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BEIJING (AP) â€" China has cut the number of permits for rare earths mining in a new move to tighten controls over the exotic minerals needed to manufacture mobile phones, electric cars and other high-tech goods. The Ministry of Land and Resources decided to cut the number of mining permits by 40 percent from 113 to 67, China Central Television said Wednesday. The brief report gave no indication how that was expected to affect the amount of rare earths produced. The announcement comes amid tensions between Beijing and Tokyo over control of a group of uninhabited islands in the East China Sea. Beijing temporarily suspended rare earths shipments to Japanese buyers the last time tensions over the islands flared in 2010 but there was no indication whether Japan might be affected by the latest change. Beijing has alarmed global manufacturers by restricting production and exports while it tries to build up its own processing industry to capture profits that flow ...

By Elisabeth Behrmann - 2012-09-19T05:51:27Z BHP Billiton Ltd. (BHP) , the world’s biggest mining company, said the pace of iron ore demand from China , the biggest importer, has slowed by more than half. “We’re already seeing the beginning of the end of the first phase of economic development in China,” Alberto Calderon, the Melbourne-based company’s chief commercial officer and manager of its aluminum and nickel business , said today at a conference in Canberra. “The pace of demand of iron ore from China has slowed down by more than half.” Australia , the world’s biggest iron ore exporter, yesterday cut its price forecasts for this and next year on concern that a slowing economy in China will curb demand growth. BHP last month delayed an estimated $68 billion of projects, including an iron ore port expansion, as commodity prices declined. “What we have seen in the past ten years is not only a function of massive demand coming from China but the indu...

China's future leader appeared energetic in his meeting Wednesday with the U.S. defense secretary, his first appearance with a foreign dignitary since dropping from public view and raising a flurry of questions about his health and turbulence in the succession process. Vice President Xi Jinping and Defense Secretary Leon Panetta held more than an hour of discussions focusing on U.S.-China military-to-military relations, Pentagon press secretary George Little told reporters. While Penetta's visit comes at a sensitive time for China and its relations with the U.S. and regional neighbors, his meeting with Xi was closely scrutinized for any clues into the vice presidents prolonged absence, which ended Saturday when he appeared at a low-key event for national science promotion day. Footage of the meeting shot by state broadcaster CCTV showed a robust looking Xi shaking Penetta's hand, posing for photos and smiling during their conversation. The report made no menti...

China's future leader appeared energetic in his meeting Wednesday with the U.S. defense secretary, his first appearance with a foreign dignitary since dropping from public view and raising a flurry of questions about his health and turbulence in the succession process. Vice President Xi Jinping and Defense Secretary Leon Panetta held more than an hour of discussions focusing on U.S.-China military-to-military relations, Pentagon press secretary George Little told reporters. While Penetta's visit comes at a sensitive time for China and its relations with the U.S. and regional neighbors, his meeting with Xi was closely scrutinized for any clues into the vice presidents prolonged absence, which ended Saturday when he appeared at a low-key event for national science promotion day. Footage of the meeting shot by state broadcaster CCTV showed a robust looking Xi shaking Penetta's hand, posing for photos and smiling during their conversation. The report made no menti...

Chinese stocks rose for the first time in three days as speculation the government will take steps to boost the equity market overshadowed concern inflation will hamper the central bank’s ability to ease monetary policy. Pacific Securities Co. (601099) climbed 1.5 percent, pacing an advance by brokerages, after the Shanghai Securities News said regulators will push for market reforms. Agricultural Bank of China Ltd., the nation’s third-largest lender, led declines by banks as swap traders reduced expectations for the scale of interest-rate cuts. “Some people may take the chance to bargain hunt after recent declines but any gains would be short-lived,” said Wei Wei, an analyst at West China Securities Co. in Shanghai. “Investors are still concerned about the economy as it looks unlikely to improve anytime soon. It also looks less likely that the central bank will have aggressive interest-rate cuts.” The Shanghai Composite Index (SHCOMP) gained 0.2 percent to 2,063.07...

