China Mobile's acquisition of a 20 percent stake in Shanghai Pudong Development Bank for 39.8 billion yuan got preliminary approval from China Securities Regulation Commission.
The acquisitions will add more than 250,000 customers to its overall business, and create access to 7 billion U.S. dollars’ business opportunities annually.
China is expected to become a net exporter of auto vehicles during the 12th “Five-Year” plan (2010-2015).
Net profit for the first six months was 70.78 billion yuan while net interest income rose 14.96 percent to 117.8 billion yuan during the same period.
Chinese government yesterday has approved the initial public offering of Xinhuanet.com.cn, one of the ten official websites that plan to go public.
CNOOC appointed former CFO Yang Hua as new President; H1 net profit surged to 25.99 billion yuan for the first half.
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