Sales of luxury cars in China jumped 40% in the first nine months of this year, well ahead of the 3.5% rate for overall vehicle sales in the country, statistics show.
Aluminum Corporation of China (NYSE: ACH, SHA: 601600, HKG: 2600) is considering listing its Chilean Toromocho copper mine in Hong Kong in 1H 2012 to raise $1 billion. The mine is expected to become operational by 2013 and profitable by 2014, when it will be capable of producing 250,000 tons of copper concentrate and a small amount of silver and molybdenum per year. BNP Paribas, China International Capital Corp and Morgan Stanley (NYSE: MS) were reportedly to underwrite the stock sale.
Bank of China Ltd (SHA: 601988, HKG: 3988) signed a memorandum of understanding with Cathay Financial Holding Co, Taiwan's largest listed financial service provider, for cooperation doing business on the mainland. No details were disclosed. Cathay Financial signed similar MOUs with Agricultural Bank of China Co (SHA: 601288, HKG: 1288) and Bank of Communications Co (SHA: 601328, HKG: 3328) earlier this year.
$1 = ¥6.37