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Sino-Ocean seeks controlling stake in Kee Shing

Sino-Ocean Land Holdings announced Wednesday night that it intends take a controlling stake in Kee Shing (Holdings) for HK$474 million ($61 million). Sino-Ocean, which went public on the Hong Kong stock exchange less than three years ago, said in a statement that it offered at ...

Foxconn's shares depressed

HONG KONG: Trading in shares of Foxconn International, the listed arm of the suicide-plagued Foxconn, resumed on Tuesday in Hong Kong and opened at HK$5.5($70.5), down 2.83 percent from the previous closing, in the wake of salary hike announcement. By midday, Foxconn Internationa...

Foxconn hikes workers' pay by nearly 70% after serial suicides

SHENZHEN - Foxconn, a world's leading IT contract manufacturer, announced Sunday night in a statement that it will raise wages for assembly workers at its production base in the southern Chinese city of Shenzhen by 66 percent to 2,000 yuan ($293.3) per month as of Oct 1. Foxconn ...

China's Fosun acquires 7.1% of Club Med

Fosun, China's largest non-government controlled group, has acquired 7.1 percent of holiday resort operator Club Med, the first time a quoted Chinese group has taken a direct holding in a listed French company. Club Med hopes to make China the No 2 market in the next five years ...

Foxconn says to negotiate price rise with clients

HONG KONG - Foxconn International, the HK-listed arm of the Taiwan-based electronics giant Hon Hai Precision Industry, said here on Tuesday that it has started talks with overseas clients over a possible product price rise, which could partly offset rising operating cost ...

Air China to buy 20 Boeing planes for $1.398b

HONG KONG - Air China, China's leading carrier listed in Hong Kong, said late Friday that it would pay $1.398 billion to buy 20 Boeing 737-800 planes. In a statement filed to the HK stock exchange, the carrier said the cost would be "payable by cash in installments" and it would ...

SAIC to raise up to 10b yuan in share placement

SAIC Motor Corp, China's largest domestic carmaker, aims to raise as much as 10 billion yuan ($1.47 billion) in a private share placement to expand in the world's biggest auto market by developing own-brand vehicles. The partner of General Motors Co and Volkswagen AG will sell as ...

China's CCB says parent Huijin backs rights issue

China Construction Bank, the world's second-largest lender by market value, said on Monday that its State-owned parent Central Huijin would fully participate in its rights issue. CCB's statement of Huijin's support, issued to the Shanghai Stock Exchange, comes ahead of a ...

China Resources, Tianjin Gas agree to $590m venture

HONG KONG - China Resources Gas Group and Tianjin Gas have agreed to set up a joint venture to supply natural gas in China's Tianjin, with total investment of about 4-5 billion yuan, China Resources said on Tuesday. City gas distributor China Resources would contribute 49 percent ...

Most listed firms expect gains in first half

Among the 648 listed firms that disclosed their estimates of their first half performance, 525, or over 70 percent, said they expected to report profits, the China Securities Journal reported Tuesday. These profitable companies were concentrated in mechanical equipment, ...

China Metal Recycling eyes Shanghai listing by 2013-15

HONG KONG: China Metal Recycling, the largest scrap-metal recycler in China, plans to list on the Shanghai stock exchange by as early as 2013, the South China Morning Post said on Monday. The company's plans were still at an initial stage, Chairman and Chief Executive Jacky Chun ...

TCL raises $664m in private placement

Chinese appliance and television maker TCL Corp raised 4.5 billion yuan ($664 million) in a private placement of shares last month, the firm said in a stock exchange filing on Monday. The firm issued 1.3 billion shares to 10 select investors at 3.46 yuan per share late last month ...

Air China subsidiary to buy 10 Airbus planes for $814m

HONG KONG - Air China, the country's leading carrier, said late Friday that one of its subsidiary airlines would pay $814 million to buy 10 Airbus 320-series passenger planes. In a statement filed to the HK stock exchange, the Beijing-based carrier said its subsidiary, Shenzhen ...

First securities interim report shows big drop

The first interim report of 2010 for securities brokers was released Friday by Northeast Securities Co in Changchun, capital of Northeast China's Jilin province, the Shanghai Securities Journal reported. The company's business revenue slid 46.29 percent year-on-year to 510 ...

Chalco invests $1.35b in Rio's Simandou iron ore project in Guinea

Aluminum Corp of China Ltd, the nation's biggest producer of the metal, agreed to pay $1.35 billion for a stake in Rio Tinto Group's Simandou iron ore project in Guinea, making its first investment in the commodity. Chalco will acquire a 44.65 percent stake by funding development ...

Jollibee to build food processing plant in China

Jollibee Foods Corp, the largest Philippine fastfood company, will spend 50 million yuan ($7.38) for a food-processing plant that will serve its restaurants in China, a stock exchange filing today showed. The plant will be built in Shucheng county in Anhui province and will be ...

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 ...

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 ...

PCM acquires GM's parts-supplier unit

BEIJING - Pacific Century Motors (PCM), a joint venture between Tempo Group and the Beijing municipal government, completed the acquisition of General Motors' steering-parts manufacturing unit on Tuesday, setting a record for the biggest single overseas purchase in China's ...

China CNR, CHALCO sign accord on supply guarantee

BEIJING - China CNR Corp announced Tuesday that it has signed a framework agreement with Aluminum Corporation Of China (CHALCO) to forge a strategic cooperation as both companies vowed to guarantee supplies to each other. China CNR and CHALCO will prioritize their supplies of ...

Latest World News

china

China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...
Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China's reform leading group holds first meeting
China's reform leading group holds first meeting
BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...

world

finance

Reforms to fuel Shanghai's growth in 2014
Reforms to fuel Shanghai's growth in 2014
BEIJING, Jan. 27 (Xinhuanet) -- Shanghai's financial sector grew 13.7 ...
Economist sees world economy strengthening in 2014
Economist sees world economy strengthening in 2014
NEW YORK, Jan. 24 (Xinhua) -- Global economy is likely to gain ...
Xinhua Feature: World's political, business leaders gather in Davos for WEF
Xinhua Feature: World's political, business leaders gather in Davos for WEF
DAVOS, Switzerland, Jan. 22 (Xinhua) -- The snow-covered Swiss town of ...

company

industry

Chinese leader calls for more marine power
Chinese leader calls for more marine power
Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...
Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...
Super car club in commercial drive
Super car club in commercial drive
On the night of Nov 11, more than 150 super cars were driven into the ...

trade

sports

Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...
Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Stars 'Big Three' fall short of title in 1st year
Stars 'Big Three' fall short of title in 1st year
Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...
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