Adjustments in the proposal include enriching delisting criteria, simplifying delisting procedures and creating a risk warning board and a board for equity sales before delisting to protect investors.

The BMW Masters, to be staged from October 25-28, represents the third European Tour event this year in mainland China.

The event joins last week’s China Open in Tianjin on the calendar, and will be played the week before the November 1-4 WGC-Champions tournament in Shenzhen.

The mainland’s second-largest commercial lender aims to sell 1.2 billion H shares, or at least 15 percent of the enlarged total shares.

The A-share portion – involving a similar number of shares – is under review by mainland regulators.

“The fall in Shanghai copper today was mostly due to LME copper’s fall last week. The news over the weekend including those involving Spain’s debts, China’s slowing power output and the widening of the yuan have caused investors to reevaluate last week’s China GDP numbers,” said Orient Futures derivatives director Andy Du.

The Hang Seng Index shed 0.2 percent, while the China Enterprises Index of the top mainland listings in Hong Kong rose 0.2 percent as bourse turnover neared a 2-1/2-month low.— Chinese markets shut for a three-day public holidayMainland Chinese markets are shut for a three-day public holiday and will reopen on Thursday, while markets in Hong Kong will be closed on Wednesday and Friday.

The $668 million sale was made via a block trade to unnamed institutional investors, the New York-based bank said in a statement Monday.

Citigroup and the state-owned Shanghai plan a new “strategic arrangement” for their cooperation that will involve using Citi’s worldwide networks and credit lines to support SPDB’s global expansion, it said.

Last month, Citi’s Chinese subsidiary received regulatory approval to become the first U.S.-based bank to issue its own credit cards in China. The business will include both consumer and commercial cards, and is expected to launch before the end of the year.

Until now Citi was restricted to issuing cards through a joint venture with SPDB. That business will be taken over by the Chinese bank.

China’s growing middle class is a prime target for lenders, and the market is gradually opening after years of lobbying by foreign governments and financial institutions for a loosening of restrictions.

Citi also recently got approval to set up a joint-venture securities firm in China with Orient Securities Company Ltd. The venture, Citi Orient Securities Co Ltd., will be based in Shanghai, and will focus on investment banking in the Chinese domestic market.

The former Manchester City and Arsenal striker’s debut was eagerly anticipated Saturday after he signed a two-year contract worth 270,000 euros ($350,000) a week for the Chinese Super League side.

However, the French player’s name was absent from the team sheet for Shenhua’s opening clash against regional rivals Jiangsu Sainty of Nanjing.

Anelka’s place was taken by Australian striker Joel Griffiths. The former Beijing Guoan hitman proved his worth by scoring the equaliser in the 60th minute with a close range header, with the match ending 1-1.

In Hong Kong, investors were also spooked by fears that more companies could take advantage of this year’s rally to raise funds, putting further pressure on stock prices.The Hang Seng Index ended down 1.4 percent while the China Enterprises Index of the top Chinese listings in Hong Kong slipped 2.3 percent.

The Shanghai Composite Index was down 0.6 percent in the highest turnover in four sessions.

American International Group (AIG) announced a $6 billion stake sale in its Asia subsidiary, AIA Group Ltd at a 6-7 percent discount, sparking fears that any other placements could be priced at a bigger discount than AIA, Asia’s third-largest insurer and seen as a better quality name.”It is precisely because of the possibility of deleveraging by foreign financial institutions that we prefer not to set an aggressive target level for the Hang Seng Index this year,” said Alan Lam, Julius Baer’s Greater China equity analyst.

“Major shareholders could be looking to offload holdings from last year’s IPOs when their lockup periods expire, but prospective large-scale IPO activities from China may absorb market liquidity in a big extent,” he added.While trading was suspended in AIA shares on Monday, its Chinese peers were particularly hard hit.

China Life Insurance and Ping An Insurance lost 4.4 percent and 3 percent, respectively.

Adding to weakness in Chinese financial stocks were banks, the biggest drags on benchmark indices.

China’s biggest lender, Industrial and Commercial Bank of China (ICBC) lost 1.1 percent in Shanghai and 2.7 percent in Hong Kong.Speaking at the annual session of China’s National People’s Congress (NPC), Premier Wen Jiabao cut the country’s 2012 growth target to 7.5 percent from the longstanding 8 percent annual goal as Beijing looks to wean the economy off reliance on external demand and foreign capital.

“Investors are taking profits after no big surprises for the NPC’s work report.

The slower GDP growth target may imply less or later than expected policy easing in China,” Julius Baer’s Lam said.Hong Kong shares also weakened after the Hong Kong dollar dropped to its weakest levels since end-January, pointing to some possible outflows out of the territory.

Growth-sensitive Chinese resources stocks saw the bigger percentage losses in Hong Kong.

Jiangxi Copper and Angang Steel each lost about 4 percent, while Yanzhou Coal slipped 3.3 percent.

Sun-Art Retail Group Ltd, among the largest hypermart operators in China, slumped 6.7 percent in more than three times its 30-day average volume after posting a sharp slowdown in same-store sales for the second half of 2011.

The Shenzhen Component Index was up 1.31 points percent or 0.01 percent to close at 9,616.65 points today on transaction value of 78.12 billion yuan.

Both indices opened sharply higher today following the 0.5 percentage point cut in the required reserve ratio. Trading was volatile in the morning. The markets began to fall during the afternoon session.

Top Headlines:

Commercial banks posted a 36.3 percent year-on-year increase in fourth quarter 2011 net profit to 1.04 trillion yuan, of which non-interest income accounted for 19.3 percent. This means that banks earn 2.85 billion yuan on average per day.

Through the end of the fourth quarter, commercial banks had total outstanding non-performing loans of 427.9 billion yuan, up 20.1 billion yuan from the previous quarter. The non-performing loan ratio was one percent.

Last week, stock mutual funds reduced their holdings by 1.77 percent week-on-week to 79.46 percent following a lack of market  momentum.

CICC predicts new loan growth in February mat hit two trillion yuan. It anticipates two to three more reserve ratio cuts during the first half of 2011.

According to CICC, CPI growth may slow to 3.5 percent in February.

According to Wind, a total of 52 listed companies had announced plans to raise funds through the end of last week, with plans to raise as much as 106.47 billion yuan, compared with plans by 13 companies to raise 48.17 billion yuan a year ago.

Equity Movers:

Electronic product makers were the most bullish, with five shares up by their daily limits, including Sichuan Huiyuan Optical Communications (000586, 6.56, +10.067%), Shenzhen Dvision Video Communications (300167, 18.46, +10.012%) and Zhengzhou Brand new C.A.P Electronics (300248, 31.65, +10.010%).

The cement sector was the second-biggest sector today. Jilin Yatai Group (600881, 5.54, +4.924%), Xishui Strong Year Inner Mongolia (600291, 7.04, +3.988%) and Henan Tongli Cement (000885, 11.97, +2.308%) were up by more than two percent.

Financials traded mixed. China Pacific Insurance (601601, 21.01, +0.864%), Ping An Insurance (601318, 40.09, +0.855%) and New China Life Insurance (601336, 29.85, +0.573%) rose.

Agricultural Bank of China (601288, 2.72, +0.741%), Minsheng Banking Corp (600016, 6.47, +0.466%) and Bank of Communications (601328, 12.88, +0.390%) gained.

Following remarks by Guo Shuqing, the Chairman of CSRC, that he supported listing applications by catering firms, shares from companies in related industries surged. China Quanjude Group (002186, 30.79, +10.00%), Xian Catering (000721, 7.81, +3.99%) and Beijing Xiangeqing (002306, 17.51, +1.21%) outperformed.