ABB, the world’s top power and automation technology company, yesterday said it will maintain its annual growth rate in China at 20 percent by offering solutions for green development and adding another 100 million yuan in investment.

“China has become the largest market for ABB by sales and will continue to play a very important role in our future development,” Brice PG Koch, chairman of ABB China Ltd, said at ABB’s China Centennial Ceremony yesterday.

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China’s total volume of foreign trade is expected to exceed 2.1 trillion U.S. dollars, up 20 percent over last year, according to a report issued by the Ministry of Commerce during the ongoing 102nd China Import and Export Commodities Fair.

The export volume will reach 1.2 trillion U.S. dollars and the import volume will be 950 billion U.S. dollars, with a trade surplus of 250 billion.

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The stock market rebounded for a second day yesterday, with analysts predicting it will climb to the pre-correction levels of a week ago.

The benchmark Shanghai Composite Index yesterday rose 69.72 points, or 1.21 percent, to close at 5843.11 points, with losing stocks outweighing gainers by 628 to 249. The indicator surged to 5906.69 points before it closed slightly down. Turnover on the Shanghai exchange totaled 102 billion yuan, down 7 percent from the previous day.

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The yuan broke through the psychologically important mark of 7.5 against the US dollar yesterday, a post-revaluation high, but analysts said it does not indicate a stronger momentum in yuan appreciation.

The People’s Bank of China set the central parity rate of the yuan at 7.4938 against the dollar yesterday morning. The previous historical high since China de-pegged the yuan from the dollar on July 21, 2005 was 7.5006, touched on October 8.

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GUANGZHOU (Fund China) - China AMC Fund management companies in the recently issued notice to the formal launch of the new electronic services on the invoice.

Customers ordered electronic bills, not only through designated monthly e-mail free of charge to receive electronic bills, but also to sell the site for the past six months on electronic billing. With traditional paper billing services for comparison, electronic billing services on the frequency of a higher and more convenient customer inquiries and preserve their own history investment record, on a timely understanding of the fund transaction records and fund holdings. Moreover, as reducing the use of paper, electronic billing more conducive to the protection of forest resources, is a more environmentally friendly modes of services. China AMC Fund electronic services for the introduction of bills by the pursuit of convenience, pay attention to environmental protection fund clients a high degree of recognition, a large number of customers has been enthusiastic to order electronic billing services.

GUANGZHOU (Fund China) - The China Securities Regulatory Commission said on Hong Kong and the Mainland is listed company equity swap to stimulate the Hang Seng Index opened higher this morning, 714 points, opened at 30,013 points, the first time exceeded 30,000 points; H-share index opened higher 981 points at 20,517 points.

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GUANGZHOU (Fund China) - The hotel industry to compete for foreign investment in China has already accelerated the pace of the market.

October 10, the United States Carlson global hotel group (Asia-Pacific) that with the newly established private investment funds - Lotus Hotel Investment Fund formed strategic alliances, joint development of China and India hotel market. Expected total investment could reach 3 billion US dollars.

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Chinese share prices hit a new record on Monday with the benchmark Shanghai Composite Index closing above 6,000 points for the first time.

The index ended on the first day of the 17th party congress at 6030.09 points, up 126.83 points, or 2.15 percent.

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GUANGZHOU (Fund China) - Gui Minjie, vice chairman of the China Securities Regulatory Commission on the 11th at the “China and French Fund Industry Forum”, he said that six aspects of the China Securities Regulatory Commission will promote development of the fund market.

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China has withdrawn all of its 20.23 million dormant A-share stock accounts from the trading system by Monday to improve the operational efficiency, the China Securities Regulatory Commission (CSRC) has announced.

With the country’s stock market growing bullish, the number of registered stock accounts on the Shanghai and Shenzhen bourses have rocketed to 129 million by Monday. On Monday alone, 259,777 new accounts were added.

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