- Chinese Banks Report Net Profits
Net profits for Agricultural Bank of China, Industrial and Commercial Bank of China, China Construction Bank, and Shanghai Pudong Development Bank grew 46 percent, 28 percent, 26.3 percent, and 45.10 percent respectively in 2010.
- Qihoo to Issue 12.1Mln ADSs in IPO
Qihoo 360 plans to issue 12.1 million American Depositary shares (ADS), after the security software maker’s initial public offering of up to 151 million U.S. dollars is three times oversubscribed.
- Zhang Dazhong to Replace Chen Xiao as Gome CEO
Gome’s chairman Chen Xiao will be leaving his post and Zhang Dadazong will take helm at Gome after his departure, sources said. An official statement is expected to be released today.
- China's State Web to go Public in June
People.com.cn, the online news portal of the official organ newspaper, The People’s Daily, is eyeing an initial public offering (IPO) as early as in June.
- Alibaba to Make $1.7Mln in Compensation to Fraud Victims
China’s biggest electronic-commerce company said today it will pay 1.7 million U.S. dollars in compensation to more than 2,200 victims in the latest supplier frauds that prompted the chief executive officer to quit.