Record trade surplus
(China Daily)
Updated: 2006-07-17 11:33 Railway company to go public
Daqin Railway Co Ltd is set to become
the first rail company to be listed on the Chinese mainland bourse after gaining
approval for a domestic initial public offering in Shanghai last
week.
China Securities Regulatory Commission announced the decision on
its website last week. It means the railway company could raise at least 14
billion yuan (US$1.75 billion).
"Becoming listed makes Daqin Railway a
pioneer," says Ou Guoli, a professor at Beijing Jiaotong
University.
Stretching from Datong in Shanxi Province to Qinghuangdao in
Hebei Province, the company's railway line mainly transports coal in North
China.
Record trade surplus
China reported a record monthly trade
surplus of US$14.5 billion in June and experts expect the trend to
continue.
The country's exports reached US$81.3 billion last month, up
23.3 per cent year-on-year, while imports stood at US$66.8 billion, up 18.9 per
cent from the previous year, according to statistics published by the Ministry
of Commerce. The trade surplus continued to widen from US$13 billion in
May.
The trade surplus in the first half of this year totalled US$61.5
billion, reflecting a sharp increase of 54.9 per cent from a year ago.
(For more biz stories, please visit Industry Updates)
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