Wed Sep 19, 2012 3:52am EDT * Higher China steel prices behind recovery in iron ore * Steel mills restocking ahead of China holiday * BHP Billiton: Iron ore prices unlikely to repeat previous highs (Adds Bank of Japan, updates rebar price) By Manolo Serapio Jr SINGAPORE, Sept 19 (Reuters) - Shanghai rebar futures hit one-month highs on Wednesday on signs of a pickup in steel demand in top market China, prompting mills to restock iron ore and supporting prices of the steelmaking ingredient that fell by a quarter in August. Iron ore prices rebounded from their lowest level in almost three years earlier this month after Beijing's approval of more than $150 billion in projects to build highways, ports and airport runways boosted the outlook for steel demand. The most briskly traded rebar contract for January delivery on the Shanghai Futures Exchange closed up 1.6 percent at the session's high of 3,638 y...

Chinese Vice President Xi Jinping (R) meets with U.S. Secretary of Defense Leon Panetta at the Great Hall of the People in Beijing, capital of China, Sept. 19, 2012. (Xinhua/Yao Dawei) BEIJING, Sept. 19 (Xinhua) -- Chinese Vice President Xi Jinping on Wednesday said Japan 's "purchase" of the Diaoyu Islands was a farce and urged Japan to stop any behaviors that infringe upon China's sovereignty. "Japan should rein in its behavior and stop any words and acts that undermine China's sovereignty and territorial integrity," Xi said in a meeting with visiting U.S. Defense Secretary Leon Panetta. Xi's comments followed the Japanese government's announcement of its decision to "purchase" part of the Diaoyu Islands on Sept. 10. He said Japan's "purchase" openly questioned the legal effects of the Cairo Declaration and the Potsdam Proclamation and intensified the neighbors' territorial disputes. Related: Hu...

Chinese stocks rose for the first time in three days as speculation the government will take steps to boost the equity market overshadowed concern inflation will hamper the central bank’s ability to ease monetary policy. Pacific Securities Co. (601099) climbed 1.5 percent, pacing an advance by brokerages, after the Shanghai Securities News said regulators will push for market reforms. Agricultural Bank of China Ltd., the nation’s third-largest lender, led declines by banks as swap traders reduced expectations for the scale of interest-rate cuts. “Some people may take the chance to bargain hunt after recent declines but any gains would be short-lived,” said Wei Wei, an analyst at West China Securities Co. in Shanghai. “Investors are still concerned about the economy as it looks unlikely to improve anytime soon. It also looks less likely that the central bank will have aggressive interest-rate cuts.” The Shanghai Composite Index (SHCOMP) gained 0.2 percent to 2,063.07...

Link this Share this (Updates to close) * HSI climbs 1.2 pct, breaks resistance after two days * H-shares +1.7 pct, CSI300 +0.5 pct, Shanghai Comp +0.4 pct * China banks lead charge, some commods strong too * China property weak on Longfor's fundraising plans By Clement... Email Print Wed Sep 19, 2012 2:36pm IST (Updates to close) * HSI climbs 1.2 pct, breaks resistance after two days * H-shares +1.7 pct, CSI300 +0.5 pct, Shanghai Comp +0.4 pct * China banks lead charge, some commods strong too * China property weak on Longfor's fundraising plans By Clement Tan HONG KONG, Sept 19 (Reuters) - Hong Kong shares rose 1.2 percent, helped by Chinese banks that lifted the Hang Seng Index above a chart level that had capped gains since a stimulus-rally in the previous two weeks. Gains for banking stocks tracked an Asia-wide rally for the sector on Wednesday after the Bank of Japan (BOJ) became the latest majo...

By Weiyi Lim - 2012-09-19T01:57:24Z Most Chinese stocks rose as speculation the government will take steps to boost the equity market overshadowed concern inflation will hamper the central bank’s ability to ease monetary policy. Pacific Securities Co. (601099) climbed 1.6 percent, pacing an advance by brokerages, after the Shanghai Securities News said regulators will push for market reforms. Agricultural Bank of China Ltd. led declines by banks as swap traders reduced expectations for the scale of interest-rate cuts. “Some people may take the chance to bargain hunt after recent declines but any gains would be short-lived,” said Wei Wei, an analyst at West China Securities Co. in Shanghai. “Investors are still concerned about the economy as it looks unlikely to improve anytime soon. It also looks less likely that the central bank will have aggressive interest-rate cuts.” More than two stocks rose for each one that fell on the Shanghai Composite Index (SHCO...

