Ping An Buys a Controlling 53.4Pct Stake in Shenzhen Development Bank
Ping An Insurance (Group0 Co., China’s second largest insurer, will merge its bank unit into Shenzhen Development Bank Co. in a deal valued at 29.1 billion yuan.
Taiwan's Far EasTone to invest $7Mln in Mainland IT Firm
Far EasTone Telecommunications Co.,plans to buy a 55 percent stake in a Beijing-based information technology firm for 7 million U.S. dollars, marking the first investment in Chinese mainland.
Rural Businesses Help Agricultural Bank of China Boost H1 Profit
Agricultural Bank of China said its pre-tax profit generated by rural businesses rose 81.9 percent from a year earlier, driven by the expansion of business scales and incremental loan-to-deposit ratio.
Foxconn Intl Loss Widens on Rising Costs
Foxconn International Holdings Ltd. said its first-half loss widened to 143 million U.S. dollars in the first six months.
China Mobile's Acquisition of a 20Pct Stake in SPDB Approved
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.
China's Alibaba Announces Purchase of U.S. Auctiva
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 to Become a Net Exporter of Auto Vehicles By 2015
China is expected to become a net exporter of auto vehicles during the 12th “Five-Year” plan (2010-2015).
China Construction Bank Reports Rising Half-Year Profit
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.
Xinhuanet's IPO Approved
Chinese government yesterday has approved the initial public offering of, one of the ten official websites that plan to go public.
CNOOC Appoints Yang Hua as CEO; Posts Strong Gains in H1
CNOOC appointed former CFO Yang Hua as new President; H1 net profit surged to 25.99 billion yuan for the first half.
China's Solar Photo-Thermal Market Rising
The volume of China’s solar photo-thermal market will reach 22.5 – 30 trillion yuan by 2020.
Everbright Bank Soars on Debut in Shanghai
China Everbright Bank soared on its Shanghai stock market debut Wednesday in the mainland’s second-largest initial public offering that hopes to raise 18.9 billion yuan.
China Angang Steel H1 Net Profit Rises 276Pct
China’s leading steelmaker Angang Steel Co., (000898.SZ/00347.HK) said Tuesday its net profit for the first half year rose 275.94 percent to 2.75 billion yuan from a year earlier
Wall Street Wants to Sell GM Initial Shares
The initial public offering of GM, has generated tremendous excitement on Wall Street, one year after the U.S. manufacture filed for bankruptcy.
China Southern Airline H1 Net Profit Rose 53-Fold
China Southern Airlines posted a net profit of 2.076 billion yuan, a gain of 5363 percent, boosted by strong demand for air travel.
ICBC to Issue $25Bln CBs on June 18
The ICBC plans to issue $25 billion A-share CBs and raise up to 45 billion yuan via a rights issue in Shanghai and Hong Kong.
World Oil Demand Rises to 85.91Mln bpd This Year: EIA
World oil demand is expected to rise 1.57 million bpd this year to 85.91 million bpd.
China Huaxia Bank H1 Profit Surges 80.6Pct
Huaxia Bank Co., (600015.SH) has posted an 80.57 percent year-on-year increase in its first half net profit of 3.008 billion yuan.
Sohu, Alibaba Reach Agreement on Sogou's Search Engine
The restructuring of Sogou by introducing strategic investors including Alibaba will help the Chinese search engine to expand its market shares.
Volve to Compete with Mercede-Benz,BMW: Li Shufu
As the new owner of Volvo, Geely said it would move Volve upmarket and offer a competitor to the BMW 7 Series and Mercedes-Benz S-Class.
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