SHANGHAI, Aug 24 - Toyota Motor Corp will recall688,314 Camry and other sedans made at its two China jointventures from Tuesday, its largest recall in the country, to fixa faulty electric switch to the window.

The recall included 384,736 Camry models made by Toyota'sjoint venture in south China with Guangzhou Auto between May 15,2006 and Dec. 31, 2008, China's quality watchdog said on itswebsite.

A total of 22,767 Yaris compact cars made by the same venturebetween May 15 and Dec. 31 of last year will also be recalled,the statement said.

The list also included 35,523 Vios cars made at its jointventure with FAW between Feb. 18 and Dec. 25 of 2008 and 245,288Corolla models made at the venture from May 17, 2007 to Dec. 25of 2008, it said.

A spokesman for Toyota's China operations said he hadreceived no reports of casualties or accidents linked with thedefect.

Guangzhou Auto is the parent of Hong Kong-listed DenwayMotors.

Nov. 21, 2008 (China Knowledge) - China Pacific Insurance (Group) Co<601601>, the country's third largest life insurer by premium, said the unaudited premium income from its two units amounted to RMB 82.9 billion in the first ten months of this year, according to its filing with the Shanghai Stock Exchange

During the Jan.-Oct. period, premium income of China Pacific Life Insurance totaled RMB 58.9 billion while that of China Property Insurance reached RMB 24 billion, the Shanghai-based insurer said in the statement without providing any comparative figures.

China Pacific Insurance, in which U.S. private equity firm Carlyle Group holds 17.32% stake, is the country's second largest property insurance company, after the Beijing headquartered PICC Property and Casualty Co<2328>, which raked in RMB 88.386 billion in premium income during the Jan.-Oct. period.

Its biggest rival in life insurance business, China life Insurance Co Ltd<601628><2628><LFC>, the country's top life insurer, announced its unaudited premium income hit RMB 264.8 billion in the first ten months this year.

HONG KONG -- Just one week after Geely said it was interested in taking over Volvo, the aggressive Shanghai-based auto manufacturer seemed to be distracted by another target: Opel.

Dongxing

Major Economic Indicators (2007)

Land Area

549 km²

Population

116,000

GDP

RMB 2.3 billion (US$306 million), 37.7% up

GDP Composition

Primary Industry (Agriculture)

21.2%

Secondary Industry

25.1%

(Industry&Construction)

Tertiary Industry (Service)

53.7%

GDP Per Capita

RMB 19,827 (US$2636)

Unemployment Rate

N.A

Fixed Asset Investment

RMB 1.7 billion,111.5% up

Utilized FDI

N.A

Total Import & Export

US$4.1 billion, 22.1% up

By Chen Yang

Insider trading investigations are being ramped-up after Liu Xinhua, vice chairman of the China Securities Regulatory Commission (CSRC), vowed last month to increase supervision of the country's fund management companies, securities companies and listed companies.

In the latest case, an employee in the proprietary trading desk of a Nanjing-based securities company suspected of involvement in insider trading at the Jiangsu Gaochun Ceramics company was detained for investigation by the local public security authorities, the daily Securities Times newspaper reported Wednesday. The newspaper operates under the oversight of the CSRC, and listed Chinese companies often use it to release information.

The newspaper did not identify the employee or the securities firm in question. Securities firms' proprietary trading desks typically trade for direct gain instead of commission.

Jiangsu Gaochun Ceramics suspended trading in April while it considered merging with another firm. When the company announced its restructuring plan in May and resumed trading, Jiangsu Gaochun's stock rose the maximum allowed amount for 10 consecutive days. When trading was suspended April 20, the stock closed at 8.13 yuan ($1.19) per share. It opened at 17.42 yuan ($2.55) per share May 22 when trading resumed and had risen to 21.07 yuan ($3.09) by June 8.

Wang Guifu, secretary of the chairman of the board, said the company conducted an internal investigation afterward and did not find any problems. "The investigation will not have any negative influence on the company," he told the Global Times Wednesday.

The CSRC is not investigating Jiangsu Gaochun Ceramics, Wang added. The Global Times sought confirmation with the CSRC Wednesday but the agency could not be reached in time for this story.

However, Jiangsu Gaochun Ceramics' stock price dropped 2.39 percent to 25.77 yuan ($3.77) Wednesday.

