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Ikea to double stores in China

A customer shops in an Ikea store in Beijing. The home-furnishing retail giant started construction of its second store in the city on Wednesday and aims to have at least 16 outlets on the Chinese mainland by 2015. [Photo / Bloomberg] Construction commences on Swedish retail ...

Fishery agreements aim to net more maritime opportunities

A swordfish on display at the Fifth Shanghai International Fisheries and Seafood Expo. In 2009, Shanghai Fisheries General Corp hauled 141,500 tons of seafood. [Photo / China Daily] SHANGHAI - The largest Chinese deepwater fishing company has expanded its reach in the Pacific ...

Longyuan to up overseas wind farm spending

$450m investment plans include projects in S. Africa, United States BEIJING - China Longyuan Power Group, the Hong Kong-listed new-energy unit of China Guodian, will invest 3 billion yuan ($450 million) in overseas expansion next year, and three wind projects in the United States ...

Tech, consumption-good firms, SOEs lead top 50

BEIJING - State-owned enterprises (SOEs) dominated the ranking while technology innovators and consumption goods companies also made a strong showing in a list of the 50 most valuable Chinese brands. China Mobile, the country's major mobile phone carrier, took first place in the ...

DHL continues to deliver the goods in China

A cyclist rides past a DHL Worldwide Express advertisement in Shanghai. Due to strong economic growth, the logistics company sees China as an "essentially important" market. [Photo / Bloomberg] BEIJING - Despite concerns over a slowdown in China's economic growth, Deutsche Post ...

Falling component prices aid Lenovo

Lenovo Group expects its profit margin to rise as component prices drop and sales of its smartphone, the LePhone (above), increase. The company will launch the LePad, a tablet PC similar to the iPad, in China within a few weeks. [Photo / Bloomberg] CFO expects firm's operating ...

Aircraft tire firm may open China plant

A model of a Commercial Aircraft Corporation of China Ltd (Comac) C919 airplane is seen at the Farnborough International Airshow in the United Kingdom on Wednesday. The airshow is being held from July 19-25. [Simon Dawson / Bloomberg] FARNBOROUGH, UK - Dunlop Aircraft Tyres (DAT)...

BBVA may boost CITIC Bank stake

The Spanish bank is expected to earmark 1.1b euros to increase its stake to 15 percent in China CITIC Bank. [China Daily] China's medium-sized lenders are competing to raise capital from foreign partners or the stock market and eyeing opportunities to boost loan business in the ...

UCWeb bets big on surging 3G volumes

Mobile phones will soon surpass personal computers as the preferred device for Internet users in China over the next three years, according to a top official of mobile Internet firm UCWeb. Yu Yongfu, chief executive of the venture-funded UCWeb, said mobile Internet users in China ...

Far East seeks 66b yuan for hybrids venture

Yang Rong Far East Golden Resources Group Ltd, headed by Yang Rong, who fled China in 2002, is seeking 66 billion yuan to build hybrid cars in the country, a sum about 44-times its market capitalization. Three China-listed companies have agreed to back the plan, and Far East is ...

Sinopec keen despite Iraq snub

In June, Sinopec agreed to buy the Swiss oil explorer for $7.3 billion. [CFP] Sinopec Group, China's second largest oil company, said yesterday it remains active in its efforts to bid for oilfields in Iraq despite being rebuffed in the second round of bidding. "Sinopec is still ...

Sands China raises $2.5b after pricing IPO at bottom

The company plans to use the IPO funds to restart a casino resort in Macao. [Bloomberg News] Sands China Ltd and its parent, the casino company controlled by billionaire Sheldon Adelson, raised HK$19.4 billion ($2.5 billion) in a Hong Kong initial public offering conducted at the ...

China State Construction nets $100m US subway deal

The company has signed more than $2 billion worth of contracts in the US this year. [China Daily] China State Construction Engineering Corp, the largest contractor in China, has bagged a subway ventilation project worth about $100 million in New York's Manhattan area, marking the ...

Dow Corning serves China's wind industry

A technician does testing in a Dow Corning lab. The company is expanding its clean energy business in China. [File photo] When Tom Cook attended China Wind Power 2009, the country's major exhibition for the industry, he was amazed by the booming sector showcased at the event in ...

GM's Hummer comes a cropper

Sichuan Tengzhong Heavy Industrial Machines failure to acquire the iconic sports utility vehicle brand Hummer from General Motors (GM) does not come as a surprise and was to be expected, said leading industry analysts. Tengzhong said Thursday it was withdrawing its proposed ...

Carlyle to partner with Fosun Group

Joint fund to invest $100m in private, high-growth companies US buyout giant Carlyle Group will partner with Shanghai Fosun High Technology (Group) Co Ltd (Fosun Group) to create a yuan-denominated fund that will focus its investments on rapidly expanding companies in China. ...

Bra manufacturer in top form with 4th factory

HONG KONG: Top Form International Ltd, a Hong Kong bra maker that supplies brands including Calvin Klein and Maidenform, plans to increase manufacturing capacity as retailers in the US and Europe restocks and demand rebounds. Top Form, which has almost tripled in market value ...

New steel firm melting pot of consolidation

Jinan Iron and Steel Co Ltd (Jigang) will acquire Laiwu Steel Corporation (Laigang) through a share swap, paving the way for the backdoor listing of their controlling shareholder Shandong Iron and Steel Group Co Ltd (Shangang). According to statements the two steelmakers filed to ...

CREC shares peak on order wins

A worker reinforces steel bars at a China Railway Erju Co, Ltd project in North China. Railway construction companies are set to gain from the rapid development of the country's railway network. [China Daily] SHANGHAI: Shares of China Railway Erju Co Ltd (CREC), a subsidiary of ...

Air China mulls cargo venture

Air China is Cathay Pacific's second-largest shareholder with a 30-percent stake. [CFP] Air China Ltd, the nation's flag carrier, and Cathay Pacific Airways Ltd intend to sign an agreement to form an air-cargo venture before the end of the week, said three people familiar with ...
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