China will provide a "reasonable" amount of credit in the fourth quarter to spur activity and speed up construction of key projects, the cabinet said. "We will make pre-emptive adjustments to total social financing and keep market liquidity and new yuan lending at reasonable levels," the State Council said in an online statement after a meeting chaired by Premier Wen Jiabao on Wednesday. Reuters
Combined profits of Chinese state-owned firms fell 11.4 per cent in the first nine months from a year earlier, easing from an annual fall of 12.8 per cent in the January-August period, the Ministry of Finance said. It said total profits last month rose 2.8 per cent from August. Reuters
Haitong Asset Management (HK), a unit of Hong Kong-listed Haitong International Securities, has obtained qualified foreign institutional investor (QFII) status - a licence to buy Chinese stocks - from the securities regulator and has applied for an investment quota of US$300 million. Ray Chan