• China lends Nigeria Dollars 2bn in exchange for oil talks. • Ft com site : China oils Nigeria talks with loan

Chinese Premier Wen Jiabao also held talks with the visiting Nigerian president. During the talks, Wen said that China attaches great importance to relations with Nigeria, regarding it as a significant cooperative partner in Africa.
In recent years, China and Nigeria have effective cooperation in areas such as energy and telecommunications, Wen said. He hopes the cooperation could be expanded to broader fields such as agriculture, infrastructure and the manufacturing industry.
The Chinese premier said China's assistance to Africa is selfless, and is merely aimed at helping Africa to strengthen its ability to develop independently. China will continue to work with African countries including Nigeria to comprehensively implement the Action Plan adopted during the Sino-Africa Beijing Summit last year, in order to benefit both peoples, Wen said.
Yar'Adua agreed that Sino-Nigerian all-round cooperation has a broad potential. Nigeria believes that expanding mutually beneficial cooperation with China would help Nigeria to achieve its economic development goal. Nigeria is looking forward to broader and more pragmatic cooperation with the Chinese side, the president said.
Trade between Nigeria and China reached 3.13 billion U.S. dollars in 2006, up from 1.1 billion dollars in 2001, according to the latest data from China's Ministry of Commerce.
President Yar'Adua is on a four-day official visit to China, which is also his first visit to the country. (?)
Document XNHA000020080229e42t0008g
Nigeria hopes to strengthen economic ties with China: Nigerian President
261 words

29 February 2008

Xinhua's China Economic Information Service

XNHA

English

(c) 2008 Xinhua News Agency. All Rights Reserved
BEIJING, Feb. 29 (Xinhua) -- Nigeria hopes to strengthen its economic and trade cooperation with China with the highest-level visit yet, visiting Nigerian president Umaru Yar'Adua said here Friday when addressing the China-Nigeria Business Forum.
"Nigeria attaches great importance to Nigeria-China economic relations, which can be reflected in the level of this visiting delegation to China," said Yar'Adua to more than 300 businessmen from the two countries," this delegation is of the highest level since Nigeria declared independence in 1960."
Major Nigerian government officials, such as the minister of finance, foreign minister, minister of energy, minister of transportation and two governors and some leading businessmen in Nigeria's banking and industrial sectors are with this delegation.
Yar'Adua said Nigerian and Chinese businessmen could cooperate in fields such as oil and gas, agriculture, manufacturing, solid minerals, telecommunications, infrastructure, power generation, and the financial and capital market.
He said power generation is one of the most important departments for his government.
Trade between the two countries reached 4.4 billion U.S. dollars in 2007, compared to 3 billion U.S. dollars in 2006, while Chinese investment in Nigeria is estimated at 3 billion U.S. dollars.
"I hope this forum will open up opportunities for even more productive engagement between our two peoples," added Yar'Adua.
At the invitation of Chinese President Hu Jintao, Yar'Adua arrived here Wednesday night for a four-day state visit to China, the first since he assumed office in May 2007. (?)
Document XNHA000020080229e42t001jq
Repeat: China News Summary For Friday, February 29
470 words

29 February 2008

08:06 AM

Market News International

MARNEW

English

(c) 2008. Market News International, Inc.

-- Retransmitting Roundup Published 05:17 ET

FOREX
**The yuan ended at a record 7.1107 on the exchange-traded market

versus 7.1130 on the previous trading day. The central bank earlier set

the yuan central parity rate at a record 7.1058 to the dollar, compared

with 7.1209 the previous trading day.

MARKETS/ECONOMY

**The benchmark Shanghai Composite Index closed up 49.03 points or

1.14 pct at 4,348.54, led by financial and airline stocks, with

liquidity improving as unsuccessful applicants to China Railway

Construction's IPO received their refunds. Turnover fell slightly to

75.51 bln yuan from 75.53 bln in the previous session. The FTSE/XINHUA

A50 Index closed up 173.85 pts at 16,600.79.

