China Economic Review - Alpha en copyright 2014 China steel production data may mask greater overcapacity <p>China may have&nbsp;been underestimating steel production in recent years, with last year's crude steel output at 822 million tons--over 40 million tons more than official figures, <a href="" target="_blank">Reuters</a> reported, citing its own calculations and estimates from consultancy MEPS. Thu, 01 Jan 1970 08:00:00 CST Haitong Securities plans private Hong Kong placement to raise $3.9bn <p>Haitong Securities (6837.HKG, 600837.SHA) plans to sell 1.92 billion additional Hong Kong-listed shares at HK$15.62 each in a private placement, <a href="" target="_blank">Bloomberg</a> reported, citing a statement to the Shanghai stock exchange. The company, China's second-biggest brokerage by market value, aims to raise HK$29.9 billion (US$3.9 billion) through the placement, which comes as a stock-market boom in China boosts the country's brokerages. Thu, 01 Jan 1970 08:00:00 CST Xi calls on Macau to end dependence on gambling industry <p>President Xi Jinping urged Macau to move away from its reliance on the gambling industry, which has suffered&nbsp;from&nbsp;Xi's ongoing anti-corruption campaign, <a href="" target="_blank">Bloomberg</a> reported. Thu, 01 Jan 1970 08:00:00 CST Foreign minister says China willing to help Russia if necessary <p>China is willing to help Russia if necessitated by the latter's currency issues,&nbsp;<a href="" target="_blank"><em>South China Morning Post</em></a> reported, citing a statement from Foreign Minister Wang Yi to mainland-linked Phoenix Television over the weekend. The station did not quote Wang as mentioning any specific measures regarding the rouble, which has fallen about 45% against the dollar this year. Thu, 01 Jan 1970 08:00:00 CST New high-speed sleeper train tickets no match for a hard-seat home <p>New high-speed sleeper trips received a lukewarm reception on their debut, with only half of tickets for the first journey from Beijing to Shenzhen booked as of Sunday, <em><a href="" target="_blank">South China Morning Post</a></em> reported, citing railway authorities' official website. That contrasted poorly with two slower trains on the same day with sleeper cars, with standing room only remaining for both normal-speed trips&nbsp;from Beijing to Guangzhou. Thu, 01 Jan 1970 08:00:00 CST