CSRC releases new rules
The China Securities Regulatory Commission released new rules to the companies which issue stocks to the public. According to the rules, the Commission will pay more attention to the certified public accountants' opinions and conduct stricter supervision over matters involved in non-standard and unreserved auditing comments. (People's Daily 26, December)

Foreign capital permitted in audio-visual product publication
The Chinese Ministry of Culture and the Ministry of Foreign Trade and Economic Cooperation agreed the Chinese foreign cooperative enterprises for distribution of audio-visual products, permitting them to set up distribution enterprises of audio-visual products in China. However, the foreign capital ratio is banned to exceed 49%. (People's Daily, 26 December)

State sector profits forecast down in 2001
China estimates state-sector profits fell to RMB 230 billion in 2001. China's state-owned and state-controlled enterprises reported profits of RMB 249.2 billion in 2000, following a three-year government effort to cut waste at state firms. (Dow Jones Newswire, 26 December)

Bush grants permanent normal trade status to China
President George Bush granted China permanent normal trade status, ending a quarter-century policy of using access to U.S. markets as an annual enticement to the communist giant to expand political and economic freedoms. (WSJ.com, 27 December)

Foreign trade to buck slump
China's imports and exports are expected to increase by 7% on last year and reach a record high of USD 500 billion. Exports are expected to increase by at least 5%. Imports will rise by 8%. (China Daily, 28 December)

Foreign law firms allowed to offer consulting services
Foreign law firms were given the green light to court clients in China on limited issues following the Nation's entry to the WTO. A new State Council regulation permits lawyers to offer consulting services on legislation of the country or region where the lawyers are licensed, and on international conventions and practices (China Daily, 28 December)

Foreign travel agencies to land in China
Foreign travel agencies will be allowed to control stakes in joint-venture companies from January 1, 2003 and wholly own companies by the end of 2005. The moves reflect China's hasty move to uphold agreements made when it formally joined the WTO. (China Daily, 28 December)

Minister on use of foreign capital in 2002
China will continue to improve the work in using foreign capital next year, with high-tech and infrastructure sectors listed on top of the agenda for attracting overseas investors. Besides, China will actively implement the "Go Out" strategy next year, a measure to spur Chinese enterprises to invest in or contract projects overseas. (China Daily, 28 December)

New York Life, Haier unit form RMB 200 million venture
New York Life Insurance has agreed to form a RMB 200 million life insurance joint venture with leading mainland home appliance maker Haier Group in its first foray into the China market. (SCMP, 28 December)

Facts & figures: China's exports to Switzerland
Following are the latest facts and figures about China's major export commodities to Switzerland (in million U.S. dollars) in the first eleven months of 2001, provided by the General Administration of Customs:

(Xinhua, 1 January) Keep in mind that these figures do not necessarily correspond with the figures published by the Swiss Government.

Morgan Stanley bullish on China market outlook
Morgan Stanley predicted that the year 2002 will see merger and acquisition activities play an increasing role in China, with listing of more local companies. The company estimated that although the year 2001 was a quite year for domestic and international IPOs out of China, some 15 billion dollars was raised domestically and just 2 billion dollars internationally, compared with 25 billion and 22 billion dollars in 2000 for the two items respectively. (Xinhua, 3 January)

Facts & figures: China's economic figures in recent 5 years
Following are the statistics on China's Economy in recent five years, announced by the China National Bureau of Statistics (units: billion USD) (Xinhua, 3 January)