Wind-power capacity will grow at an average 46.4 per cent compound annual rate by 2010 on the mainland, with newly installed capacity increasing 74 per cent this year, according to a research report by BNP Paribas.

The mainland plans to raise installed wind-power capacity as a proportion of total power capacity to 2 per cent by 2020 from 0.1 per cent.

Separately, Ka Shui International Holdings, a Guangdong-based manufacturer of metal die-casting components, plans to raise up to HK$300 million in an initial public offering of 220 million shares at a range of HK$1.10 to HK$1.35 each. The retail offering to retail investors will start today.

Some HK$142 million, about 50 per cent of the proceeds, would be used to buy additional die-casting machinery and equipment for the company's existing production plant and for a new plant in Daya Bay, chairman Lee Yuen-fat said.

Meanwhile, RREEF China Commercial Trust, a real estate investment trust, yesterday received a chilly response from Hong Kong retail investors yesterday to its US$300 million initial public offering.

'In the wake of terrible IPO debut performances of previous reits, investors are very cautious about this offering,' said Cherrie Yan Cheuk-yi, a corporate finance officer at Phillip Securities. 'The property trust is also lacking any future growth catalyst as it relies on only a single commercial property, Beijing Gateway Plaza.'