Other recent actions by the CSRC include confirmation November 5 that the regulator had launched investigations into 14 Shenzhen-based fund management companies. One of the investigations has found that three fund managers from Invesco Great Wall and Great Wall Fund Management were involved in insider trading.

The three, Tu Qiang of Invesco Great Wall and Han Gang and Liu Hai of Great Wall Fund Management, face jail terms of up to 10 years and fines as high as five times their illicit gains if they are convicted. They would be the first to receive such punishments under the amended Criminal Law enacted in February.

"The investigation is about fund managers' personal behaviors, and the company is not affected," Invesco Great Wall and Great Wall Fund Management announced on their websites November 12.

Zhang Yuanzhong, a lawyer with the Beijing Wentian Law Firm, said the company itself should bear responsibility for the insider trading, not just the individuals involved.

"The regulator should implement stricter policies," he said.

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Dec. 16, 2008 (China Knowledge) - China is very likely to ease the restrictions on second-home loans as early as the end of this year, the Shanghai Securities News reported on Monday.

The proposal on radically abolish the restriction made by China Real Estate Association (CREA) has been submitted to the State Council, waiting for its approval, according to an unnamed source with the CREA.

Gu Yunchang, vice-chairman of the China Real Estate and Residential Buildings Institute, said the loan restriction of second-house purchasing constraints people's normal need of enhancing housing condition, so the government should put more emphasis on the development of commercial housing.

China's central bank has lowered the down payment threshold from 30% to 20% and allowed domestic commercial lenders to provide favorable policies to support first-home purchase and those who buy self-use housing for improving living conditions.

However, the applicable conditions of "self-use housing for improving living conditions" have not been specified by the central bank. The report cited Industry insiders as saying that the specific regulations are expected to be released by the end of this year.

SHANGHAI, March 4 - Royal Bank of Scotland said onWednesday it was considering selling most of its bankingbusinesses in China, part of plans to exit Asia following itsill-fated purchase of ABN AMRO.

RBS, which has already sold its entire stake in strategicpartner Bank of China, plans to sell ABN AMRO China's retail andcommercial banking businesses, but will keep ABN's globaloperations, RBS said in an e-mailed statement.

The British bank will also keep its two offices in China,which it considers a core market.

RBS said it will ensure customer services won't be affectedbefore the businesses, which include its Van Gogh-brandedbusiness, are sold and transferred to their new owner.

RBS, which reported the biggest annual loss in Britishhistory for 2008 and received a capital injection from the UKgovernment, is selling its Asian banking units to raise cash.

The lender boosted its presence in Asia through itsacquisition of ABN AMRO in 2007, a deal blamed in part for RBS'financial woes.

The Dutch government nationalised ABN AMRO last October aspart of a rescue of Belgian-Dutch group Fortis, which bought ABNin a consortium with RBS and Spain's Santander for 70 billioneuros ($87.5 billion)

RBS has hired Morgan Stanley to explore the potential Asianasset sale, people with direct knowledge of the matter toldReuters last month.

In January, RBS said it sold its 4.26 percent stake in Bankof China for $2.34 billion, a clear sign the beleaguered Britishbank was scaling back on its committment to China.

Local media reported that RBS' business cooperation in areassuch as private banking had also ended.

RBS said on Wednesday, however, that "China has been definedas a core market by the strategic review," so the bank will keepABN AMRO's entire Global Banking and Markets and GlobalTransaction Services operations in China. RBS' offices inShanghai and Beijing will remain open, it said. ($1=.8001 Euro)

Dec. 26, 2008 (China Knowledge) - Chinese stocks opened flat on Friday, with the benchmark Shanghai Composite Index gaining 0.03% from the previous closing.

The benchmark Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, opened slightly higher at 1852.91, up 0.49 points from Thursday.

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange opened 0.65% or 43.80 points lower at 6741.24 points.

Mar. 13, 2009 (China Knowledge) - Toshiba Mitsubishi-Electric Industrial Systems (Beijing) Corp (Toshiba Mitsubishi Beijing) said on Monday that it plans to set up a JV in Shanghai with a local company.

The company said that the JV will have a registered capital of RMB 10 million and that it will hold an 80% stake. The remainder will be held by its Shanghai partner.

