China eyes European assets -minister (Reuters)

BEIJING (Reuters) ? China's Commerce Minister plans to lead an investment delegation to Europe next year, in hopes that the crisis roiling the continent will open up some plum assets for acquisition.

China has been reluctant to publically commit to buying additional European bonds, despite European pleas for help in shoring up finances there, but could be much more interested in getting hard assets for its cash.

"Next year, we will continue to send a delegation for promoting trade and investment to the European countries," Chen Deming told a gathering of Chinese firms with overseas investments on Monday.

"Some European countries are facing a debt crisis and hope to convert their assets to cash and would like foreign capital to acquire their enterprises. We will be closely watching and pushing forward the progress."

His comments are in keeping with an editorial in the Financial Times this weekend by Lou Jiwei, the head of China Investment Corp (CIC), who wrote that China was keen to make equity investments in Western infrastructure, especially in Britain.

Chen warned that China may fight back if other countries use trade protectionism against it.

Chinese officials repeatedly emphasize the overseas deals that have fallen through because of political opposition; although far more Chinese purchases have cleared with few problems.

China's largest state-owned shipping firm COSCO (1919.HK) has already made a major investment into Greece's historic Piraeus port (OLPr.AT), as part of Greek divestment plans.

Broadly speaking, overseas investment by Chinese state-owned enterprises has so far been primarily geared toward resources purchases, while CIC has been criticised at home for taking equity stakes in Western financial institutions.

CIC was particularly interested in infrastructure projects where governments could offer lower taxes or discounted bank loans in return for investment, Lou wrote in the Financial Times.

China has been colder to pitches to buy more European nations' bonds without getting anything in return. A Spanish delegation was met with polite disinterest from Chinese officials earlier this month, sources said.

The visiting Spanish minister also tried to interest CIC in upcoming divestments of state holdings in savings banks known as cajas, in the national lottery company, airports and other infrastructure.

Commerce Minister Chen cautioned reporters that China itself faces risks of further economic slowdown in 2012.

Annual inflation in 2011 is likely to exceed 5.5 percent -- overshooting the government target of 4 percent -- and inflationary pressures will continue next year, Chen said.

(Reporting by Aileen Wang and Ken Wills; Writing by Lucy Hornby; Editing by Jacqueline Wong)

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/nm/20111128/bs_nm/us_china_economy_inflation

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Occupy LA deadline comes, many say they won't go (AP)

LOS ANGELES ? The protesters whose tents line the lawn of Los Angeles City Hall made it clear that they received the eviction notice issued by Mayor Antonio Villaraigosa. Whether they'll heed it is much less certain.

With hours left before the Monday at 12:01 a.m. deadline the mayor and the police chief gave for Occupy LA, very few of the occupiers were packing, and many were instead were making plans for what to do when they stay.

Some handed out signs Saturday mocked up to look like the city's notices to vacate, advertising a Monday morning "eviction block party."

Dozens attended a teach-in on resistance tactics, including how stay safe in the face of rubber bullets, tear gas canisters and pepper spray.

Police gave few specifics about what tactics they would use if protesters ignored the deadline.

Chief Charlie Beck said at Friday's news conference that officers would definitely not be sweeping through the camp and arresting everyone just after midnight.

In an interview with the Los Angeles Times published Sunday, Beck said that despite the lack of confrontations in the camp's two-month run, he's realistic about what might happen.

"I have no illusions that everybody is going to leave," Beck said. "We anticipate that we will have to make arrests."

But he added, "We certainly will not be the first ones to apply force."

Villaraigosa announced Friday that despite his sympathy for the protesters' cause, it was time for the camp of nearly 500 tents to leave for the sake of public health and safety.

The mayor said the movement is at a "crossroads," and it must "move from holding a particular patch of park to spreading the message of economic justice."

But occupiers showed no signs of giving up the patch of park too easily.

Will Picard, who sat Saturday in a tent amid his artwork with a "notice of eviction" sign posted outside, said the main organizers and most occupiers he knows intend to stay.

"Their plan is to resist the closure of this encampment and if that means getting arrested so be it," Picard said. "I think they just want to make the police tear it down rather than tear it down themselves."

But some agreed with the mayor that the protest had run its course.

"I'm going," said Luke Hagerman, who sat looking sad and resigned in the tent he's stayed in for a month. "I wish we could have got more done."

Villaraigosa expressed pride that Los Angeles has lacked the tension, confrontation and violence seen at similar protests in other cities. But that peace was likely to get its biggest test on Monday.

Ue Daniels, 21, said as an artist he's "as nonviolent as they come" but he planned on resisting removal any way he could.

"I think we'll comply as far as putting our tents on the sidewalk maybe, that's something that's been going around."

But as far as leaving altogether?

"They would probably have to drag me away," he said.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20111127/ap_on_re_us/us_occupy_los_angeles

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