Business Digest, December 18, 2012

PUBLISHED : Tuesday, 18 December, 2012, 12:00am
UPDATED : Tuesday, 18 December, 2012, 2:33am

Investment overseas jumps by a quarter

China's outbound direct investment from non-financial firms in the first 11 months of the year totalled US$62.5 billion, up 25 per cent from a year earlier, the Commerce Ministry said - well above the growth of 14 per cent for all of last year. Beijing wants firms to invest abroad to help rebalance the economy and acquire key natural resources and technologies. Reuters


Import duties on nearly 800 products to fall

The mainland will cut import duties on a raft of consumer products, manufacturing equipment and environment-friendly products next year, the Ministry of Finance said, as Beijing moves to boost domestic demand. From January 1, more than 780 products will enjoy lower import duties than previous most-favoured-nation tariff rates. Reuters


Norilsk Nickel names Potanin chief executive

Norilsk Nickel's board appointed billionaire Vladimir Potanin chief executive as part of an agreement to resolve a feud with shareholder Rusal, controlled by rival Oleg Deripaska, over control of the world's largest nickel producer. Bloomberg