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Baidu pledge signals crackdown on copyright thieves

BEIJING - Chinese netizens enjoying free online reading might soon be paying for literary works as two pillars of China's Internet world appear to make up in a row over piracy. Online publisher Shanda Literature Corporation is hoping that a pledge by search giant Baidu to resolve ...

Beauty pill maker Inneov sees big future in China market

Cosmetic dietary supplements are in the 'routine of Asian women' PARIS - Inneov, the maker of beauty pills owned jointly by L'Oreal SA and Nestle SA, plans to enter China next year and may also expand in Latin America as more people turn to dietary supplements to treat skin and ...

Zoomlion plan for share sale approved

Hong Kong - Changsha Zoomlion Heavy Industry Science & Technology Development Co got the Hong Kong Stock Exchange's approval for a share sale that could raise more than $1 billion, two people familiar with the matter said. The company, which makes cranes, cement mixers and ...

Dangdang IPO prices above range

E-Commerce China Dangdang Inc priced shares in its initial public offering (IPO) above the expected price on Dec 6, raising 14.3 percent more than expected, Reuters reported on Dec 7, citing an underwriter. The top-ranked Chinese online retailer sold 17 million American ...

China regulator: No application yet for Xinmao's Draka bid

China's Ministry of Commerce said it has not received an application from Chinese group Xinmao for a proposed $1 billion euro ($1.3 billion) bid for Dutch cable maker Draka, but said it supports overseas investments by Chinese companies. The ministry issued the statement on Dec 7...

Chinese firm starts producing unmanned helicopters

JINAN - A private Chinese firm has started producing unmanned helicopters for civilian use. Cheng Shenzong, chairman of Weifang Tianxiang Technology Group, said the company has delivered three of the independently developed helicopters and it will produce 100 such aircraft a year...

All-electric bus may help BYD drive into US

SHENZHEN - BYD Company Limited's first vehicle to hit the US road might be an all-electric bus and the US market is set to be the company's largest overseas market. BYD, partly owned by billionaire Warren Buffett, is currently building its US headquarters in downtown Los Angeles. ...

Dalian Port shares up 26% in Shanghai debut

Dalian Port opened at 4.59 yuan (69 cents) on its first day of trade in Shanghai on Dec 6 compared with its IPO price of 3.80 yuan. Within the first minutes of trade, it rose as much as 26 percent from the IPO price to 4.80 yuan. Dalian Port raised 5.7 billion yuan after selling ...

China's Bright Food may buy GNC

China's Bright Food Group Co is nearing a deal to buy US vitamin retail chain GNC Holdings Inc for $2.5 billion to $3 billion, Reuters reported on Dec 6, citing the Wall Street Journal. The potential acquisition of Pittsburgh-based GNC, which is owned by Ares Management and the ...

Zoomlion aims up to $2.13b in HK IPO

Changsha Zoomlion Heavy Industry Science and Technology Co Ltd aims to raise between $1.57 and $2.13 billion through a Hong Kong initial public offering (IPO), Reuters reported on Monday, citing a term sheet. Changsha Zoomlion had set a price range of HK$13.98-18.98 per share for ...

HSBC offers RMB settlement deals in India

MUMBAI -- HSBC Bank has offered renminbi settlement for Indian importers, said Stuart Davis, CEO of HSBC in India. Speaking on the sidelines of a bankers' conference in Mumbai, Davis told Xinhua that the deals are medium-sized and it will take time to gain liquidity in this ...

China's Shougang halts operations in Beijing

China's major steelmaker Shougang said it plans to halt its main steelmaking operations in the Shijingshan district of Beijing by Dec 31, Reuters reported. The main facilities include ironmaking workshops, coking plants, steelmaking workshops and high-speed wire rod mills, which ...

China's supreme court Open Day begins trademark hearing

BEIJING -- China's highest court, the Supreme People's Court (SPC), Friday held an Open Day event with a hearing on a trademark dispute involving Sony Ericsson China. It also unveiled two animated spokespersons to promote the judiciary's openness. Over 30 reporters and public ...

High-speed rail deals on move

China to set up joint ventures with countries from around the world XUZHOU, Jiangsu - China is expected to sign a batch of cooperation documents with other countries that are interested in China's railway progress during the upcoming Seventh World Congress on High Speed Rail in ...

Rio Tinto and Sinosteel extend joint venture

BEIJING - Sinosteel Corporation and the global miner Rio Tinto Group on Friday agreed to extend their Channar mining joint venture in Western Australia to produce a further 50 million tons of iron ore from 2012 to 2017. The joint project, in which Sinosteel owns a 40 percent ...

Adecco, FESCO establish new HR venture

SHANGHAI - The world's largest human resources (HR) service provider, Adecco, and the Beijing Foreign Enterprise Human Resources Service Company (FESCO), have announced that they will establish a joint venture, called FESCO Adecco, with registered capital of 21 million yuan ($3...

Foreign firms get slice of China medical market

BEIJING - Foreign businesses will get the chance to break into the Chinese medical market in a big way, thanks to the latest series of measures aimed at encouraging the development of private hospitals. The changes that allow fully foreign-owned hospitals to be established on the ...

Rio to export 140m ton iron ore to China in '10

Global miner Rio Tinto Group will export 140 million tons of iron ore to China this year, Reuters reported on Dec 3, citing Rio's iron ore chief Sam Walsh. Rio Tinto on Dec 3 announced separate deals to strengthen its partnership with China's Chinalco and Sinosteel to step up ...

China Vanke says Nov property sales up 146%

China Vanke Co Ltd said on Dec 2 preliminary data showed its property sales for November jumped 146 percent from a year earlier to 12.9 billion yuan ($1.9 billion). The country's top developer recorded sales of 99.8 billion yuan in January through November, it said in a brief ...

Citi, China Life invest more in Guangdong bank

Citigroup and China Life have fully participated in the $2.2 billion rights issue of Guangdong Development Bank, maintaining their leading stakes in the Chinese lender, China Life said on Friday. The world's biggest life insurer by market value had invested an additional 3 ...
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