US urged to ease security reviews on acquisitions

    THE U.S. Government ought to treat Chinese companies on an equal footing when conducting security reviews of deals made by Chinese firms, a vice commerce minister said.

    Security reviews shouldn’t hinder cooperation between Chinese and U.S. firms, Zhang Xiangchen said in a statement released on the ministry’s website yesterday. Zhang, who is also a deputy representative for international trade, reiterated China’s stance against trade protectionism and called on the United States to ease restrictions on exports to China. In March, U.S. lawmakers launched a public broadside against China National Chemical Corp.’s planned takeover of seed giant Syngenta AG, saying the deal could pose risks to the security of America’s food supply.

    Yuan fixing regime ‘more stable and transparent’

    CHINA’S yuan fixing regime is becoming more stable and transparent, a central bank vice governor said yesterday, while reiterating that internationalization of the currency will be market-oriented.

    Yi Gang also said that the central bank is prepared for a possible U.S. Federal Reserve rate hike. The People’s Bank of China has good and effective communication with the Federal Reserve, he added.

    Shanghai Yiqian buys Germany’s Hahn airport

    SHANGHAI Yiqian Trading Co. will buy Hahn airport in Germany to secure a base for food exports as well as passengers heading to and from Asia, a deal highlighting China’s increasing appetite for overseas infrastructure assets.

    The planned purchase of an 82.5 percent stake in Hahn from Germany’s federal state owners for a low double-digit million euro amount shows China’s aim of recreating Silk Road trade links between Europe and Asia that have already led to some big-ticket transactions. In April, China Everbright Group bought into Albania’s international airport while China Cosco Shipping Corp. purchased a 67 percent stake in Greece’s Piraeus port.

    Jack Ma wants Ant Financial to list in HK

    ALIBABA Group Holding Ltd. executive chairman Jack Ma “very much hopes” that the e-commerce firm’s affiliate Ant Financial Services Group will list in Hong Kong, a spokeswoman for the online finance company quoted him as saying.

    Ma, who is Ant Financial’s controlling shareholder, made the comments at an event in Macao on Monday. A listing for Ant Financial has been long expected.