**Chinese business conditions deteriorated sharply in February as

severe winter storms cut into production and already rising input costs

rose even more, results for the February Xinhua Finance/MNI China

Business Sentiment Survey suggest.
**The government may block private equity firms from bidding for a

34.3 pct stake in China International Capital Corp (CICC), the country's

leading investment bank, Caijing Magazine reported, citing a securities

regulator.
**Xinhua Finance and Milken Institute said their January China IPO

indicator suffered its largest month-on-month drop since 1997.
TRADE/POLITICS

**Growth in China's foreign trade in 2008 is expected to slow to

about 15 pct to 2.5 trln usd, the General Administration of Customs

said.
**US authorities announced Thursday they had seized more than 76

mln usd worth of counterfeit Cisco Systems computer equipment

manufactured in China over the past three years.
**China and Nigeria have vowed to expand cooperation in areas

ranging from energy and agriculture to telecommunications,

infrastructure and manufacturing, state media reported.
INDUSTRY

**China has estimated unproven iron ore reserves of more than 100

bln tons, the official Xinhua News Agency reported, citing a government

official.
** China National Petroleum Corp (CNPC), the parent of PetroChina Co

Ltd (SHA 601857;HK 0857), said it has started building a gas pipeline to

link north China and northeast China pipelines, in a move that would

increase gas supply to Beijing, Tianjin and Hebei provinces.
**Mobile operators China Mobile and China Unicom must implement a

new roaming scheme no later than April 1, the National Development and

Reform Commission said in a statement.

CORPORATE
**China's securities regulator has approved the establishment of a

fund management joint venture in Shanghai by France's Credit Agricole,

Agricultural Bank of China and Aluminum Corp of China Ltd (Chalco).
** China Eastern Airlines Corp and state-run aircraft maker China

Aviation Industry Corp I, or AVIC I, have won approval to set up a new

airline company, the General Administration of Civil Aviation said.
[TOPICS: M$Q$$$,M$A$$$,MBQ$$$]
Document MARNEW0020080229e42t000af
China News Summary February 29
467 words

29 February 2008

05:17 AM

Market News International

MARNEW

English

(c) 2008. Market News International, Inc.


China News Summary Friday February 29
FOREX
**The yuan ended at a record 7.1107 on the exchange-traded market

versus 7.1130 on the previous trading day. The central bank earlier set

the yuan central parity rate at a record 7.1058 to the dollar, compared

with 7.1209 the previous trading day.

MARKETS/ECONOMY

**The benchmark Shanghai Composite Index closed up 49.03 points or

1.14 pct at 4,348.54, led by financial and airline stocks, with

liquidity improving as unsuccessful applicants to China Railway

Construction's IPO received their refunds. Turnover fell slightly to

75.51 bln yuan from 75.53 bln in the previous session. The FTSE/XINHUA

A50 Index closed up 173.85 pts at 16,600.79.

**Chinese business conditions deteriorated sharply in February as

severe winter storms cut into production and already rising input costs

rose even more, results for the February Xinhua Finance/MNI China

Business Sentiment Survey suggest.
**The government may block private equity firms from bidding for a

34.3 pct stake in China International Capital Corp (CICC), the country's

leading investment bank, Caijing Magazine reported, citing a securities

regulator.
**Xinhua Finance and Milken Institute said their January China IPO

indicator suffered its largest month-on-month drop since 1997.
TRADE/POLITICS

**Growth in China's foreign trade in 2008 is expected to slow to

about 15 pct to 2.5 trln usd, the General Administration of Customs

said.
**US authorities announced Thursday they had seized more than 76

mln usd worth of counterfeit Cisco Systems computer equipment

manufactured in China over the past three years.
**China and Nigeria have vowed to expand cooperation in areas

ranging from energy and agriculture to telecommunications,

infrastructure and manufacturing, state media reported.
INDUSTRY

**China has estimated unproven iron ore reserves of more than 100

bln tons, the official Xinhua News Agency reported, citing a government

official.
** China National Petroleum Corp (CNPC), the parent of PetroChina Co

Ltd (SHA 601857;HK 0857), said it has started building a gas pipeline to

link north China and northeast China pipelines, in a move that would

increase gas supply to Beijing, Tianjin and Hebei provinces.
**Mobile operators China Mobile and China Unicom must implement a

new roaming scheme no later than April 1, the National Development and

Reform Commission said in a statement.

