The International Monetary Fund should include the yuan next year in its Special Drawing Rights basket of currencies, the China Daily reported today, citing Nobel Prize winning economist Robert Mundell.
China Cinda Asset Management Co. plans to list shares on a domestic exchange, China Daily reported, citing President Tian Guoli. The company aims to attract financial firms as strategic investors, the English- language newspaper cited Tian as saying. Cinda, a manager of distressed assets, was turned into a stock-holding company on July 16 after a reorganization, according to the report. The company is wholly owned by the finance ministry, the paper said.