No. 342, Nov 19(2)

Scandal hits Sinopec and PetroChina
From Nation, page 9
Sinopec and PetroChina’s subsidiary companies were involved in Guangdong's biggest money laundering investigation in June. Allegations stem from a deal with a Hong Kong Company which bought the oil with Hong Kong dollars instead of yuan, despite a ban on mainland companies accepting foreign currency for products and services. The investigation is pending, and likely consequences are still unknown.
Original article: [Chinese]

Town Poltical Reform in Jiang Su Province
From Nation, page 10
A town in Jiangsu province previously administered by Guanyun county is being given its own right to govern. This represents a new trend by which counties are giving towns more authority and room to choose the best model for economic development.
Original article: [Chinese]

Gold Rush in Winter
From Nation, page 11
Ever-climbing gold prices are providing a strong incentive for professional gold speculators, who unlike previous years, are not putting down their panning tools to return home early this winter at the onset of freezing waters. Tibet, Qinghai, and Xinjiang are also known for their gold, but this year people have gone as far as Yunnan, Sichuan, and even Myanmar and Vietnam. Domestic gold prices have risen 20 percent in the last two months. Our report focuses on six camps in Longhui county, Hebei province, which are staunchly holding out.
Original article: [Chinese]

Multiple SMI to Collectively Issue Bonds
Money & Investment, page 19
The government has recently allowed 20 firms from the small and medium industry (SMI) in Shenzhen to collectively issue bonds. The companies will gather under one banner to raise up to one billion yuan through bonds at a fixed interest rate of 5.7 percent that matured in five years. The green light comes from National Development and Reform Commission, and is expected to boost SMI’s credibility in issuing low risk bonds.
Original article: [Chinese]