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Beijing Capital partners with JPMorgan

The Beijing Capital Group has now launched a Private Equity Fund with an investment arm of JPMorgan, One Equity Partners. JPMorgan says it plans to invest $200-million US dollars in China over the next 2 to 3 years. Beijing Capital says the newly launched fund is a yuan...

Apple to Unveil Faster iPhone in September: Report

Apple Inc. plans to introduce a new iPhone in September featuring faster chip and more advanced camera, U.S. media reported on Wednesday. The new iPhone model, which will closely resemble iPhone 4, will include the A5 processor, a more powerful chip that Apple added to the iPad 2 ...

BAIC Builds Auto Production Base in S China

The Beijing Automotive Industry Holding Co.,Ltd. (BAIC) started construction on an automobile production base on Wednesday in Guangzhou, capital of south China's Guangdong Province. The company's total investments for the base amount to 5 billion yuan (773.5 million U.S.dollars), ...

Scandals or not, VC firms still love China Net startups

The rash of accounting scandals that has hit US-listed Chinese stocks has not curbed the appetite of private equity and venture capital firms looking for the next set of Chinese Internet stars in the mainland's "So-Lo-Mo" and luxury e-commerce sectors. PE and VC firms are still ...

Listed companies safe from droughts, floods

Battered first by droughts and now floods, the livelihood of the people and industrial output have been greatly affected, but most listed companies said it has been business as usual for their operations despite the adverse weather conditions, the China Securities Journal ...

Gome sues ex-chairman for allegedly damaging reputation

Gome Electrical Appliances Holding Ltd said it filed a lawsuit against its former chairman, Chen Xiao, for allegedly breaching an earlier agreement with the company and damaging its reputation and operations. China's second-largest home grown electronic appliance distributor, in ...

China Eastern Airlines joins SkyTeam

SHANGHAI -- China Eastern Airlines, a Shanghai-based Chinese airline giant, formally joined the SkyTeam airline alliance Tuesday, according to a company news release. As a member of the SkyTeam alliance, China Eastern and Shanghai Airlines' passengers will be able to transfer to ...

Comac president talks about self-dependent innovation

PARIS -- Self-dependent innovation and international cooperation will help Chinese large passenger aircraft soar around the world, President of the Commercial Aircraft Corporation of China Ltd (Comac) Jin Zhuanglong has said during the ongoing 49th Paris Air Show. Established in ...

BYD's new shares open to subscription

BEIJING -- Investors started on Tuesday to subscribe to new shares of BYD Co Ltd, the Chinese car maker backed by US billionaire investor Warren Buffett, after the company set its Shenzhen share offering price at 18 yuan ($2.8) per share a day before. The company, which already ...

Ejiao maker intent on leaping hair and hide into health food

BEIJING - Shandong Dong E E Jiao Co Ltd, the largest Chinese ejiao maker by market share, wants to boost its health food business in order to grab a big slice of the promising industry, the company said on Monday in Beijing. "We plan to increase the proportion of health food in ...

Hong Kong stocks end 1.16 percent higher

Hong Kong stocks went up 251.08 points, or 1.16 percent,to close at 21,850.59 on Tuesday, boosted by the good performance of property developers. The benchmark Hang Seng Index opened 184.35 points higher, or 0.85 percent at 21,783.86, then traded between 21,656.06 and 21,875.16 ...

New Era for 3rd-party Payment Firms

China's third-party online payment industry is set to take off in the next couple of years, with the number of players and services certain to expand. The industry was given a boost when the People's Bank of China recently announced licenses for 27 non-financial institutions to ...

Comac seals deal with engine maker

PARIS -- Commercial Aircraft Corporation of China Ltd (Comac) signed a contract on Monday with CFM International, making the engine maker the sole overseas supplier for its C919 passenger plane's propulsion system. The LEAP-X1C engine under development by CFM International was ...

Suning plans to add 200 stores a year

Suning Appliance, China's biggest home appliance retailer, aims to add 200 stores a year to its existing franchise network over the next ten years, the Securities Times reported Sunday, citing company chairman Zhang Jindong. The company expects to have 50 stores and lead the ...

Softbank to end dispute with Alipay soon

Softbank Corp Chairman Masayoshi Son said he expects to reach an agreement "soon" on its dispute over Alibaba Group Holding Ltd's sale of the Alipay online-payment unit. Son didn't elaborate on details of the talks with Alibaba to reporters in Seoul, where he attended an energy ...

Dairy firms blamed for poor milk

BEIJING - China's dairy industry has the lowest quality standards in the world and much of the blame is down to the large companies that dominate it and the rock-bottom prices they pay farmers for raw milk, said industry experts. "Milk processors and farmers all know that the ...

Developers seek profits below the surface

BEIJING - With the volume of home sales continuing to fall amid strict measures aimed at tightening the property market and lowering house prices, some real estate companies are trying to dig their way out of the uncertainty by getting into mining. By June, at least 15 property ...

Wal-Mart China exec Shawn Gray resigns

Wal-Mart Stores Inc (WMT) said its vice president of operations in China left the company, becoming at least the third executive from that nation to depart in the past month. Shawn Gray left for "personal reasons," Wal-Mart said in an e-mail today. The Bentonville, Arkansas-based ...

Overseas Chinese talents find home with domestic companies

HANGZHOU -- Fifty-year-old Shanghai native Yang Liyou had been doing research on solar cells in the United States for many years, but when he came back to Zhejiang province, he became a "shipmaster." "Let's buy a ship together, and you could be the captain," Yang was quoting Nan ...

Film industry faces challenges in storytelling

SHANGHAI -- The prosperity of China's film industry became apparent last year, but insiders believe the sector still faces challenges stemming from a lack of production talents and substandard narratives. The film industry recorded 10 billion yuan ($15 billion), in box-office ...
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