Toshiba Mitsubishi Beijing is setting up the JV will to sell high-voltage frequency conversion equipment under its brand, in a bid to gain a larger market share in the Chinese market.

Toshiba Mitsubishi Beijing is a wholly owned subsidiary of Toshiba Mitsubishi-Electric Industrial Systems Corp.

Shanghai, June 23 (Gasgoo.com) Guangzhou Toyota, a joint venture between Guangzhou Auto and Toyota Motor, has confirmed its plan to produce Toyota's 'business-class' Previa MPV in 2012, 163.com reported today.

The Toyota Previa MPV model to be made in China will be code-named "085X" (Previa) and it will be produced on the new "MC-M" platform, which is also to make the next-generation Toyota Highlander SUV in 2014.

After the Chinese production of Toyota Highlander was started last month, the next focus of Guangzhou Toyota is shifting to the 'business-class' Previa, to save this Toyota MPV model from oblivion.

Nov. 11, 2008 (China Knowledge) - BOC Aviation, the wholly-owned aircraft-leasing unit of Bank of China (BOC)<601988><3988>, said it planned to set aside over US$1 billion to buy planes next year in an effort to expand its fleet despite of the global financial crisis and economic recession.

Robert Martin, BOC Aviation chief executive, said the current situation, in which some airlines were unable to finance or had been seized by banks, would be the best time for the company to buy assets, adding the company may also consider acquisitions.

Headquartered in Singapore, BOC Aviation previously operated as Singapore Aircraft Leasing Enterprise (SALE). It was acquired by BOC in December 2006 and changed its name to BOC Aviation in July 2007.

The aircraft leasing company operates representative offices in Europe and the US, and has 83 modern aircraft flying with over 30 airlines worldwide, with 73 aircraft on order for delivery through 2013.

Shanghai, August 11 (Gasgoo.com) Shanghai authorities yesterday began to deal with applications from car owners who trade in their outdated or heavily polluting vehicles for the national subsidies, Shanghai Daily reported.

The local car owner to replace any of these cars will get vehicle subsidies offered by the central government, ranging from 3,000 yuan ($439) to 6,000 yuan, said Shanghai Commission of Commerce.

Car owners who trade in their used minivans, medium- and small-sized trucks and other mid-sized passenger cars for new ones from June 1 to May 31 next year will get the subsidies.

Apr. 15, 2009 (China Knowledge) - LG Electronics Inc, the world's third biggest TV and mobile phone maker, plans to introduce 25 new 3G mobile phones to China in 2009, including touch-screen models and phones with high-speed Internet access and high-quality 5 megapixel or 8-megapixel cameras, Shanghai Daily reported on Wednesday.

The company said it aims to launch a total of 60 new phone models in China this year, over 40% of which will be 3G models.

Industry analysts said the new models are expected to help the company to gain more market share in the world's biggest handset market.

The company said in February that it would invest RMB 1 billion in China this year to expand its mobile phone businesses in the country, especially distribution channels and brand promotion.

By Zuo Maohong

Merger and acquisition (M&A) activity went up slightly in the second quarter mainly because stimulus measures spurred business confidence while government policies encouraged consolidation in industries such as steel and financial services.

After hitting a two-year low in the first quarter, reported domestic transaction volume jumped by 32 percent to 811 deals in the second quarter, according to a report released yesterday by PricewaterhouseCoopers (PwC) China.

Despite the rebound, foreign-backed activity remains depressed.

Benjamin Ye, a Shanghai-based PwC transactions partner, said foreign-involved transactions dropped from 284 in the second half of 2008 to 188 in the first half of this year.

Domestic companies, which are less impacted by the financial downturn, are showing a growing interest in outbound investment.

The PwC report showed outbound acquisition number increased to 65 in the first six months, compared to 59 in the same period last year. The total deal value stood at $14.7 billion, more than three times as high as that in the first half of 2008.

Most outbound investment was related to acquisitions in traditional sectors such as oil, mining and metals. The strong rebound in deal value was attributed to Sinopec’s $8.9 billion offer for Switzerland’s Addax Petroleum, the report said.

“Besides the energy and oil sectors that have drawn continuous attention, investors have also begun to show interest in non-traditional sectors such as manufacturing,” Wang Xiaogang, a transactions partner based in PwC’s Beijing branch, told reporters yesterday at a news conference.

