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REIT IPO likely to raise 11b yuan

HONG KONG - Billionaire Li Ka-shing's property trust may raise as much as 11.2 billion yuan ($1.7 billion) in the first Chinese currency-denominated initial public offering outside the mainland. Hui Xian Real Estate Investment Trust (REIT) is offering 2 billion units in a price ...

Lashou raises $111m, plans expansion abroad

Lashou.com advertisement in a street in Nanjing, Jiangsu province. Founded in March 2010, Lashou has quickly grown into China's biggest group-purchasing website with an estimated market value of $1.1 billion. [Photo / China Daily] BEIJING - Lashou.com, China's biggest group...

Vanke to build govt-subsidized homes

A booth of China Vanke Co Ltd at a property expo in Beijing. The company on Monday signed a deal with the department of housing and urban-rural development of Hebei province to build between 6,000 and 8,000 government-subsidized apartments in the province. [Photo / China Daily] ...

IBC Solar opens Beijing office

BEIJING - The German photovoltaics specialist IBC Solar, the world's biggest solutions provider for solar-generated power by sales revenue and turnover, made its entry in the Chinese market by officially establishing an office in Beijing on Monday. "Although China has been a ...

Few defective 737 models available in China: Boeing

BEIJING - The China office of US aircraft manufacturer Boeing said Monday that very few of its Boeing 737-300, 737-400 and 737-500 jets prone to fuselage ruptures were available on the Chinese market and passengers could be assured of their safety. Most Chinese airline companies ...

BASF SE starts building plant in SW China

CHONGQING - World-leading chemical maker BASF SE officially started on Monday the construction of an environmentally safe chemical plant in China's ecologically fragile Three Gorges Dam area in southwest China. With $1.2 billion coming from BASF SE, the project is expected to ...

Court Rules against Harvard Twins in Facebook Suit

A U.S. federal appeals court on Monday ruled that two former Harvard University schoolmates do not have a right to negotiate a better settlement over the creation of social network Facebook. The U.S. Court of Appeals in San Francisco rejected claims of Cameron and Tyler ...

Chinalco obtains rare-earth rights

The aluminum producer will take a controlling stake in a new venture BEIJING - Aluminum Corporation of China Ltd (Chinalco), the nation's largest aluminum producer, will take a controlling stake in the rare-earth subsidiary of the State-owned Guangxi Nonferrous Metals Mining ...

Going head-to-head in the high-end hospitality sector

Cleaners work near the sign for Hilton Hotels Corporation's Conrad Hotel in Hong Kong. Building on the success of its four brands - Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, and DoubleTree by Hilton - Hilton Worldwide will launch eight ...

Following in father's foot steps presents challenges

Zheng Laili, vice-president of Kangnai Group and daughter of its founder, Zheng Xiukang. [Photo / China Daily] Daughter and son learn the ropes from the shop floor upward SHANGHAI - After formally announcing his daughter and son as successors of the family enterprise last year, ...

Time stops for no businessman

"It's not a problem of 'who?' - we all want to pass our business to our children - but of 'when?'," said 60-year-old Li Rucheng, chief executive officer of Youngor. [Li Feng / China Daily] Entrepreneurs consider successful family succession in private sector SHANGHAI - As many ...

Pewter maker seeks growth in China

A Royal Selangor pewter tea set named "Four gentlemen", inspired by the symbolism of plum blossom, orchid, chrysanthemum and bamboo - considered to be the embodiment of the virtues and high ideas of a Confucian scholar or gentleman - on display at a shop in China. [Photo / China ...

Rising to the challenge of a new enterprise

Li Da (left) with his father Li Zhongjian, who founded the Tung Fong Lighter Industrial Co Ltd. Li senior is famous for playing the late Chinese leader Deng Xiaoping, whom he resembles, in the TV series Dongfanghong (East is Red) and other films. [Photo / China Daily] SHANGHAI - ...

China Southern Airlines starts new direct service to Auckland

AUCKLAND - The inaugural flight to New Zealand by China Southern Airlines arrived in Auckland on Saturday, launching a three-flight-a-week direct service that is being highlighted as a significant opportunity for New Zealand's tourism sector and economy. Aboard flight CZ305 was a ...

BoCom Expands Wholesale Business in U.S.

The Bank of Communications now says it will broaden its wholesale services in the United States to include deposit-taking, lending and trade financing. The Federal Reserve Board has now approved the bank's application to establish a branch in San Francisco. As a limited branch, ...

Chalco, Sapa seal deal for aluminum JV

BEIJING - The Aluminum Corporation of China Ltd (Chalco) signed an agreement on Friday with Sweden's extruded aluminum profile maker, Sapa Group, to create a 50-50 joint venture in southwest China to produce aluminum parts for high-end rail transit projects. Under the agreement, ...

Longyuan buys 24 turbines from Vestas

BEIJING - The world's largest wind turbine maker, Vestas, said it had signed its first order in 2011 with Longyuan, China's largest wind farm developer, for selling the latter 24 new turbines, with a combined installed capacity of 48 megawatts (mW). The 24 units, all of which are ...

Citic Securities reports 26% rise in 2010 profits

BEIJING - Citic Securities Co, China's biggest brokerage by assets, said Saturday its net profits rose 25.91 percent year on year in 2010, boosted by the strong performance of its core businesses. Net profits increased to 11.3 billion yuan ($1.72 billion), or 1.14 yuan a share, ...

Shanghai Disneyland gives new hope to theme parks

SHANGHAI - The Shanghai Disney Resort presents an opportunity to prove that a theme park can be profitable in China and will possibly cause such places to become more popular among the Chinese, according to experts. Theme parks were introduced to China two decades ago. Yet, ...

Train maker heads overseas to further expansion plans

BEIJING -China CNR Corp, one of the nation's leading train manufacturers, aims to open factories in Australia and Eastern Europe to tap international opportunities, said a senior company executive on Friday. "CNR will continue to establish manufacturing bases abroad, especially ...
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