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Goldwind gets nod for HK IPO

Visitors looking at a Goldwind turbine at a wind power exhibition in Beijing. The wind power equipment maker expects overseas sales will account for up to 30 percent of its business over the next three to five years. [Wu Changqing / for China Daily] Listing comes as company eyes ...

Cnooc bags oilfield deal in Iraq

A worker operates valves at the Rumaila oil refinery, near Basra, Iraq. [Provided to China Daily] Chinese, Turkish alliance will raise Missan output to 450,000 bpd BEIJING - Cnooc Ltd, the listed unit of China National Offshore Oil Corp, and Turkish Petroleum Corp (TPAO), ...

Retailer scores with new tactic

Playing basketball free of charge outside a Beijing Decathlon store. The Paris-based sports goods supermarket chain has opened 23 outlets in 12 Chinese cities and is ready to launch 10 new premises in 2010. Some outlets have been able to attract crowds and even entire families ...

Chinese engineers boost Nigeria's roads

Sino contractors also dredging a port and building a student dorm Lagos, Nigeria - Driving on poor roads jammed with traffic through Lagos, Nigeria's largest city and its economic heart, can be one of the most demanding jobs in the world - so Yemi, a local driver, has to keep a ...

Tire makers set sights on pricey wheel market

Tires for motor cars are ready for shipment at a Michelin plant in Clermont Ferrand, France. The French company has expanded its network to China's third-and fourth-tire cities, with more than 5,000 dealerships across the nation. [NICOLAS THIERRY / FOR CHINA DAILY] BEIJING - ...

Cnooc, General Electric plan PE fund

Cnooc has invested more than 15 billion yuan in building deep-water oil and gas exploration facilities. [China Daily] New venture likely to consider investments in energy projects at home and abroad BEIJING - China National Offshore Oil Corp (Cnooc) and global conglomerate ...

7 Days charts course for expansion

Alex Zheng, chief executive officer of budget hotel chain 7 Days Group. Budget hotel chain 7 Days Group plans to have 1,800 hotels under its fold over the next five years by setting up more new units as part of its efforts to catch up with industry leader Home Inn, according to ...

Zijin Mining sets sights on Indophil

A geologist examining the drill core at the Tampakan copper and gold mine project in the southern Philippines. The project holds 13.5 million tons of copper and 15.8 million ounces of gold. [Agencies] Chinese miner Zijin Mining Group has made a $498 million takeover offer for ...

Yunnan Copper mulls Kazakh buy

Domestic copper prices hit over 40,000 yuan per ton in April and stands at over 50,000 yuan per ton now. [Bloomberg news] Yunnan Copper Co, China's third-largest copper producer, is thinking of acquiring a copper mine in Kazakhstan next year, the company's general manager Yang ...

Wugang to pay $400m for stake in MMX

A ship laden with iron ore making its way into the industrial port of Wugang. The Chinese steelmaker will become the second-biggest shareholder in the Brazilian miner.[China Daily] Steelmaker Wuhan Iron & Steel Group (Wugang) is acquiring a 21.52 percent stake in Brazilian iron ...

Bottler refutes tainted claim

A Beijing supermarket displays on Sunday bottles of the Nongfu Orchard 30% Mixed Fruit and Vegetable Juice, which Haikou city officials claimed contain arsenic. [China Daily] Nongfu Spring Co yesterday refuted the claim by Haikou city officials that two of its beverages were ...

China Pacific gets nod for public float

China Pacific Insurance Co Ltd on Friday got the green light from Hong Kong Stock Exchange for its $3.4 billion share float in Hong Kong. The company has wrapped up the regulatory inspection process and is likely to launch the road show as early as next week in order to get ...

Sanlu sued by tainted-milk victim family

A lawsuit filed by a family that was a victim of the melamine-tainted milk scandal saw its day in court on Friday - the first trial for the families suing the milk company since the incident broke out more than one year ago. Several courts nationwide have previously accepted ...

Hyundai mulls new China unit

The new plant, to be completed by the end of 2011, will produce 300,000 vehicles per year. [China Daily] Hyundai Motor Co, South Korea's biggest automaker, plans to build a third plant in China to meet demand in the world's largest automobile market so far this year. The new ...

Li hikes stake in holding firm

Cheung Kong (Holdings) Ltd Chairman Li Ka-shing, Hong Kong's richest man, is buying more shares in the property developer, the worst-performing stock this year among the city's five biggest real-estate companies. Li paid HK$424 million for 4.39 million shares, about HK$96.50 each...

Sinopec, TPG considering joint bid for LyondellBasell

Any bids for LyondellBasell may compete against a reorganization plan. [Bloomberg News] NEW YORK: China Petroleum & Chemical Corp (Sinopec), the nation's biggest oil refiner, and US buyout firm TPG have weighed a bid for bankrupt chemicals company LyondellBasell Industries AF ...

China Shipbuilding to raise 6.4b yuan through float

China Shipbuilding will use IPO funds to build or expand 22 projects. [China Daily] China Shipbuilding Industry Co, the nation's largest maker of vessel equipment, plans to raise at least 6.4 billion yuan selling shares as China tries to pare its reliance on Japanese and South ...

Local contractors set sail overseas

China's overseas construction and engineering sector enjoyed 37 percent growth in 2009 and is expected to expand another 10 percent this year, according to China International Contractors Association yesterday. A Chinese employee and his Saudi Arabian colleagues work on an oil ...

Suning flips the switch on rural expansion plan

Suning Appliance, China's second largest consumer electronics retailer, is planning to open 500 new stores in China this year, including 200 in urban settings and 300 in rural areas, the company's chairman said yesterday. Encouraged by China's efforts to stimulate consumption of ...

Picking up the pieces

A client tries to locate his receipt among thousands scattered around at the DDS headquarters.[China Daily] More than 10 percent of Beijing's courier companies are likely to be involved in mergers and acquisitions this year because of fierce competition in the sector, say experts...
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