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Baidu's Q2 profit beats estimates

Baidu Inc, operator of China's most popular online search engine, forecast sales growth that beat analysts' estimates. "We have been gaining traffic share gradually," Baidu Chief Executive Officer Robin Li said in a conference call today to discuss yesterday's second-quarter ...

BASF breaks ground for Shanghai innovation park

SHANGHAI - BASF, the world's leading chemical company, announced the groundbreaking for a new innovation technology park on Monday as it expands in China and the Asia-Pacific region. The new innovation park will open in the first half of 2012 in the Pudong New Area of Shanghai, ...

SAIC says on schedule to make, sell sedan in UK

GUANGZHOU - Top Chinese automaker SAIC Motor Corp Ltd is on schedule to manufacture and sell its MG 6 sedan in Britain in the first quarter of next year, Reuters reported Monday, citing the company's president. SAIC was still in discussion with General Motors Co to gain access to ...

Guangqi Honda plans Everus sales in 2011

GUANGZHOU - Guangqi Honda Automobile Co Ltd, a Chinese joint venture between Japan's Honda Motor and Guangzhou Automobile Group, will begin selling its Everus brand in the first half of 2011, Reuters reported Monday, citing the company's Executive Vice-President Yao Yiming. Yao ...

Guangzhou Auto to consider A-share listing in 2011

GUANGZHOU - Hong Kong-listed Guangzhou Automobile Group Co Ltd (GAC), China's No 6 domestic automaker, is considering an A-share listing next year, Reuters reported Monday, citing GAC's president. "We will consider listing A shares next year and this was one of our goals when we ...

Ping An buys HK$197m shares in Sino Oil & Gas

HONG KONG - Sino Oil and Gas Holdings Ltd said Ping An Insurance (Group) Co of China Ltd bought 4.8 percent of its enlarged share capital in a placement for HK$197 million ($25.4 million), Reuters reported Sunday. According to Siono Oil, Ping An bought 437 million new shares at ...

Volkswagen Group expects China sales to grow 10-15%

Volkswagen AG expects its group sales in China to grow 10 to 15 percent next year as the pace of growth slows in the world's biggest auto market, Bloomberg News reported Monday. "The total market next year looks pretty healthy for us," said Soh Weiming, the automaker's executive ...

Ford sees China's JV breaking selling record

GUANGZHOU - Ford Motor expects its China car venture to sell a record 305,000 Ford brand vehicles this year, up 32 percent from a year earlier, Reuters reported Sunday, citing a senior company executive. Sales of Ford models made at its China car venture are expected to grow at ...

AU Optronics to build $3b LCD project in Kunshan

TAIPEI - Taiwan authorities approved AU Optronics Corp's $3 billion project to make television and computer display panels on the Chinese mainland, in a bid to maintain the island's technology edge amid increasing competition from South Korea, the Associated Press reported Monday...

China Eastern says stake in China Cargo falls

HONG KONG - China Eastern Airlines Corp Ltd's stake in China Cargo Airlines will fall to 51 percent from 70 percent after a 1.6 billion yuan ($232.9 million) capital increase, according to Reuters' report on Sunday. China Cargo Airlines, which had total assets of 4.6 billion yuan ...

Citic Group to build 10,000 homes in Venezuela

Citic International Contracting Inc, a unit of China's State-owned Citic Group, will build 10,000 housing units on the site of a Caracas military base in Venezuela, Bloomberg News reported Sunday, citing Venezuelan President Hugo Chavez. Citic is to receive $400 million as a ...

JA Solar to expand capacity in 2011: CEO

JA Solar Holdings Co, a Chinese maker of solar cells and modules, plans to expand solar-cell production capacity by at least 30 percent next year, Bloomberg News reported Saturday, citing the company's chief executive officer Fang Peng. The Shanghai-based company has an annual ...

Sinochem agrees to buy DSM stake to form anti-infective JV

BEIJING - China's State-owned Sinochem Group announced it has reached a framework agreement Friday with the Netherlands-based Royal DSM NV to buy a 50-percent stake in DSM's anti-infectives unit. As part of the agreement, Sinochem will pay DSM NV 210 million euros ($280 million) ...

Datang Renewable debuts 1% below IPO price

HONG KONG - China Datang Corporation Renewable Power, China's second biggest wind farm operator, officially listed on the Hong Kong stock exchange on Friday, with share price opening at HK$2.3 (30 cents), down 1.29 percent from its IPO price. As a subsidiary of the State-owned ...

PetroChina's profit may drop as resource tax expands

PetroChina Co will "bear the brunt" of a resource tax that is being expanded to 12 western provinces, reducing the largest Chinese oil company's 2011 earnings by 2.5 percent, Bloomberg News reported Friday, citing China International Capital Corp (CICC). The effect on PetroChina...

Honda targets China sales of 730,000 units in 2011

TOKYO - Honda Motor Co said it will target sales in China of 730,000 units in 2011, for growth of more than 10 percent from the 650,000 estimated for this year, Reuters reported Friday. "We expect the overall (Chinese) market to grow by an average 10 percent," the report cited ...

Chongqing RCB declines on 1st day of HK trading

SHANGHAI - Chongqing Rural Commercial Bank Co fell on its first day of trading in Hong Kong, after raising HK$11.5 billion ($1.48 billion) in the city's fifth-largest initial public offering this year. The shares reversed earlier gains, declining 3.2 percent to HK$5.08 at the ...

China's Anshan Steel plans to acquire small rival

SHANGHAI - China's Anshan Steel Group plans to take over smaller rival Fujian Sangang Group in a further move to speed up the domestic steel sector's restructuring, Reuters reported Thursday, citing a filing to the exchange of Sangang's listed arm Sansteel Minguang. China has ...

Wuhan Steel lifts Jan price for steel products

SHANGHAI - Wuhan Steel, a leading Chinese steelmaker, will increase prices of its major steel products by 100-150 yuan ($15) per ton in January, indicating its positive outlook on demand, Reuters reported Friday. The country's third-largest steel mill will increase hot-rolled ...

Huawei seeks to secure a larger market share

BEIJING - Huawei Technologies Co Ltd, China's top telecom gear maker, aims to invest more than $2 billion in India over the next five years. The company will build a new research and development park in India's southern city of Bangalore and increase the number of engineers ...
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