RIDING THE WIND On August 8, China kicks off construction on its first 10 gigawatt-level wind power base in Jiuquan of northwestern Gansu Province, as part of efforts to promote clean energies (NIU JIANJIANG)

Anti-Monopoly Drive

The National Development and Reform Commission (NDRC), China's top economic planner, unveiled on August 12 a draft regulation on monopoly prices.

The regulation prohibits monopolies on market prices and power abuse by government agencies to eliminate or limit competition. Those who violate the regulation would be punished according to stipulations in the country's Anti-Monopoly Law, said the NDRC.

The regulation aims to prevent monopolistic prices and to endorse fair competition so as to safeguard the interests of consumers and the public, it added.

The NDRC is soliciting public opinion for the regulation until September 6.

Banking Abroad

The Bank of China Ltd. (BOC), one of China's "big four" state-owned commercial banks, has recently opened a branch in Muar, in south Malaysia's Johor State. This move marks an expansion of the Chinese bank in the southeast Asian country since it resumed operations in Kuala Lumpur in December 2000.

It is an effort by the bank to better serve as a financial bridge between China and Malaysia, said Zheng Jingbo, Executive President of BOC (Malaysia) Bhd., at the opening ceremony.

BOC had owned five branches in the country, but all of them suspended operation in 1959 due to historical reasons, Zheng said.

Flying High

Xi'an Aircraft International Corp. (XAIC) and Goodrich Corp. of the United States signed an agreement on August 12 to set up two joint ventures that will be engaged in manufacturing landing gear and nacelle (engine compartment) components, China Daily reported.

Both joint ventures will be located in Yanliang National Aviation Hi-tech Industrial Base in Xi'an, capital of Shaanxi Province, and will be owned equally by Goodrich and XAIC. Financial details of the deal remain unclear.

The tie-up will bring together XAIC's expertise in high-quality aerospace manufacturing and Goodrich's leading market positions on landing gear for large commercial aircraft, said Meng Xiangkai, President of XAIC, in a statement.

3G Campaign

China Unicom Ltd., the country's second largest wireless carrier, has inked an agreement with Carrefour S.A. to offer third-generation (3G) services at the French retailer's outlets in Guangdong Province.

Analysts believe China Unicom intends to take advantage of the large customer turnover at the Carrefour supermarkets to expand its user base. Carrefour, on the other hand, hopes the new services will boost its mobile phone sales, they said.

The carrier has already set up service booths at 16 Carrefour stores across the province, including eight in Shenzhen.

"A Carrefour store receives more than 10,000 shoppers every day on average, which will greatly boost our 3G brand," said Zhou Youmeng, Deputy General Manager of China Unicom's Guangdong Branch, in a statement.

Coal Deal

The Shandong Province-based Yanzhou Coal Mining Co. Ltd. is in talks to buy Australian coal miner Felix Resources Ltd., in a cash bid worth about AU$3.7 billion ($3.1 billion), Shanghai Daily reported, citing sources close to the deal.

The Chinese mining company is offering a price of nearly AU$20 per share, representing a premium to Felix shares that traded around AU$16, said the source.

Shares of Felix were suspended from trading in Australia on August 10, as were shares of Yanzhou listed in Hong Kong.