March 9, 2017 / 1:50 AM / a year ago

China Stocks-Factors to watch on Thursday


* HK->Shanghai Connect daily quota used -2 pct, Shanghai->HK daily quota used +12 pct

* HK->Shenzhen Connect daily quota used +4 pct, Shenzhen->HK daily quota used +4 pct

* SSEC -0.1 pct, CSI300 -0.2 pct, HSI +0.4 pct

* CNY official close 6.9135 per dollar, 0 pct vs US$ last 90 days

* FTSE China A50 flat, BNY Mellon ADR China Select Index +1.0 pct

SHANGHAI, March 9 (Reuters) - Following is a list of recent corporate and policy announcements, as well as other news that might affect Chinese financial markets. Policy, government, sector news:

* China posts first monthly trade deficit in 3 years as imports soar

* China will maintain stability in its yuan currency while allowing more two-way fluctuation to reflect changes in supply and demand, the operator of its foreign exchange trading platform said on Wednesday.

* China, fearing a rapid escalation of tension on the Korean peninsula, called on North Korea on Wednesday to stop its nuclear and missile tests and for South Korea and the United States to stop joint military drills and seek talks instead.

* China will curb speculative land purchases as it looks to fend off risks in the property market, land minister Jiang Daming said on Wednesday.

* China’s banks to see slower asset growth this year-Zheshang chairman

* A senior Chinese official has proposed cutting the highest level of personal income tax to 25 percent from the current 45 percent, the state-run People’s Daily said on Thursday.

* China’s second-largest corn-producing region has asked Beijing for more financial aid as farmers struggle with low prices and bulging stocks a year after the government ditched its decade-long buying policy and efforts to boost demand stumble. Company moves:


* Huadong Medicine’s 2016 profit up 32 pct, unit in production expansion project

* AVIC Real Estate’s 2016 net profit down 59.8 pct

* Shandong Mining Machinery returns to net profit in 2016

* China Resources Sanjiu’s 2016 net profit down 4.1 pct y/y

* Xiamen King Long Motor’s Feb vehicles sales fall 48.15 pct y/y

Equity changes/IPOs

* Online part of Shenzhen Magic Design’s IPO 4,453.1 times oversubscribed in online tranche

* Dongguan Chitwing Technology’s IPO 3,064 times oversubscribed in online tranche

* Baoding Tianwei Baobian Electric cuts private placement size to 1.45 bln yuan from 1.6 bln yuan

* Zhejiang Founder Motor’s controlling shareholder to cut stake in the company M&A

* Qingdao investment firm raises 5 pct stake in Hangzhou Tian-Mu-Shan Pharmaceutical Enterprise

* Zhejiang Jiahua Energy Chemical plans to buy stake in new materials firm Other moves (spin-offs, divestitures, deals)

* China Railway Construction’s unit wins river regulation related project

* Spring Airlines Co Ltd : - Deutsche Bank cuts price target to 44.50 yuan from 44.60 yuan

* China Southern Airlines Co Ltd: - Deutsche Bank raises price target to 4.60 yuan from 4.10 yuan

* TCL gets regulatory approval to issue up to 8 bln yuan worth of bonds (Compiled by Samuel Shen; Editing by Kim Coghill)

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