CORPORATE
**China's securities regulator has approved the establishment of a

fund management joint venture in Shanghai by France's Credit Agricole,

Agricultural Bank of China and Aluminum Corp of China Ltd (Chalco).
** China Eastern Airlines Corp and state-run aircraft maker China

Aviation Industry Corp I, or AVIC I, have won approval to set up a new

airline company, the General Administration of Civil Aviation said.
[TOPICS: M$Q$$$,M$A$$$,MBQ$$$]
Document MARNEW0020080229e42t00097

Greater China economic and corporate news summary
521 words

29 February 2008

05:27 AM

Xinhua Financial Network (XFN) News

XIFINN

English

(c) 2008 Xinhua Financial Network, Ltd. All rights reserved
BEIJING (XFN-ASIA) - A summary of Greater China economic and corporate news at 1000 GMT:
HONG KONG: -Jan M1 money supply up 7.7 pct from Dec, up 19.9 pct on yr -April-Jan budget surplus 122.6 bln hkd -Govt unveils 62 sites available for bidding by property firms next fiscal yr -Exchange Fund total assets 1.45 trln hkd end-Jan, up 34.1 bln vs Dec
-Shoemaker Belle Intl to acquire Mirabell Intl for 1.67 bln hkd -TCL Communication 2007 net profit 33.1 mln hkd vs 15.4 mln -New Swire Pacific hotel unit to focus on luxury properties in Greater China -TOM Group's 'BB+' ratings remain on credit watch - S&P
CHINA: -China 2008 foreign trade growth seen slowing to 15 pct - customs -China overcapacity problem could surface in H2 - Lehman Bros -China untapped iron ore reserves seen at over 100 bln tons - Xinhua -State planner urges mobile operators to implement roaming scheme -China begins large-scale TD-SCDMA network trials in 10 cities - state TV -China, Nigeria to deepen bilateral ties - Xinhua -Xinhua Finance/MNI China biz sentiment survey shows conditions deteriorated in Feb -Xinhua Finance/Milken Institute China IPO indicator records big drop in Jan
- China Eastern Airlines, AVIC I win approval to set up new airline - Jiangxi Copper to buy 4.2 pct of Nanchang City Commercial Bank -Royal & Sun Alliance China unit raises capital to 500 mln yuan from 240 mln - PetroChina begins building 300 mln yuan gas purification plant for Sichuan field -CNPC constructing new gas pipeline to link north, northeast China networks -China approves Shenhua Energy's 20 mln ton capacity coal mine in Erdos -China Lifestyle Food FY profit constrained by rising costs -Suning Appliance 2007 net profit 1.465 bln yuan vs 757.64 mln -Suning Appliance FY net profit up 93.42 pct on strong demand, expansion -Singapore-listed Ouhua Energy 2007 net profit down 35.15 pct as LPG sales fall -Aegon China insurance JV wins approval to open Guangzhou unit -Credit Agricole, Agricultural Bank of China, Chalco fund JV approved -Music association sues Baidu over links to songs -ZTE wins CDMA contract from Ukraine's ITC Telecom - Xinhua -China Import & Export Bank issues 10 bln yuan in 5-yr bonds, yield 4.82 pct -Haikou Meilan Airport issues 740 mln yuan in short-term debts -HK-listed Xinao Gas unit issues 600 mln yuan in 1-yr debt; yield 5.95 pct -Fuyao Glass drops share issue plan
TAIWAN: -Ccentral bank to 'closely monitor' foreign investor activity in forex mkt -Central bank attributes currency gains to usd weakness, capital inflows -Jan bad check ratio by value 0.59 pct vs 0.70 pct in Dec -Taiwan-China 2007 trade 102.3 bln usd, up 16.1 pct yr-on-yr -Taiwan records 3.44 bln usd net inflow from foreign investors Feb 1-22 -Taiwan consortium to develop industrial zone in Saudi Arabia
-High Tech Computer to inject 42.96 mln usd into Shanghai plant
[e-mail]
06179477
Document XIFINN0020080229e42t00669

