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Wal-Mart to invest in China's e-commerce store

BEIJING - US retailer giant Wal-Mart said on Friday that it has signed a deal to buy a minority stake in China's emerging online store Yihaodian. Wal-Mart said the transaction will be closed within 60 days, but the two companies did not reveal the specific volume of the deal. ...

China Unionpay, Ping An sign strategic co-op agreement

BEIJING - China Unionpay, a national bank card association, and Ping An Insurance (Group) Co signed a strategic cooperation agreement on Friday to increase their influence in each other's industries. The two companies have launched cooperation in premium collections, issuance of ...

Emerging markets leading global M&A table

BEIJING - An increasing number of companies from emerging markets, led by China and India, have taken control of businesses in developed economies since 2002. That's according to a recent study by the consulting firm, A.T. Kearney. The number of cross-border merger and acquisitio...

NY-listed Chinese Wheel Maker Eyes Global Acquisition

China Zenix Auto International Ltd, which launched its initial public offering (IPO) on Thursday on the NYSE, plans to become the world's largest commercial vehicle wheel maker through global acquisition, the company's CEO said on Friday. "The IPO is not for financing purpose, so ...

Wal-Mart to Invest in China's Emerging E-Commerce Store Yihaodian

U.S. retailer giant Wal-Mart said on Friday that it has signed a deal to buy a minority stake in China's emerging online store Yihaodian. Wal-Mart said the transaction will be closed within 60 days, but the two companies did not reveal the specific volume of the deal. "Online ...

Unionpay, Ping An Sign Strategic Co-op Agreement

China Unionpay, a national bank card association, and Ping An Insurance (Group) Co. signed a strategic cooperation agreement on Friday to increase their influence in each other's industries. The two companies have launched cooperation in premium collections, issuance of Unionpay ...

Alibaba Clarifies Decision on Transfer of Alipay

Alibaba is now clarifying its decision to transfer the ownership of its online-payment unit Alipay to a company controlled by Alibaba Group founder Jack Ma. The company says the move is a response to rules issued last year that could potentially bar foreigners from owning ...

Two Chinese Companies Debut on the NYSE

Two Chinese companies have now debuted on the New York Stock Exchange. However, the offerings have been mixed. Shares of Phoenix New Media have done well in their stock market debut. The stock has closed at 14-dollars-75-cents US, 34 percent above its 11-US dollars IPO price. ...

CGNPG uranium subsidiary develops new mines

The move may increase the nation's production capacity by 1,000 tons BEIJING - The uranium subsidiary of China Guangdong Nuclear Power Group (CGNPG) said it is developing two large mines in China's Guangdong province and the Xinjiang Uygur autonomous region. The move is likely to ...

China's Little Sheep devoured by Yum!

A Little Sheep hot pot restaurant in Beijing. The chain has nearly 500 outlets throughout China, East Asia and North America. [Photo / China Daily] SHANGHAI - Yum! Brands Inc is set to acquire the Hong Kong-listed Mongolian hot pot brand Little Sheep Group Ltd at a 30 percent ...

Alibaba clarifies decision on transfer of Alipay

Alibaba is now clarifying its decision to transfer the ownership of its online-payment unit Alipay to a company controlled by Alibaba Group founder Jack Ma. The company says the move is a response to rules issued last year that could potentially bar foreigners from owning ...

New Zealand firms urged to explore China market

AUCKLAND -- New Zealand Prime Minister John Key said New Zealand companies and trade organizations could do more to explore opportunities in the China market. In an exclusive interview with Xinhua at the biennial New Zealand Chine Trade Association (NZCTA) awards in Auckland ...

Coke sizes down to avoid rising costs

Beverage giants Coca Cola and Pepsi have avoided raising prices in China by reducing the size of their packaging, the Beijing Morning Post reported on Thursday. Coca Cola and Pepsi changed 600 milliliter (ml) bottle to 500 ml recently, along with changing the smaller pop can from ...

CapitaLand to double investment in China

Workers install signage on a CapitaLand building. The property company currently has $38.4 billion in assets under management, and 36 percent of that figure is in China. [Photo / Provided to China Daily] Singapore developer plans to build 47 malls in five years across 34 cities ...

Moller-Maersk revenue rises

The global shipping giant AP Moller-Maersk has reported a 10 percent year-on-year increase in first quarter (Q1) revenue to $14.5 billion. Q1 profit surged by 82 percent to $1.2 billion.

Two Chinese firms debut on NYSE

Two Chinese companies have now debuted on the New York Stock Exchange (NYSE). However, the offerings have been mixed. Shares of Phoenix New Media have done well in their stock market debut. The stock has closed at $14.75, 34 percent above its $11 initial public offering (IPO) ...

Facebook Denies Waging Smear Campaign against Google

Facebook on Thursday denied waging an alleged smear campaign against Google after it admitted having secretly hired a top U.S. PR firm to plant controversial stories on Google to media outlets. Facebook insisted in a statement that "no smear campaign was authorized or intended," ...

Group Buying Website Admits Cheating

Group-buying website Gaopeng.com has acknowledged cheating on an iPhone 4 drawing through the Sina micro blog and Tencent micro blog on May 10, Beijing Business Today reported on Thursday. The website said in a statement Wednesday that it fired one vice president in charge of the ...

Sina Weibo Announces 140 Mln Registered Users

Sina Weibo, a Twitter-like microblog service, on Thursday announced that it had about 140 million registered users at the end of April, up from 100 million at the end of February. Sina estimates that its microblog service will have more than 200 million registered users by the ...

Renren shares trade below offer price

Shares of social China's networking site Renren have now fallen below its initial offering price of $14, reversing all the gains it made in its market debut. Renren's shares had gained 24 percent when it debuted last week on the New York Stock Exchange. However, it has since been ...
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