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Asia Top News and Analysis Shanghai

  • BEIJING, Oct 13- China National Petroleum Corporation has started operating the third natural gas pipeline into Shanghai, looking to boost supply of the clean fuel to the city of more than 24 million people. The 88- km line connects a coastal liquefied natural gas terminal in Rudong, in Jiangshu province, with Shanghai's Chongming island, CNPC said on Friday in...

  • SYDNEY, Oct 13- Nickel led across-the-board gains in Shanghai metals futures on Friday on bets China's Communist Party congress next week will result in stronger demand for imports. A weakened U.S. dollar and growing arbitrage opportunities, particularly in copper, were also fueling gains, according to commodities traders, as premiums for copper held in China...

  • BEIJING, Sept 4- President Xi Jinping of China is expected to place trusted allies in the Communist Party's key decision-making Politburo during a leadership reshuffle at the 19th party Congress this autumn, according to multiple Chinese sources and foreign diplomats. He served as Chongqing party boss before being put under investigation in July for...

  • MELBOURNE, Oct 12- Australia's Macquarie Group, a rising commodities bank powerhouse due to its turn towards the energy sector, is paring back its aggressive lending against metals, three sources familiar with the matter told Reuters. Macquarie, which this year broke into the top three banks for commodities, has trimmed back its loans against physical metals...

  • MELBOURNE, Oct 12- London copper climbed to its highest in more than a month on Thursday, underpinned by robust demand in China and a weaker U.S. dollar. *CHINA DEMAND: Solid demand in China has opened the' arbitrage window' for copper imports, traders said. Premiums for copper held in China bonded zones have climbed by $9 this week to $74, the highest in more than two...

  • The Hurun Report, China's best-known list of its wealthiest people, estimated that wealth held by Xu, founder of developer Evergrande, surged to $43 billion, moving him up nine places from last year. Evergrande, based in the southern city of Guangzhou, is one of China's biggest property developers. Familiar faces from China's tech industry rounded out the top five,...

  • MELBOURNE, Oct 12- London copper inched to its highest in more than a month on Thursday, underpinned by robust demand in China and a weaker U.S. dollar. *CHINA DEMAND: Solid demand in China has opened the' arbitrage window' for copper imports, traders said. Premiums for copper held in China bonded zones have climbed by $9 this week to $74, the highest in more than two months..

  • BEIJING, Oct 12- President Xi Jinping of China is expected to place trusted allies in the Communist Party's apex of decision-making, the Politburo Standing Committee, during a reshuffle next week, according to multiple Chinese sources and foreign diplomats. A key measure of Xi's power will be how many of his allies are installed on the Standing Committee at the...

  • SHANGHAI, Oct 12- The top Chinese steelmaking city of Tangshan has ordered mills to cut output a month earlier than expected to meet tough 2017 air quality targets, according to a notice released by the municipal government and reviewed by Reuters. Steel enterprises in Tangshan, located in heavily polluted Hebei province, must cut sintering output by 50 percent...

  • SHANGHAI, Oct 12- The top Chinese steelmaking city of Tangshan has ordered mills to cut output a month earlier than expected to meet tough 2017 air quality targets, according to a notice released by the municipal government and reviewed by Reuters. Steel enterprises in Tangshan, located in heavily polluted Hebei province, must cut sintering output by 50 percent...

  • SHANGHAI, Oct 12- China's yuan eased against the U.S. dollar on Thursday amid by heavier corporate demand for the greenback, traders said. Prior to the market opening on Thursday, the People's Bank of China lifted its official yuan midpoint for a third straight day to 6.5808 per dollar, the strongest level since Sept. 20. The trader expected the yuan to remain...

  • MELBOURNE, Oct 12- MMG Ltd, the international mining unit of state-owned China Minmetals Corp, has become China's preferred developer of overseas projects and is looking at acquisitions beyond its core strengths of copper and zinc, MMG's chief executive said. China's government is supporting moves overseas by state-owned industries with a keen focus on...

  • SHANGHAI/ BEIJING, Oct 11- German luxury automaker BMW is looking to form a joint venture with Great Wall Motor in China, which could focus on electric vehicles, according to two sources familiar with the matter on Wednesday. BMW's China sales grew 11.3 percent last year. BMW is trying to stay ahead of third-place Daimler's Mercedes-Benz, which recorded 26.6...

  • *Great Wall's HK shares surge as much as 19 pct. SHANGHAI/ BEIJING, Oct 11- German luxury automaker BMW is looking to form a joint venture with Great Wall Motor, a source familiar with the matter said, sending shares in the Chinese automaker up by nearly a fifth on Wednesday. A venture with Great Wall would be BMW's second in China, the world's largest auto market.

  • *Great Wall's HK shares surge as much as 19 pct. SHANGHAI/ BEIJING, Oct 11- German luxury automaker BMW is looking to form a joint venture with Great Wall Motor, a source familiar with the matter said, sending shares in the Chinese automaker up by nearly a fifth on Wednesday. A venture with Great Wall would be BMW's second in China, the world's largest auto market.

  • Foreign automakers have announced a raft of electric vehicle investments in China, which wants electric and hybrid cars to make up at least a fifth of the country's auto sales by 2025 and plans to loosen joint venture regulations. Tesla, Ford Motor Co, Daimler AG, and General Motors are among firms that have already announced plans for making electric vehicles in...

  • SHANGHAI, Oct 11- Offshore institutions increased their holdings of Chinese bonds for a seventh consecutive month in September, indicating resilient overseas demand for the securities despite a weakening yuan. Holdings of all forms of Chinese bonds held by offshore investors and cleared by China Central Depository and Clearing Co rose by 38.7 billion yuan...

  • Oct 11- President Xi Jinping of China will oversee the country's most significant political meeting in five years when he opens the 19th Communist Party Congress in Beijing on Oct. 18 and attempts to tighten his grip on power. -The party held its first Congress in 1921 at secret meetings in and around Shanghai. -The seventh Congress convened at the tail end of the...

  • Oct 11- China's ruling Communist Party opens its 19th Congress on Oct. 18, with President Xi Jinping expected to further tighten his grip on power. Here is how the Congress works and some pointers on what is at stake. -The five-yearly Congress elects about 370 full and alternate members of the party's elite Central Committee in a session lasting about one week,...

  • LONDON, Oct 10- Copper prices reached their highest level in four weeks on Tuesday as speculators kept buying in response to expectations of potential shortages in China. China announced plans in July and August to curb waste imports, including scrap metal, but it was unclear how severe the restrictions would be on copper. It is one of the top LME performers this...