CHINA

Pirate attacks on ships worldwide hit a seven year high in 2010 and a record number of crew were taken hostage, a maritime watchdog body said, despite increased patrolling of the seas.

China's key stock index closed up 0.1 percent, supported by a key technical level and better-than-expected earnings from two banks.

China is committed to reforming its exchange rate policy, the Foreign Ministry said on Tuesday, after senior U.S. senators pressed for Congress to get tough with China over manipulating its currency.

China faces growing challenges in managing its foreign exchange reserves -- the world's largest at $2.85 trillion, the country's foreign exchange regulator said in remarks published on Tuesday.

China's increases in bank reserve requirement ratios (RRR) have become a key part of its arsenal in managing massive fund flows and investors should not be concerned that such policy tightening will choke growth.

Chinese President Hu Jintao on Tuesday flew to the United States for a state visit buffeted before he even lands by senior U.S. senators demanding tough action against China for manipulating its currency.

Toyota Motors Corp is developing new type of electric motor which does not require rare earth metals to cut its dependence on rare earth metals and lower costs.

China said on Tuesday its rare earth exports rose 14.5 per cent in the Jan-Nov period of 2010 as prices more than doubled, with most of the shipments going to Japan, Europe and the United States.

World’s number one mobile phone maker, Nokia will end bundling of free music downloads with cellphones in 27 countries but will continue to sell phones free music downloads in China, India, Indonesia, Brazil, Turkey and South Africa.

Aileen WangSHANGHAI/BEIJING - China's central bank has reportedly cut its 2011 lending target for banks by 10 percent from last year in a bid to slow down free-wheeling lending and tame inflation.

China's central bank has cut its 2011 lending target for banks by 10 percent from last year, the official Securities Journal reported Tuesday, citing unidentified banking sources.

Adriana Resources reached a joint venture agreement with a unit of China's Wuhan Iron and Steel Co Ltd on Monday in the latest in a series of deals in Canada's iron mining sector.

The euro was on shaky ground on Tuesday with no imminent decision in sight on how to beef up the euro zone's rescue fund, while Asian tech shares outperformed despite news that Apple Inc CEO Steve Jobs is taking medical leave.

China has lent more money to developing nations than the World Bank in the past two years, the Financial Times said on Tuesday, underlining Beijing's ambitions to increase its global influence.

China's central bank has cut its 2011 lending target for banks by 10 percent from last year, the official Securities Journal reported on Tuesday, citing unidentified banking sources.

China's securities regulator will begin a trial programme that for the first time allows local fund houses to raise money offshore for investment in the domestic financial market, two sources said.

China has emerged as a world leader in the manufacture of solar photovoltaic technology, and could soon be the largest supplier of wind turbines, thanks in part to state laws and directives that reward renewable energy equipment companies with cash and tax perks.

China's central bank has devised calibrated reserve ratios for different banks to tighten curbs on bank lending and tame quickening inflation, Chinese media said on Monday.

China's securities regulator will begin a trial programme that allows local fund houses to raise money offshore for investment in the domestic financial market, two sources said on Monday.

MasterCard Worldwide's (MA.N) partnership with China UnionPay, the country's lone bank card transaction processor, will help it become a player in China's 3 trillion yuan ($455 billion) personal consumption market in five to 10 years, the head of MasterCard in China said on Monday.

South Korea's Hana Financial Group Inc (086790.KS) has formed a strategic tie-up with China Merchants Bank Co Ltd (600036.SS), Hana said on Tuesday.