "get more reasonable prices in making deals", said Yin Xiaodong, an oil analyst.
"But, compared to their Western counterparts, Chinese companies still lack experience in overseas acquisitions. So, they should be more cautious in making such deals," Lin of Xiamen University said.
By Wan Zhihong (China Daily)
Updated: 2009-07-02 09:58
The successful joint bid by BP and China National Petroleum Corp (CNPC) to develop an oilfield in Iraq has offered unique opportunities for the Chinese company to tap crude reserves in the oil-rich nation, analysts said yesterday.
But domestic oil producers should prepare themselves well for any uncertainties in the war-torn country, which boasts of the third-largest oil reserves in the world, they added.
Iraqi crude deal 'boost' for China's oil security quest
Iraq on Tuesday made its first auction of major oil contracts since the 2003 US-led invasion. A consortium by BP and CNPC was finally awarded a contract to develop the Rumaila oilfield, the largest of six oil and two natural gas fields in the bidding.
The BP-CNPC group beat a bid from a consortium by Exxon Mobil and Malaysia's Petronas for the oilfield. It was the only successful bid in Tuesday's auction.
Besides CNPC, China's two other oil majors, Sinopec and CNOOC also took part in Tuesday's auction.
Rumaila is the workhorse of Iraq's oil sector, with a current capacity of 1.1 million barrels per day (bpd) out of Iraq's total national output of 2.4 million bpd.
With a foothold in Iraq, China can diversify its oil supplies to enhance energy security, said Lin Boqiang, professor, Xiamen University, adding that the consortium model can reduce risks both for BP and CNPC.
China, which became a net oil importer 16 years ago and which relies on imported oil for nearly half its requirement currently, has already seen domestic production peaking, said Lin. "The increase in China's oil consumption in future may all come from overseas oil reserves."
China imported 179 million tons of crude oil in 2008, an increase of 9.6 percent from the year earlier. Analysts said there was little doubt that oil imports would see rapid increases, as there existed a big gap between domestic consumption and production.
Statistics showed that China's oil consumption experienced around 5 percent annual growth in recent years. However, the country's crude oil production only saw a 2 percent increase year-on-year.
According to a report by the State Information Center, 55 percent of the country's oil consumption would have to be met by imports in the year 2010, and the figure would further rise to 66 percent in 2020.
On June 24, Sinopec Group, China's second largest oil company, agreed to acquire the Geneva-based oil and gas producer Addax Petroleum Corp for $7.3 billion.
If the deal gets approved, it would be China's largest overseas energy acquisition. Addax has operations in Iraq and in West Africa.
Some experts contend that the West should not be concerned about a substantial Chinese presence in Iraqi oilfields, because it gives China a greater stake in improving stability in the region, the New York Times said on its website on Tuesday.
This was the right time for domestic oil companies to accelerate their overseas acquisitions, as they would "get more reasonable prices in making deals", said Yin Xiaodong, an oil analyst.
"But, compared to their Western counterparts, Chinese companies still lack experience in overseas acquisitions. So, they should be more cautious in making such deals," Lin of Xiamen University said.
aimarraul
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Local banks to fund Chinalco's rights bid
(China Daily)
Updated: 2009-07-02 10:08
Chinese banks will fund Aluminum Corp of China (Chinalco) in the $15.2-billion rights issue of Australian mining firm Rio Tinto, media reports said.
China Development Bank (CDB), a policy bank, and Agricultural Bank of China (ABC), one of the four biggest commercial banks in the country, will extend a credit line to Chinalco, which according to both the Financial Times and the Daily Telegraph, was set to subscribe to the issue for around $1.46 billion.
"Negotiations over the financing between CDB and Chinalco have been completed and, I guess, the detailed arrangement will be released soon," reported 21st Century Business Herald yesterday, citing an anonymous person within the banking industry.
But the person did not reveal the exact amount the policy bank would lend to Chinalco or the rate of interest on the loan.
ABC will also fund Chinalco in the rights issue, according to a report by Shanghai Securities News. An unnamed source from the bank said the loan amount this time round would be large.
ABC reached an agreement with Chinalco in April to grant the latter a comprehensive credit line of 100 billion yuan; the current loan is likely to be a part of this credit facility.
In March, a group of banks, including CDB, ABC, the Export-Import Bank of China and Bank of China, signed a contract with Chinalco, agreeing to jointly fund $21 billion for Chinalco's investment in Rio Tinto.
