No. 342, Nov 19(3)

Cash “Shortage” in Shenzhen
Money and Investment, page 20
Over-the-counter cash withdrawals have been limited at Shenzhen banks in the first two weeks of November to curb illegal cash transactions and excessive circulation. This comes after a meeting involving all commercial banks in the city on November 2nd, when bankers discussed the phenomenon of unusually large amounts of withdrawals at short intervals, and speculated on their links to money laundering, smuggling, and other underworld activities. Subsequently, the banks implemented limited withdrawal policy whereby a maximum of 30,000 yuan per day and 50,000 yuan per week is allowed for personal account holders. As for business accounts, withdrawals are limited to 100,000 yuan per day, 200,000 yuan per week, and 500,000 yuan per month.
Original article: [Chinese]
 
Mining Deals in Africa
Corporation, page 27
Private Chinese mining companies, which face stiff regulation and tilted competition against state-owned enterprises domestically, have turned their eyes on Africa in recent years. The latest bid for mining rights in 13 spots in Tanzania by a 61-year-old businessman, Duan YongJi, has become a point of interest as Duan is initiating a move for Chinese firms to jointly invest in Africa. Previously, Chinese firms were mainly confined to small-scale mining, as the industry requires high initial capital. Gold, nickel, and copper are among the minerals explored in Africa.
Original article: [Chinese]

Urgent Need to Rectify Financial Imbalance
Observer, page 41
The measured appreciation of the undervalued yuan is a major contributing factor to excess liquidity, a bubbling stock market, an overheated property market, and an imbalance trade surplus, argues Cheng Zhiwu of Yale University. The Chinese government’s policy in allowing its currency to appreciate in stages by 5 percent per annum over the next three years have driven up market expectation, says Cheng, adding that such expectations of a more valuable yuan in the near future have prevented savings with  negative gains and an outflow of investment.
Original article: [Chinese]