China's Northern International Trust & Investment Co (NITIC) has received regulatory approval to buy a 51 pct stake in ABN Amro's fund management joint venture from Xiangcai Securities. As part of a restructuring, ABN Amro's asset management arm is also expected to raise its stake in the venture to 49 pct. (Securities Times)

China should buy less U.S. debt while stepping up imports from the United States to help reduce the bilateral trade gap, a senior official said in remarks seen Monday, ahead of President Hu Jintao's visit to Washington. (Shenzhen Daily)

Foreign direct investment in Shanghai reached US$2 billion in the first quarter, growing 2.9 percent from a year earlier, Oriental Morning Post reported today. Contracted foreign investment reached US$3.4 billion in the period, up 9.9 percent. (Shanghai Daily)

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