He cited Shanghai Electric’s printing and packaging division, which announced last month a plan to acquire shares in the US-based Goss International that would make the company the second largest shareholder in the US printing magnate.

Looking forward to the rest of the year, the report said M&A activity will recover to 2008 levels as China’s economy continues to improve and more IPOs come to the A-share market.

The report predicts that overseas investment would continue to grow, citing several landmark deals in the pipeline outside of the familiar resources sectors.

However, foreign investment is expected to remain weak, as recovery in Western economies will lag behind China, the report said.

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江琴琴回到家，她父母亲还在看电视。

“爸，妈，什么电视这么好看，这么晚了居然还在看？”

江琴琴的爸妈平时很少看电视，吃过晚饭后到街上散散步就早早睡觉的。

“琴琴，我们哪是在看什么电视，我们是在等你回来呢。”江琴琴母亲说道。

“等我回来？你们不是知道我今天陪客商下乡吗？能不能回来我自己都不知道，有什么好等的。”江琴琴说着话就进了房间，准备换衣服洗澡。

江琴琴父亲关了电视，说道：“琴琴，你过来。”

“爸，我要洗澡呢，有什么事等我洗完澡再说好吗？”

“先说事，再洗澡。”

江琴琴出来见父母亲一脸地严肃，感觉好像有什么事情要发生，心中有些不安。

“坐下吧。”江琴琴母亲说道。

江琴琴就坐下，等着父亲说事。

“琴琴，招商办主任我看你还是别做了吧，我跟你妈商量了，支持你到外面去闯一闯。”

父母亲态度的变化让江琴琴觉得奇怪，好端端地为什么要她辞掉招商办主任呢？还支持她去外面闯，这也太反常了。

“爸，当初我想放弃参加比赛，是你叫我继续参加下去的，你现在叫我什么成绩都没干出来就辞职，不等于就是半途而废，当了逃兵么？”

“叫你辞职也是为你好。”江琴琴父亲说道。

“怎么会是为我好，现在我突然辞职，那些原先就对我上任有偏见的人说不定会怎么想呢，说我犯错误了？说我没能力没水平实在干不下去了？”

“你以为你现在当招商办主任就没人说你了？你到外面去听听，别人都是怎么说你的？”

这段时间江琴琴天天在忙招商引资的事，外面有什么闲言碎语她还真的没听到。“爸，妈，你们都听到什么了？”

“你跟她说。”江琴琴父亲对江琴琴母亲说道。

“琴琴，今天我跟你爸去菜场买菜，碰到几个熟人，他们说你跟那个来考察的老板关系不一般。”江琴琴妈妈说道。

“不一般是什么意思？”

“你说什么意思？说一个女人跟一个男人关系不一般会是什么意思你不明白？”江琴琴父亲猛吸了一口烟，说道。

“我跟他又没什么，他只不过是我联系的一个客商而已，有什么一般不一般的。”江琴琴说道。

“我问你，昨天去迎接徐总的市领导干部有多少？”

“十多位吧。”江琴琴不明白父亲为什么问这个。

“徐总跟每一个领导干部都握了手吧，是不是和你握手的时间最长？为什么？难道你的官职比刘书记、欧阳市长他们都大？”

江琴琴明白了，这事又是有人故意散布出去的。

“是，他是跟我握的手时间最长，可这跟我有什么关系啊，是他握着不放的，他这人就是这样，见到年轻漂亮的姑娘就喜欢半天不松手。他是客商，我总不能不顾人家的面子使劲把手抽出来吧？”江琴琴觉得很委屈，这些人凭什么要这样跟她作对啊，“爸，妈，你们还听到些什么？”

“有人说你昨天半夜还在徐总房间，有这事吗？”江琴琴父亲问道。

这事不用问一定是危高强乱嚼舌根说出去的，江琴琴现在除了满腹委屈，还有说不出的气愤。

“昨天跟市领导陪徐总吃完饭后我也是想早点回家的，可徐总要我陪他去看看夜景，作为招商办主任，陪客商走走看看那是职责所在，我总不能说不去吧，如果连这点要求都满足不了，人家还会愿来投资么？”

“那你陪他看完夜景就早点回家嘛，为什么还在人家房间呆到那么晚？你也不想想，一个女招商办主任深更半夜呆在客商的房间里，别人会说什么？说你色诱，说你献身。”

