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Mutual fund giant increases property shares

SHANGHAI - China Asset Management Co, the nation's biggest mutual fund company, boosted its holdings in property stocks in its flagship fund in the fourth quarter even as the government tightened policies to curb asset bubbles. Wang Yawei increased the proportion of real estate ...

China's Li Ning to break into US sportswear market

China's homegrown sportswear brand Li Ning is going to expand into the US market using a low-budget edge, The Associated Press (AP) reported. The brand, which was founded by former gold medal gymnast Li Ning, now has more than 7,900 stores across China. It is among the first ...

China Reinsurance plans global expansion

China Reinsurance (Group) Co, China's biggest reinsurer, plans to gradually build up its global operations, including growth via mergers and acquisitions and international cooperation, Bloomberg reported Monday. The group's revenue totaled 38.3 billion yuan ($5.8 billion) last ...

Toasting the tofu with fine wines as West courts East

Workers harvest grapes at the Chateau Margaux vineyard in the Bordeaux region of France. After experimenting with Shandong and Shanghai cuisine, Chateau Margaux will now try matching more styles of Chinese cuisine with its wines. [Photo / Bloomberg] French vineyard Chateaux ...

Spring Airlines to restart IPO plans, hires UBS

Chinese budget carrier Spring Airlines has resumed a long-delayed plan to sell shares publicly in Shanghai to fund expansion, Reuters reported, citing the China Business News. Spring Airlines has hired UBS to help with the planned initial public offering (IPO) and has sent a ...

China Hongqiao to raise $2.2b in Hong Kong IPO

China Hongqiao Group Ltd is seeking up to HK$17.2 billion ($2.2 billion) in a Hong Kong initial public offering on Feb 11, Bloomberg reported. Shandong-based Hongqiao, an aluminum producer, is selling 1.74 billion shares at HK$7.10 to HK$9.90 apiece, according to Bloomberg. The ...

China's Tongfang to list unit in HK for expansion

Chinese computer maker Tsinghua Tongfang Co Ltd said on Monday that it planned to list its subsidiary Technovator in Hong Kong in the second half of 2011 to fund its international expansion. The move is part of Tsinghua Tongfang's strategy to realize gains in some of its ...

China Power New Energy sells $270m new shares

China Power New Energy Development Co Ltd said it planned to sell 2.8 billion new shares to China Yangtze Power Co, raising HK$2.1 billion ($270 million) to fund its investment in power generating projects. In a filing with the Hong Kong bourse over the weekend, China Power New ...

Beijing plans to build China's first design exchange

BEIJING - Beijing is planning to build China's first design exchange to offer a platform for design trading and boost the country's burgeoning creativity industry. "China enjoys a tremendous market for both manufacturing and consumption, and sees a growing demand for design ...

China still major market for Motorola after split

TIANJIN - China's importance for Motorola remains unchanged after the company split into two on Jan 4, the company said on Friday. Miao Yi, Motorola Mobility China Corporate's public relations manager, told Xinhua News Agency in a written interview that China remains Motorola ...

US firm to make recreational vehicles for China: Reports

LOS ANGELES - A recreational vehicle (RV) producer in Southern California plans to make thousands of RVs for export to China under an agreement to be signed soon, local media outlets reported Friday. MVP RV, a Riverside-based firm, will produce 10,000 Class A (self-powered, bus...

Central SOEs' 2010 net profit rises 40%

BEIJING - The net profit of China's centrally-administrated State-owned enterprises (SOEs) rose 40.2 percent year on year to 848.98 billion yuan ($128.95 billion) in 2010, China's State-owned enterprises watchdog said Friday. Revenue at the companies increased 32.1 percent year ...

Sinopec refines 13% more crude oil in 2010

BEIJING - China Petroleum and Chemical Corp (Sinopec), the nation's largest oil refiner, said on Friday that it processed 211 million tons of crude oil in 2010, up 13.2 percent year-on-year. The company produced 10.5 percent more diesel and 19.54 percent more kerosene to cope ...

CRP digs in to secure more coal assets

HONG KONG - China Resources Power Holdings Co (CRP) said it's seeking to buy a controlling stake in a coal-mining project in Shanxi province, for about 6 billion yuan ($910 million). Prices aren't final and the Hong Kong-listed power producer is still in talks on the potential ...

iPhone craze helps to boost China Unicom

A poster promoting the iPhone 4 at a China Unicom store. The Chinese operator's 3G user-numbers rose sharply partly due to the boost from the popular device made by Apple Inc. [Photo / China Daily] Telecom carrier says number of 3G users rose to more than 140 million BEIJING - ...

Cosmetics firm wants new foundation in China

Sales assistants help a customer at the Shiseido Co cosmetics counter at a department store in Beijing. Shiseido aims to boost overseas sales to 50 percent of its total by 2017, from an expected 42 percent this fiscal year. [Photo / Bloomberg] Japan's Shiseido aims to register 15 ...

Shanghai Construction starts restructuring

A worker at the site of future Walt Disney Co theme park in Shanghai. [Photo / Bloomberg] SHANGHAI - Shanghai Construction Group Co Ltd on Thursday suspended trading of its A shares in Shanghai to avoid large fluctuations in its share price, as its parent company Shanghai ...

McDonald's eyes growing presence in local market

SHANGHAI - A contemporary addition has joined Shanghai's traditional breakfast foods staples - McDonald's meals. Since the corporation entered the Shanghai market in 1994, the popularity of the Egg McMuffin and its ilk is catching up to the city's longstanding morning meal ...

China's Shouguang moves to list in HK

HONG KONG - China Shouguang Agricultural Product Logistic Park plans to apply to the Stock Exchange of Hong Kong in mid-February for a share listing, according to International Financing Review (IFR). In another listing, Oleg Deripaska-owned EuroSibEnergo, a leading Russian ...

China Minmetals aims to double profits by 2015

BEIJING - China Minmetals, the country's largest metals trader, on Thursday reported a record high performance in 2010, with revenue touching 255 billion yuan ($39 billion) and profits hitting 7 billion yuan, due to surging metal prices backed by strong economic growth. Zhou ...
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