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UPS opens Asia-Pacific hub in Shenzhen

With the official opening of its Asia-Pacific hub, UPS is the only logistics and supply chain solutions provider with two hubs in China.[Agencies] UPS launched its inaugural flight at Shenzhen's Bao'an International Airport yesterday, marking the opening of its new intra-Asia hub...

China Eastern Airlines in search for new investors

Observers regard Singapore Airlines as an appropriate candidate to be a strategic investor of China Eastern Airlines. [China Daily] SHANGHAI: China Eastern Airlines, the nation's second largest carrier by fleet size, said it has rolled out the red carpet for potential strategic ...

Fireworks stores explode into life

The sale of fireworks begins yesterday in the city. [China Daily] Beijingers were fired up about fireworks yesterday when 671 licensed pyrotechnics suppliers opened for business within the Fifth Ring Road. Many customers were eager to get their hands on some decorative explosives ...

Take-off time for airline financial services sector

Carriers seek Chinese funds to purchase and lease new aircraft European aircraft maker Airbus said it was seeking a closer partnership with Chinese banks and financial institutions, including the possibility of creating new financing structures. The move comes as more carriers ...

GE China capitalizes on environmentally-efficient products

SHANGHAI: According to GE China President and Chief Executive Officer Mark Norbom, China is in the process of evolving from a low-quality product manufacturing center into a high-quality one, in which he sees vast market potential by bringing into the nation his company's ...

Lenovo expects better PC demand in second-half

The Lenovo Group office in Shanghai. The PC maker said its third quarter revenue rose 33 percent to $4.78 billion. [Bloomberg News] Personal computer maker Lenovo Group Ltd said yesterday that it expects a significant rebound in demand from business users in the second half of ...

First Heavy IPO fails to raise maximum amount

China First Heavy Industries Co became the first company in at least a year to fail to raise the maximum amount sought in a Shanghai IPO after the benchmark index fell 15 percent from its 2009 high. First Heavy, a maker of equipment used in the mining and energy industries, ...

Hanwang float to fund hi-tech upgrades

A salesperson displays a Hanwang e-reader. The company is planning an IPO on the Shenzhen bourse. [China Daily] Hanwang Technology, a Chinese maker of e-readers and portable devices with handwriting recognition, hopes to raise 249 million yuan ($36.47 million) through an initial ...

Youku, Tudou ink video-swap agreement

Victor Koo (left), chief executive of Youku, and Gary Wang, founder and CEO of Tudou, at the cooperation agreement signing ceremony held yesterday in Beijing. The two firms will share soap-opera videos resources. [File Photo] Two major video-sharing websites reached an unusual ...

Shenzhen firm to sidestep Mickey

China's top theme park developer plans to avoid direct competition with The Walt Disney Company by developing new theme parks outside major cities, and a renewed focus on the nation's culture. Liu Pingchun The company, Shenzhen OCT Holding Company (OCT), plans to develop the ...

Shaolin firm may seek listing

A holding company that will manage the tourism-related assets of the Shaolin Temple is likely to seek public funds for expansion before 2011, the Shanghai-based Oriental Morning Post reported yesterday, without specifying where the firm would be listed. The Dengfeng city ...

Chihong forms JV with Selwyn

By becoming a strategic partner in the Selwyn project, Chihong expects to open up the Asian markets for project financing. [Agencies] Zinc maker Yunnan Chihong Zinc & Germanium Co Ltd (Chihong) will invest $94 million to set up a joint venture with Canada's Selwyn Resources Ltd ...

Noodle king eyes food companies

Wei Ing-chou Taiwanese billionaire Wei Ing-chou, whose "Master Kong" brand built Tingyi (Cayman Islands) Holding Corp into China's largest maker of instant noodles, said he may buy mainland food companies and expand his real estate holdings before retiring in four years. Tingyi ...

Google sued over copyright issue

A Chinese female writer accusing Google China of copyright infringement has filed a lawsuit against the company in a Beijing court. Mian Mian, a well-known Shanghai-based novelist, said the Haidian District People's Court is scheduled to hold a hearing on the case on Dec 29. ...

Chinese company takes over White House Theatre

Photo taken on Dec 13, 2009 shows the White House Theatre in Branson, Missouri. China Heaven Creation officially took over the White House Theatre on Monday. [Xinhua] China Heaven Creation International Performing Arts Co Ltd (CHC) Monday formally took over the ownership of the ...

Renovation projects help build market

A worker walks in front of the housing development project Chaoyang Shoufu yesterday. [China Daily] Unfinished buildings, known as lanweilou in Chinese or rotten-tail buildings, are being revived amid the booming real estate market in Beijing. Located in Chaoyangmen area near the ...

Schneider Electric names Chinese exec

A production line employee checks electric contactors at the Schneider Electric factory in Le Vaudreuil, France. Zhu Hai, newly appointed Schneider Electric's first native president in China, does not believe that he will face a series of big challenges at his new job. [Agencies] ...

Seven & I expanding mainland presence

Shoppers at an Ito Yokado supermarket in Tokyo. The largest Japanese retailer is planning to boost its revenue in China to $4.5b over next five years. [Bloomberg News] Seven & I Holdings said yesterday it aims to boost its revenue from China fivefold to about $4.5 billion over ...

Unicom on a roll as iPhone sales surge

China Unicom's high pricing strategy for Apple Inc's smartphone seems to have paid off at least for now after the company reported better-than-estimated iPhone sales yesterday. Industry analysts are, however, skeptical on whether the gamble would pay off in the long run as they ...

Public float set for education group

People swarm into a university in Wuhan, Hubei province, to take the civil service exam in November. Yi Dinghong (pictured right), president of Huatu Education, is bullish about the prospects for the exam training business. [China Daily] An organization that prepares applicants ...
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