Greater China economic and corporate news summary
521 words

29 February 2008

05:28 AM

AFX Asia

AFXASI

English

(c) 2008, AFX Asia. All rights reserved.
BEIJING (XFN-ASIA) - A summary of Greater China economic and corporate news at 1000 GMT:
HONG KONG:
-Jan M1 money supply up 7.7 pct from Dec, up 19.9 pct on yr
-April-Jan budget surplus 122.6 bln hkd
-Govt unveils 62 sites available for bidding by property firms next fiscal yr
-Exchange Fund total assets 1.45 trln hkd end-Jan, up 34.1 bln vs Dec
-Shoemaker Belle Intl to acquire Mirabell Intl for 1.67 bln hkd
-TCL Communication 2007 net profit 33.1 mln hkd vs 15.4 mln
-New Swire Pacific hotel unit to focus on luxury properties in Greater China
-TOM Group's 'BB+' ratings remain on credit watch - S&P
CHINA:
-China 2008 foreign trade growth seen slowing to 15 pct - customs
-China overcapacity problem could surface in H2 - Lehman Bros
-China untapped iron ore reserves seen at over 100 bln tons - Xinhua
-State planner urges mobile operators to implement roaming scheme
-China begins large-scale TD-SCDMA network trials in 10 cities - state TV
-China, Nigeria to deepen bilateral ties - Xinhua
-Xinhua Finance/MNI China biz sentiment survey shows conditions deteriorated in Feb
-Xinhua Finance/Milken Institute China IPO indicator records big drop in Jan
- China Eastern Airlines, AVIC I win approval to set up new airline
- Jiangxi Copper to buy 4.2 pct of Nanchang City Commercial Bank
-Royal & Sun Alliance China unit raises capital to 500 mln yuan from 240 mln
- PetroChina begins building 300 mln yuan gas purification plant for Sichuan field
-CNPC constructing new gas pipeline to link north, northeast China networks
-China approves Shenhua Energy's 20 mln ton capacity coal mine in Erdos
-China Lifestyle Food FY profit constrained by rising costs
-Suning Appliance 2007 net profit 1.465 bln yuan vs 757.64 mln
-Suning Appliance FY net profit up 93.42 pct on strong demand, expansion
-Singapore-listed Ouhua Energy 2007 net profit down 35.15 pct as LPG sales fall
-Aegon China insurance JV wins approval to open Guangzhou unit
-Credit Agricole, Agricultural Bank of China, Chalco fund JV approved
-Music association sues Baidu over links to songs
-ZTE wins CDMA contract from Ukraine's ITC Telecom - Xinhua
-China Import & Export Bank issues 10 bln yuan in 5-yr bonds, yield 4.82 pct
-Haikou Meilan Airport issues 740 mln yuan in short-term debts
-HK-listed Xinao Gas unit issues 600 mln yuan in 1-yr debt; yield 5.95 pct
-Fuyao Glass drops share issue plan
TAIWAN:
-Ccentral bank to 'closely monitor' foreign investor activity in forex mkt
-Central bank attributes currency gains to usd weakness, capital inflows
-Jan bad check ratio by value 0.59 pct vs 0.70 pct in Dec
-Taiwan-China 2007 trade 102.3 bln usd, up 16.1 pct yr-on-yr
-Taiwan records 3.44 bln usd net inflow from foreign investors Feb 1-22
-Taiwan consortium to develop industrial zone in Saudi Arabia
-High Tech Computer to inject 42.96 mln usd into Shanghai plant
[e-mail]
MMMM
Document AFXASI0020080229e42t005sr

Nigerian president says Nigeria hopes to strengthen economic ties with China
299 words

29 February 2008

05:16 AM

BBC Monitoring Asia Pacific

BBCAPP

English

(c) 2008 The British Broadcasting Corporation. All Rights Reserved. No material may be reproduced except with the express permission of The British Broadcasting Corporation.
Text of report in English by official Chinese news agency Xinhua (New China News Agency)
["Nigeria Hopes To Strengthen Economic Ties With China: Nigerian President" - Xinhua headline]
BEIJING, Feb. 29 (Xinhua) - Nigeria hopes to strengthen its economic and trade cooperation with China with the highest-level visit yet, visiting Nigerian president Umaru Yar'Adua said here Friday when addressing the China-Nigeria Business Forum.
"Nigeria attaches great importance to Nigeria-China economic relations, which can be reflected in the level of this visiting delegation to China," said Yar'Adua to more than 300 businessmen from the two countries," this delegation is of the highest level since Nigeria declared independence in 1960."
Major Nigerian government officials, such as the minister of finance, foreign minister, minister of energy, minister of transportation and two governors and some leading businessmen in Nigeria's banking and industrial sectors are with this delegation.
Yar'Adua said Nigerian and Chinese businessmen could cooperate in fields such as oil and gas, agriculture, manufacturing, solid minerals, telecommunications, infrastructure, power generation, and the financial and capital market.
He said power generation is one of the most important departments for his government.
Trade between the two countries reached 4.4 billion US dollars in 2007, compared to 3 billion US dollars in 2006, while Chinese investment in