Briefly

Rules for related-party transactions unveiled

The People's Bank of China, the central bank, unveiled a set of rules on Thursday to better regulate related-party transactions of financial holding companies as part of its efforts to strengthen financial risk prevention. The implementation of the new rule will help avoid improper transfer of interest, risk contagion and regulatory arbitrage, conducive to strengthening the country's macroprudential policy framework, the PBOC said in a statement on Thursday.

Sinohydro to operate power units in Zimbabwe

A new 300-megawatt unit at Zimbabwe's biggest coal-fired power plant will start operating in March, Deputy Minister of Energy and Power Development Magna Mudyiwa said on Wednesday. The unit is part of two generators making up the Hwange Thermal Power Station Unit 7 and 8 Expansion Project being undertaken by Chinese firm Sinohydro under a facility from the Export-Import Bank of China.

China Daily - Xinhua