CNPC to Explore Afghan Oilfields
CNPC, the parent of PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857), was approved by the Afghan government to explore three oilfields in the Amu Darya Basin. CNPC will establish a joint venture with Afghanistan's Watan Group to develop what will be the war-torn nation's first international project in a decade. According to the agreement, CNPC will pay the Afghan government a 15% resource tax, a 20% corporate tax and 70% of the profits from the oil block, which is estimated to hold 87 million barrels of oil.

China Telecom Budgets ¥300m for Novel Website
China Telecom Corp (NYSE: CHA, HKG: 0728) will invest a total of ¥300 million in, its online literature platform, and expects it will take five years for the site to break even, according to manager Xiao Wei. China Telecom has already invested ¥130 million in the site, which was launched in September 2010 and started charging in October 2011.

Huangshan Tourism to Raise ¥200m
Huangshan Tourism Development Co (SHA: 600054), a travel agency based in Anhui province, said it will issue ¥200 million worth of five-year non-collateral medium term notes on Friday to fund the construction of cable cars and a hotel in Xihai Canyon in Anhui.

Guangzhou Friendship to Buy ¥400m Banking Product
Guangzhou Friendship Group Co (SHE: 000987) said it plans to invest ¥400 million of "idle money" in short-term wealth management products offered by banks to lock in a flat yield.

Selen Science Plans ¥960m Offering
Shenzhen Selen Science & Technology Co (SHE: 002341), a supplier of electrostatic discharge and clean room system solutions, said it plans to conduct a private placement to raise ¥960 million to fund a factory in Suzhou, Jiangsu province, repay short-term loans and replenish capital.

Jangho Curtain Wall Signs ¥205m Saudi Deal
Beijing Jangho Curtain Wall Co (SHA: 601886) said it signed a ¥205 million contract with United Arab Aluminum Co. The amount is equivalent to 4% of its revenue in 2010.

$1 = ¥6.32

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