E-tickets to be new standard
(China Daily)
Updated: 2006-10-23 10:28
ICBC off to a strong start
The world-record US$19.1 billion public offer by Industrial and Commercial
Bank of China (ICBC) was met with great enthusiasm by domestic and overseas
investors last week.
The bank, the largest by assets in China, began accepting subscriptions from
institutional investors for shares to be listed in Shanghai and simultaneously
launched an H-share public offering in Hong Kong.
The initial public offering represents about 15 per cent of the bank's
enlarged share capital.
African summit not all about oil
China relies mainly on domestic resources for energy supply and is not
pushing for more oil imports from Africa, a senior planning official said last
week.
Asked if a summit with African nations early next month would produce more
oil deals, Zhang Yuqing of the National Development and Reform Commission said:
"Whether China will increase oil imports from Africa will be determined by
mutual business consultations."
Zhang, deputy chief of the commission's energy bureau, said that imports
constituted less than 10 per cent of China's total energy consumption, and those
from Africa accounted for less than a third of the imports.
(For more biz stories, please visit Industry Updates)
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