我不知就里。

“龙胆泻肝丸，呵呵，其中的一味药是关木通，毒性极大，连服五六次，百分百会得肾衰竭……”

“啊！”听至此，我吓了一大跳。“不会吧，这不明摆着害人嘛。”

“做领导的，就应该要有大智慧！不毒不狠，难成大器啊。”劭干生感叹。

“可是，这陆副市长现在已经到一个私人企业当总经理了，干吗还要惦记那个司机呢？”我不解。

“知道什么叫权钱交易吗？呵呵。”劭干生确实不拿我当外人，仔细给我解释，“陆市长现在当总经理的地产公司，真正的老板是个土豪，每年给他开800多万的年薪。为什么，就是为了报答从前陆市长对他生意方面的照顾……陆市长仕途不是很顺利，他知道自己难以在官场升迁，这才到私人大企业做打工皇帝。但是，人做过领导，肯定就会有仇人。他听说从前银行的对手们现在妒忌他的高薪，又有人拿那次车祸的事情要搞事，这才想起那个司机。不让司机闭嘴，日后说不定会出事。”

原来如此！

我使劲点头。“看那个司机真可怜，对陆市长千恩万谢的，以为是帮助他治病的大恩人。他们夫妇不知道的是，其实你是陆市长的‘地狱使者’啊。呵呵。”

劭干生脸上的表情让人难以捉摸。他沉默了一会，低声说：

“人在江湖，出来混，总是要还的。”

西北地区的城市气候很干燥。

从终日湿热闷憋的南方乍一进入凉爽的环境，人的精神为之一振。

公司组织几个人到北方内陆城市搞相关金融公司调研工作，很自然地就包括我、付龙以及田红生等人。

这次旅行，开始很愉快。特别是田红生，非常开放，一路上大讲黄色笑话和抠女经，惹得其他几个平素呆板的电脑技术员也笑逐颜开。

晚上空闲下来，田红生、付龙和我三个人暗地里约好，背着那三个电脑部的同事出去寻开心。搞电脑的人总是呆头呆脑地有些与正常人格格不入的感觉，他们的智商大都很高，由于终日沉迷于屏幕网络，对现实生活缺乏真实感，让人觉得他们乏味、麻木，有时甚至不近人情。于是，我们就甩下他们在宾馆里，自顾自出去游玩。

西北的女人化妆很浓，眼影和胭脂很勇敢地往脸上抹，即使在大白天，一张脸也画得晚妆一样浓，这使得我们这些在南方城市住惯的人，很难区分良家妇女与非良家妇女。尤其是在酒吧或迪斯科舞厅，有些年轻女人是正经的公司职员，下班后三两结伴来此消遣，可恰恰是她们过分夸张的装束让人对她们的身份大起猜疑。

我们三个人从一个酒吧到另一个酒吧，四处逡巡，喝杯啤酒，满世界寻找“猎物”。

大概晚饭刚过，时间尚早，很少有职业的欢场女郎出现，即使有，我们也不敢贸然上前搭腔。

内地的女人很泼辣，有的看上去眼神凶凶，不似南方娱乐场，所有的女孩都是那样令人放心的取悦于人的笑脸。

“瞧，对面两个小姐一直瞟咱们……”付龙边说边挺直腰板，从嘴里喷出一个烟圈，同时挤眉弄眼故作*。

对面两个浓妆艳抹的说不清年龄的女人相视一笑，低下头嘀咕着。两个人的衣服颜色很深，首饰也不夸张。凭我的感觉，她们并不似酒吧陪酒的小姐。

田红生半张着嘴，这位四十好几的仁兄可爱之处，还在于他看女人时的那种不加掩饰的痴态，只能用“垂涎欲滴”四字来形容。他的这一“失态”，很像在日本黄色表演厅紧挨表演台边坐着的那一圈男人的嘴脸。我不知道当初他在名牌大学讲课时，面对讲台下面漂亮女学生，是否这样失态。也许，到南方以后，他才逐渐暴露出自己一直压抑的天性。

“……站起来了，她们站起来……”付龙一口喝干了自己杯中的啤酒，“……埋单，埋单，快埋单！”他冲田红生讲。

田红生很厚道，走了好几个酒吧，都是他掏钱埋单。他掏出两张百元的票子，压在啤酒杯下面。