However, the proposed $19.5-billion investment plan was rejected by Rio Tinto on June 5. The company agreed to cooperate with another Australian mining firm BHP Billiton Ltd and went for a $15.2-billion rights issue.
According to a separate statement Chinalco filed with the Shanghai Stock Exchange yesterday, the company will issue no more than 1 billion A shares to at most 10 institutional investors through private placement, aiming to raise up to 10 billion yuan to fuel cash flow and expand processing plants in Chongqing, Shanxi and Henan.
The shares will be issued within six months of the project being approved by the China Securities Regulatory Commission, it said.
(China Daily)
Updated: 2009-07-02 10:08
Chinese banks will fund Aluminum Corp of China (Chinalco) in the $15.2-billion rights issue of Australian mining firm Rio Tinto, media reports said.
China Development Bank (CDB), a policy bank, and Agricultural Bank of China (ABC), one of the four biggest commercial banks in the country, will extend a credit line to Chinalco, which according to both the Financial Times and the Daily Telegraph, was set to subscribe to the issue for around $1.46 billion.
"Negotiations over the financing between CDB and Chinalco have been completed and, I guess, the detailed arrangement will be released soon," reported 21st Century Business Herald yesterday, citing an anonymous person within the banking industry.
But the person did not reveal the exact amount the policy bank would lend to Chinalco or the rate of interest on the loan.
ABC will also fund Chinalco in the rights issue, according to a report by Shanghai Securities News. An unnamed source from the bank said the loan amount this time round would be large.
ABC reached an agreement with Chinalco in April to grant the latter a comprehensive credit line of 100 billion yuan; the current loan is likely to be a part of this credit facility.
In March, a group of banks, including CDB, ABC, the Export-Import Bank of China and Bank of China, signed a contract with Chinalco, agreeing to jointly fund $21 billion for Chinalco's investment in Rio Tinto.
However, the proposed $19.5-billion investment plan was rejected by Rio Tinto on June 5. The company agreed to cooperate with another Australian mining firm BHP Billiton Ltd and went for a $15.2-billion rights issue.
According to a separate statement Chinalco filed with the Shanghai Stock Exchange yesterday, the company will issue no more than 1 billion A shares to at most 10 institutional investors through private placement, aiming to raise up to 10 billion yuan to fuel cash flow and expand processing plants in Chongqing, Shanxi and Henan.
The shares will be issued within six months of the project being approved by the China Securities Regulatory Commission, it said.
Spitfighter
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Why should India and China fight? We are simply competitors, we both have a long way to go so it would be ridiculous to throw away all that we have managed to gain after such a long and hard fight. Both countries understand this, of course both do things to gain an upper hand but both countries realize the importance of peace and stability at this critical juncture.
India has always had the means to prop up and sustain a bloody insurgency in Tibet, China in return could have done the same, attacked in the NE and inflicted heavy losses on our side, if we had to fight we would've done it a long time ago. These little disputes are nothing, India and China will never go to war, not for a long time. (62 was an unintended conflict)
We have a lot of catching up to do, the people in the west have so many opportunities and so many facilities, even the maids here in the US have cars. In a country of 300 million, the state pays/heavily subsidizes higher education, they've sent robots to mars, they can wipe out anyone anywhere sitting at home. The US is fighting two wars and people here just go about their lives normally. Europe however reluctantly is always right behind the US. The median income is in the tens of thousands, they are ahead of us in every imaginable sphere of development, their power is unparalleled, the list goes on and on.
Peace and cooperation is the way forward. For South Asia, for Asia.
India has always had the means to prop up and sustain a bloody insurgency in Tibet, China in return could have done the same, attacked in the NE and inflicted heavy losses on our side, if we had to fight we would've done it a long time ago. These little disputes are nothing, India and China will never go to war, not for a long time. (62 was an unintended conflict)
We have a lot of catching up to do, the people in the west have so many opportunities and so many facilities, even the maids here in the US have cars. In a country of 300 million, the state pays/heavily subsidizes higher education, they've sent robots to mars, they can wipe out anyone anywhere sitting at home. The US is fighting two wars and people here just go about their lives normally. Europe however reluctantly is always right behind the US. The median income is in the tens of thousands, they are ahead of us in every imaginable sphere of development, their power is unparalleled, the list goes on and on.
Peace and cooperation is the way forward. For South Asia, for Asia.
- Status
