Top stories of the day-China Stock Market-Oct. 10
BEIJING, Oct 09, 2013 (Xinhua via COMTEX) --
1. A spate of initiatives adopted by the Chinese government has
aroused the country's enthusiasm for reform, with many people
expecting the country's ruling party to kick off more intensive and
tougher reforms at a key summit in November.
Comment: The news will boost A-share market confidence in the
2.The long-anticipated plans on promoting mergers and acquisitions
among Chinese milk powder producers are expected to come out soon,
according to a report by the Economic Information Daily on Thursday
citing reliable sources as saying.
Under the pending measures, China will foster three to five large
infant formula companies with annual sales exceeding 5 billion yuan
via M&A before the end of 2018.
All Chinese infant formula firms are also required to update their
production lines and operate in full compliance with latest good
manufacturing practice (GMP) before the end of 2015, according to the
Comment: The news will cast positive impact on large-scale milk
powder producers and relevant stocks.
3.The online payment affiliate of dominant Chinese e-commerce
company Alibaba Group is to acquire 51 percent stake in Tianhong
Asset Management for RMB1.18 bln and is taking control of Tianhong
Asset Management Co to accelerate its push into online financial
Comment: Internet finance A-share stocks are likely spurred over
Alibaba's takeover of Tianhong. (Edited by Gaoyuan,
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