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Shanghai Pudong Development Bank and Silicon Valley Bank of the U.S. plan to jointly set up a bank in China that will serve small- and medium-size technology companies.

Former Chairman of Baosteel Group Xie Qihua will become chairman of the new company and Liu Dongsheng, a senior SASAC official, will hold the post of president.

Pangang V&T will acquire 100 percent of stake in Anqian mining, Angang Hong Kong Holdings, and Angang’s Macao unit.

China Petrochemical Corp, parent of Sinopec Corp, has signed an agreement with U.S.-based Occidental Petroleum Corp. to acquire its Argentina unit’s oil and assets for 2.45 billion U.S. dollars.

ZTE has won a UMTS contract worth 850 million U.S. dollars with service provider Aircle in India to build and deploy its 3G network.

The Sao Paulo-based Vale said it would list about 652 million common shares and class A preferred shares on the financial hub’s bourse, making it the largest listed foreign company in non-financial sector.

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