China pledges $10 billion in loans to Africa
Premier Wen Jiabao announced yesterday that Beijing would double the initial commitment of loans to African nations and phase out most tariffs to expedite trade with the continent's poorer countries. The infusion of $10 billion in loans over a span of three years is China's aim to boost a relationship that is now economically booming. China will also implement measures to remove tariffs on 95% of products from the least-developed African countries with which it has diplomatic ties. He said the initial plan shall be to start next year by lifting tariffs on 60% of products.

China Merchants Securities sets IPO price range
China Merchants Securities, a leading domestic brokerage firm, announced today that it has set its A-share IPO price range between 26 and 31 yuan. The Guangdong-based broker is scheduled to issue no more than 358.5 million shares. The IPO price translates into a price to earnings (P/E) ratio between 47.18 and 56.26 times.

Credit to rise about 20% in 2010
According to a report issued yesterday by the Bank of Communications, the nation's fifth largest commercial lender, China's bank loans will expand by 20 to 22 percent in 2010 to fuel economic recovery. The new yuan credit balance issued by commercial lenders is expected to reach 8 to 9 trillion yuan next year.

The 3rd China Patent Week to be held this week
The 3rd China Patent Week, focusing on building and implementing a national intellectual property strategy, will be held in Guangzhou from the 12th to the 16th of November. The event will feature a number of activities including an exhibition of patented technologies and products, as well as several forums on Intellectual Property Rights (IPR). This year, the event hopes to underline its status as China's leading platform for patent development. Sessions will also be taking place in 31 provinces and cities across China.