Foreign direct investment in China fell in August for the ninth time in 10 months and the government indicated a diplomatic spat with Japan will hurt trade, adding to restraints on economic growth. Spending declined 1.4 percent from a year earlier to $8.33 billion, the ministry said in Beijing today. Shen Danyang, a ministry spokesman, said at a briefing that the dispute over islands claimed by Japan and China will “definitely” have a negative impact on trade, after protesters attacked Japanese cars and shops across China. China’s economy may grow the least in 22 years this year as Europe’s debt crisis and slowing U.S. expansion crimp exports, and a property crackdown damps domestic demand. Further weakness may prompt the government to build on interest-rate cuts in June and July and accelerated investment approvals, with Premier Wen Jiabao saying last week that the nation has room for fiscal and monetary measures. “The smaller inflow of foreign investments will exace...

By Gopal Ratnam - 2012-09-19T08:56:31Z China must move beyond the “deep wounds” caused by Japan during World War II in addressing present-day issues such as the dispute over contested islands in the East China Sea , U.S. Defense Secretary Leon Panetta said. Panetta, speaking to military cadets in Beijing today after meeting with Vice President Xi Jinping, also said that the U.S. had urged its Japanese allies to resolve territorial issues with China peacefully. “I understand the deep wounds that China suffered during World War II and nobody understands those wounds better than the U.S., because the U.S. also suffered deep wounds” during the conflict, Panetta said. “At the same time we can’t live in the past, we must live in the future.” The standoff over control of the islands, known as Diaoyu in Chinese and Senkaku in Japanese, has sparked the worst bilateral crisis since 2005, endangering a trade relationship that has tripled in the past decade to more ...

1 of 17. An anti-Japan protester chants slogans beside a defaced Japanese flag, with Chinese characters reading ''Blood can be shed'' ,in the southern Chinese city of Guangzhou September 18, 2012. Credit: Reuters/James Pomfret By Ben Blanchard and Antoni Slodkowski BEIJING/TOKYO | Tue Sep 18, 2012 10:50pm EDT BEIJING/TOKYO (Reuters) - Anti-Japan protests reignited across China on Tuesday, the sensitive anniversary marking Tokyo's occupation of its giant neighbor, escalating a maritime dispute which has forced major Japanese firms to suspend business there. Relations between Asia's two biggest economies have faltered badly, with emotions running high on the streets and also out at sea where two Japanese activists landed on an island at the center of the dispute. China reacted swiftly to the news of the landing, which risked inflaming a crisis that already ranks as China's worst outbreak of anti...

Link this Share this BEIJING (Reuters) - China said it has been made a victim of U.S. electoral politics after Washington launched an international trade case alleging that Beijing has been unfairly subsidizing automobile and auto parts exports. U.S. President Barack... Email Print U.S. President Barack Obama boards Air Force One at Joint Base Andrews as he departs Washington September 18, 2012. Obama is travelling to New York City for campaign events. Credit: Reuters/Kevin Lamarque BEIJING | Wed Sep 19, 2012 11:15am IST BEIJING (Reuters) - China said it has been made a victim of U.S. electoral politics after Washington launched an international trade case alleging that Beijing has been unfairly subsidizing automobile and auto parts exports. U.S. President Barack Obama announced the World Trade Organization (WTO) case against China over allegedly illegal subsidies for automobiles and auto parts during an election campaig...

1 of 17. An anti-Japan protester chants slogans beside a defaced Japanese flag, with Chinese characters reading ''Blood can be shed'' ,in the southern Chinese city of Guangzhou September 18, 2012. Credit: Reuters/James Pomfret By Ben Blanchard and Antoni Slodkowski BEIJING/TOKYO | Tue Sep 18, 2012 10:50pm EDT BEIJING/TOKYO (Reuters) - Anti-Japan protests reignited across China on Tuesday, the sensitive anniversary marking Tokyo's occupation of its giant neighbor, escalating a maritime dispute which has forced major Japanese firms to suspend business there. Relations between Asia's two biggest economies have faltered badly, with emotions running high on the streets and also out at sea where two Japanese activists landed on an island at the center of the dispute. China reacted swiftly to the news of the landing, which risked inflaming a crisis that already ranks as China's worst outbreak of anti...