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Prada aiming to bag $2.6 billion in HK IPO

Prada SpA's initial public offering in Hong Kong is poised to raise as much as $2.6 billion, according to a person with knowledge of the matter. The Milan-based company set a price range of HK$36.50 ($4.69) to HK$48 per share, said the person, who declined to be identified ...

Home appliance sales to rural areas from January to May over 100bln yuan

Sales of home appliances to rural areas From January to May 2011 totaled 45.23 million units, hitting 109.5 billion yuan, up by 71% and 103% year on year respectively, said the Ministry of Commerce on its website on Tuesday. In May, a total of 5.78 million units were sold to ...

Mainland bans tainted drinks, food from Taiwan

Chinese mainland authorities announced Wednesday that it will suspend imports of beverages and food products and food additives produced by Taiwan companies suspected of using DEHP, starting from June 1. Taiwan food and drink products are required to produce a DEHP-free ...

China steps up import ban on DEHP-tainted products

Chinese mainland's quality authorities has stepped up its ban on imports of products from Taiwan that had been contaminated by an industrial chemical used to soften plastic products. In its latest update on the import ban posted on its website, the General Administration of ...

Developers consolidate amid tightening

The number and value of mergers and acquisitions (M&A) in China's real estate sector reached a record high in the first quarter of 2011, amid the government's continuous tightening policies to tame inflation and sky-rocketing housing prices. A total of 32 M&As were completed ...

Starbucks consolidates China branches

Starbucks has taken full control of more than half of its Chinese branches, part of the caf giant's plan to triple its mainland stores as affluent consumers' thirst for coffee keeps growing, the company said on Thursday. The world's largest caf operator acquired more than 100 ...

Imported purifiers in health risk

Popular imported water purifiers produced water containing excessive levels of arsenic and colonies of bacteria, the Ministry of Health has said. Eleven products of eight brands, including Panasonic, Mitsubishi and 3M products, were found to produce excess levels of arsenic. Most ...

DEHP-tainted food products from Taiwan banned in mainland restaurants

The Chinese mainland has banned its restaurants from selling or using beverages, food products and food additives from Taiwan, which are suspected to have been tainted with a cancer-causing plastic additive. The State Food and Drug Administration (SFDA) issued an urgent notice ...

Developers consolidate amid tightening

The number and value of mergers and acquisitions (M&A) in China's real estate sector reached a record high in the first quarter of 2011, amid the government's continuous tightening policies to tame inflation and sky-rocketing housing prices. A total of 32 M&As were completed ...

Price rises hit home buying

Random price increases by owners of existing homes have dampened local buying momentum in May, with some areas in Shanghai suffering a double-digit drop in sales, two of the city's largest estate agencies reported yesterday. Across the city, the used housing market seemed largely ...

Chinese mainland suspends imports of tainted Taiwan drinks

The Chinese mainland announced on Wednesday that as of June 1, it will suspend imports of beverages, food products and food additives from Taiwan that are produced by companies suspected of using a cancer-causing plastic additive. The General Administration of Quality Supervision...

Tainted Taiwan drinks spread to mainland

The DEHP contamination scandal in Taiwan has spread across the Straits and started to affect the mainland market, as about 500-600 cases of tainted asparagus juice produced by Uni-President of Taiwan had been imported to the Chinese mainland. The asparagus juice products were ...

China's January-April insurance premiums hit 570.8 bln yuan

The combined value of China's insurance premiums rose to 570.8 billion yuan (about 87.8 billion U.S. dollars) in the first four months of this year, up 109.08 yuan from the figure in the January-March period, the China Insurance Regulatory Commission (CIRC) said Monday. The total ...

Home Inns acquires Motel 168

Home Inns & Hotels Management Inc, China's biggest budget hotel chain by number of rooms, announced Friday it had bought Motel 168 International Holdings Limited for $470 million. The payment includes $305 million in cash and 8.15 million Home Inns ordinary shares at a price ...

China secures bumper summer grain harvest

China will reap a bumper harvest of wheat and rapeseed this summer, Minister of Agriculture Han Changfu said on Monday. The message came amid the worst drought to hit the middle and lower reaches of the Yangtze River in more than 60 years--areas that are key production areas for ...

China's home appliance retail sales slow in April

China's biggest home appliance retailers reported slower growth in April, with a year-on-year increase of 18.5 percent, according to the Ministry of Industry and Information Technology (MIIT). The growth rate for April was 17.9 percentage points lower than the growth rate posted ...

Shanghai home supply set to tumble 39% in June

The number of residential projects to be released in Shanghai next month is set to fall 39 percent from this month, with most of the supply being developments in outlying areas. A total of 37 projects - 29 apartment developments, seven villa projects and one mixed development - ...

China to auction 250,000 tonnes of sugar reserves

China will auction 250,000 tonnes of sugar from state reserves on May 31, with the starting price set at 4,000 yuan (about 615 U.S. dollars) per tonne, the country's Ministry of Commerce announced Friday. It will be the government's fifth auction of reserve sugar produced during ...

Gome revenue up by 16% in first quarter

China's second-largest home appliance distributor Gome Electrical Appliances Holdings Ltd released its financial results for the first quarter of 2011 Thursday, with revenue reaching 13.68 billion yuan ($2.11 billion), up 16.08 percent compared with the same period last year. ...

Langham focuses on key China properties

The Hong Kong-based hotelier Langham Hospitality Group (LHG) is strengthening expansion plans in China through its management expertise in the scheduled opening of 50 new hotels in the next five years, targeting the luxury to mid-end range, a top company executive said. "China is ...
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china

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industry

Super car club in commercial drive
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On the night of Nov 11, more than 150 super cars were driven into the ...
Chinese steelmakers see profits plunge
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sports

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Li Na wins French Open women's singles title
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