China global leader in production of mobile phones
Beijing: China has become the world's largest mobile phone producer by churning out 240 million units in 2004 and the figure is expected to increase to over 500 million this year. Out of this total production, about 140 million units were exported, making it the highest number in the world.

Industry experts predict that the production capacity would rise this year, as new producers begin manufacture.

According to economists with forty more firms to begin manufacture, the total annual production amount may exceed 500 million units, which will be more than eighty per cent of the world's total consumption.

Since last year, trans-national companies have been hiking and converting their Chinese branches into global supply plants.
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Chinese commercial banks to step into securities investment
Beijing: With the China Banking Regulatory Commission (CBRC), the People's Bank of China (PBOC) and the China Securities Regulatory Commission (CSRC) issuing a long-expected regulation jointly, China has for the first time permitted some pilot commercial banks to launch fund management companies, as part of its efforts to bolster its capital markets.

The move will enable commercial banks to step into the securities investment business, considered a major breakthrough in the segregated regulatory scheme of the banking, securities and insurance sectors, `China Daily' reported. Prior to this, domestic banks could only sell funds or provide custody services, but were not permitted to be involved in investment sales, it noted.
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