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Esprit to buy JV stake from China Resources for $500m

Fashion retailer Esprit Holdings will buy the 51 percent stake it does not already own in a retail joint venture with China Resources Enterprise for HK$3.88 billion ($500.6 million), according to a Hong Kong stock exchange filing. The deal will see Espirit take full control of ...

CISA urges unified opposition to BHP-Rio JV

Every country should unite in opposition to a "monopolistic" production joint venture between the Australian mining giants BHP Billiton and Rio Tinto, China's steel industry association said on Thursday. The China Iron and Steel Association (CISA) said in an announcement ...

Fine looms for property management company

An unlicensed Beijing branch of a US property management company could be fined as much as 200,000 yuan ($29,291.15), a local government department said. Pinnacle Realty Management International, which has looked after 1,400 households in the east district of Jian Wai SOHO since ...

Pfizer on a rural mission

Pfizer Inc, the world's largest drugmaker, is doubling its presence in China over the next three years and intends to make its products more accessible to people in rural areas. The company plans to expand its presence from 180 to over 360 cities by 2012, said E Allan Gabor, ...

Unilever China sales to grow 15% this year: exec

Consumer goods company Unilever's annual China sales have reached 1 billion euros ($1.46 billion) and annual growth is expected to be at least 15 percent, fuelled by rising affluence in the world's third-largest economy, a top executive said on Wednesday. "I'm not doing a good ...

Beverage executives jailed for stealing from employee fund

Three former executives of China's once biggest beverage maker, Jianlibao Group, have been jailed for stealing from the staff welfare fund, said a court official in south China's Guangdong province on Tuesday. A spokesman of the Intermediate People's Court of Foshan city said ...

Vale charts big plans for China

Brazilian mining company Vale SA has signed independent ore contracts with Chinese steel mills for fixed freight charges to further expand its presence in the mainland, ahead of next year's benchmark iron ore pricing negotiations. Some Chinese companies are believed to have ...

Pfizer, Takeda to promote diabetes drug in China

Pfizer Inc, the world's largest drugmaker, and Osaka-based Takeda Pharmaceutical Co Ltd said on Tuesday they have signed an agreement to jointly promote and sell Takeda's diabetes drug in China. The agreement allows Takeda, Japan's biggest drugmaker, to increase the number of ...

S Korea's STX to launch holding company in China

South Korean business conglomerate STX Group said Tuesday it plans to set up a holding company in northeastern China's Dalian city to control its three Chinese units. The Chinese holding firm, tentatively named "STX Dalian Investment Co" will be launched to control STX-Dalian ...

Central SOEs expect 750b yuan in annual profits

China's centrally-administered State-owned enterprises (SOEs) are expected to reap 750 billion yuan ($110.29 billion) in profits this year as their business operations improve, the state assets watchdog announced Monday. In the first 11 months, the 131 SOEs saw a 3.4 percent year...

Airlines weather downturn

Chinese airlines have weathered the financial maelstrom without too much turbulence, with the latest statistics indicating a profitable year for the air transport industry. By November, the industry, including both airlines and airports, netted total profit of 11.8 billion yuan (...

Popular Chinese download website reopens as rivals hit by crackdown

A leading BitTorrent (BT) website in China offering free movie and music downloads resumed service Thursday afternoon, a day after it went offline amid fears the authorities had closed it down in a crackdown on online piracy and pornography. Operators put a notice on the website ...

CNR to issue 3b A shares in Shanghai IPO

China CNR Corporation Ltd (CNR), the country's top train maker by market share, said yesterday that it planned to issue up to 3 billion A shares in an initial public offering (IPO) in Shanghai to raise 6.44 billion yuan for investment projects. The Beijing-based company said it ...

CCB plans $2.9b sub bond issue

China Construction Bank Corp (CCB), the country's second largest lender, plans to sell 20 billion yuan ($2.9 billion) of subordinated bonds by year-end to replenish capital, according to a person familiar with the matter. The Beijing-based bank hasn't decided on the final date ...

Mosaic for early deal on potash

Mosaic Co, North America's second-largest fertilizer maker, expects China will agree within weeks to buy potash from European producers for less than $400 a ton. "We think it's imminent - if it's not before Christmas, it's going to be shortly after the new calendar year," Mosaic ...

Taiping strives to integrate its non-life insurers

China Taiping Insurance Group Co, the country's fourth largest insurance group, is trying to integrate its two non-life insurance subsidiaries after Ming An (Holdings) Co Ltd was delisted from the Hong Kong bourse last month, the group's top management said in an interview. "Ming ...

Safe online shopping platform to be launched

Software maker Jinshan will join Taobao, a leading online trading platform in China, and Maxthon Browser to build a secure online shopping platform, the Beijing Times reported on Wednesday. Efforts will be made in fighting entrapment websites, inventing proactive web pages and ...

GM in talks on partial Saab sale to BAIC

General Motors Co is talking to BAIC, China's fifth largest car maker, about a partial sale of assets associated with its Saab brand, including tooling and technology, two people with direct knowledge of the discussions said. Beijing Automotive Industry Holding Group has made it ...

Compensation lawsuit over tainted milk postponed

The country's first trial for civil compensation targeting tainted-milk producer Sanlu will not go ahead as scheduled today. Ma Xuexin, whose 20-month-old son suffered from a kidney stone because of the melamine-tainted milk, has accused bankrupt Sanlu Group and the Longhua ...

Moutai to raise price by 13% next year

Kweichow Moutai Co plans to raise the price of its liquor by an average of 13 percent starting Jan 1 because the cost of raw materials increased, the company said in a statement issued Dec 7. The wholesale price for 53% (V/V) is to rise more than 60 yuan ($8.78) to about 563 yuan ...
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China slams Japan's NHK governor's denial of Nanjing massacre
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China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
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IMF chief warns of risks to recovery
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GM China chairman to retire
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industry

Minivans rev up sales for GM
Minivans rev up sales for GM
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Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
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Chinese leader calls for more marine power
Chinese leader calls for more marine power
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Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Yao's gift of sport for all
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Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...
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