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Anshan Iron and Steel Group Corporation (Ansteel) and Pangang Iron &Steel Group Co. have formally effectuated their long-awaited merger in Beijing Thursday, marking a shrink-to-three between the four State-owned iron and steel enterprises. Based on the announcement, the newly established Ansteel will not be directly regulated by the State-owned Assets Supervision and Administration Commission (SASAC). [...]

Wuhan in Hubei Province has been approved by Chinese authorities to build a country-level coal reserve base at the Wuhan Newport along the Yangtze River. Zhong Ping Energy Chemical Group and the Wuhan government will jointly invest 800 billion yuan ($118.02 billion) on the construction project. The base will relieve the urgent and excessive demand of [...]

“China should strengthen its reform of the yuan’s exchange rate,” Hu Xiaolian, a deputy governor at the People’s Bank of China (PBC), said in a statement on its website Wednesday. “A fixed yuan exchange rate has caused excess capital in China’s financial system that may stoke inflation, making it difficult to manage the economy,” Hu [...]