The China Report: Macro Monthly

Thu, 11 Mar 2010 12:41:42 GMT

Rumor: Alibaba.com Signs Up eBay's PayPal to Support Ali Express

Thu, 11 Mar 2010 10:30:12 GMT

An unnamed source says that business-to-business e-commerce site Alibaba.com (1688.HK) CEO David Wei has contacted eBay (Nasdaq:EBAY) about using eBay's online payment tool PayPal for Ali Express, a B2B platform for international customers, reports qq.com. After reaching a preliminary agreement,...

NBS Data: China Economy Accelerates in Feb

Thu, 11 Mar 2010 10:29:03 GMT

China's consumer price index (CPI) rose 2.7% in February, representing a 1.2 percentage point increase in growth rate from January, according to data announced March 11 by the National Bureau of Statistics. Food prices, which account for a third of the index weighting, rose by 6.2%, while non-food prices...

ReneSola Records $20m Q4 Loss, Expects Profitable Q1

Thu, 11 Mar 2010 10:18:31 GMT

Solar wafer manufacturer ReneSola Ltd (NYSE:SOL, AIM:SOLA) reported a fourth quarter net loss attributable to owners of ordinary shares of $19.9 million, or $0.12 diluted loss per share, compared to net losses of $128.3 million in the fourth quarter of last year and $10.2 million in the...

Trina Signs 25MW Contract With Sonepar USA

Thu, 11 Mar 2010 10:17:41 GMT

Trina Solar's (NYSE:TSL) subsidiary, Changzhou Trina Solar Energy, has signed an agreement to supply 25MW of photovoltaic modules in 2010 to Sonepar USA's southwest US company Essco Wholesale Electric, Trina announced March 10. The agreement gives Essco the option to purchase an additional 4MW....

Ctrip Introduces Price Matching for Hotel Bookings

Thu, 11 Mar 2010 10:15:40 GMT

Online travel services provider Ctrip.com International (Nasdaq:CTRP) has started a best price guarantee promotion for its hotel booking service, according to an announcement on the company's website. The company is offering compensation worth three times the difference to customers who find lower...

Ping An P&C to Issue RMB 3.5b in Sub Bonds

Thu, 11 Mar 2010 10:12:04 GMT

Ping An Insurance (Group) (2318.HK, 601318.SH) subsidiary Ping An Property & Casualty Insurance Company plans to issue up to RMB 3.5 billion worth of 10-year directional subordinated bonds in up to four phases, 21st Century Business Herald reported citing a related subscription prospectus. Ping...

Agricultural Bank Records 26% Rise in '09 Profit

Thu, 11 Mar 2010 10:10:51 GMT

China's largest private lender, Agricultural Bank of China (ABC), saw net profit rise 26.3% annually to RMB 65 billion in 2009, China Daily reported March 11. ABC's capital adequacy and bad-loan ratio stood at 10.07% and 2.91%, respectively, by the end of 2009, while the provision ratio for bad loans...

Changyou Launches 9 Promos for "Dahua Shuihu" OB

Thu, 11 Mar 2010 10:10:28 GMT

Sohu's (Nasdaq:SOHU) online game subsidiary Changyou (Nasdaq:CYOU) has prepared nine promotional activities between March 18 and April 12 for the open beta testing of its licensed Q-style turn-based 2D MMORPG Dahua Shuihu, which will begin on March 18, according to a posting on the...

Gemdale Rev Drop 52% in First 2 Months

Thu, 11 Mar 2010 10:10:17 GMT

Shenzhen-based real estate developer Gemdale (600383.SH) made RMB 806 million in the first two months of 2010 from the sale of 74,100 square meters of property, representing decreases of 52% and 58.6% year-on-year, respectively, the company announced March 10. Gemdale's

DHgate CEO: Series C Funding Complete

Thu, 11 Mar 2010 10:06:56 GMT

Business-to-business (B2B) e-commerce site DHgate.com has completed third-round funding in the amount of tens of millions of US dollars, reports Sina quoting DHgate.com CEO Diane Wang. An unnamed source said that DHgate.com received the investment before Chinese New Year (February 13-19, 2010), and that...

China Mobile CEO: No Further SPDB Stake Buys

Thu, 11 Mar 2010 10:06:55 GMT

Following its acquisition of 20% stake in Shanghai Pudong Development Bank (SPDB) (600000.SH), China Mobile (NYSE:CHL, 0941.HK) has no plans to further increase its holdings in SPDB or become its controlling shareholder, China Mobile Chairman and CEO Wang Jianzhou told Hong Kong media in...

Ku6.com Spins Off New Movie/TV Site

Thu, 11 Mar 2010 10:05:23 GMT

Video site Ku6.com announced March 11 that it plans to focus on video sharing, while its new site, "Ku6 Theater," will host films, TV series and longer video content at juchang.com, reports 163.com. Ku6.com said in December that it planned to

360buy Completes Acquisition of SK Telecom's Qianxun

Thu, 11 Mar 2010 10:04:28 GMT

Business-to-consumer IT e-commerce site 360buy.com announced March 11 that it has completed the acquisition of SK Telecom's (NYSE:SKM, 017670.SEO) Beijing-based business-to-consumer shopping site Qianxun.com, reports Sohu. 360buy.com did not reveal the price of the acquisition, but a company insider...

TCL Group, Subs Report Mixed '09 Results

Thu, 11 Mar 2010 10:02:27 GMT

Electronics manufacturer TCL Group (000100.SZ) generated revenue of RMB 44.3 billion in 2009, up 15.29% year-on-year, the company announced March 11. Net profits excluding minority interests totaled RMB 470.07 million in the same period, down 6.19% year-on-year. TCL Group subsidiary TCL Communication...

Bank of China Plans H Share Issue

Thu, 11 Mar 2010 10:02:13 GMT

Bank of China (BoC) (3988.HK,601988.SH) Chairman Xiao Gang said March 11 that the bank wants to issue a follow-on offering of H shares, equal to 20% of its existing H share capital, Sina reports. BoC does not yet have a detailed timetable for the recapitalization, but it hopes to get regulatory...

MLR: Land Bids Require 20% Deposit

Thu, 11 Mar 2010 10:01:55 GMT

The Ministry of Land and Resources (MLR) issued a notice March 10 requiring real estate developers participating in land auctions to pay a deposit equal to 20% of a land parcel's floor price, Sina reports. The circular also said that developers must make a 50% down payment for a land purchase within...

Employee: ZQ Game Plans RMB 524m R&D Base

Thu, 11 Mar 2010 10:01:42 GMT

An unnamed employee of PowerLeader (8236.HK) subsidiary Shenzhen ZQ Game Technology (Zhongqingbao Network) (300052.SZ) said that the company plans to invest a total of RMB 524 million to construct an online game R&D base in Nanjing, Jiangsu province covering 100,000 square meters and holding...

Linekong Signs Taiwan Operator for "Journey to the West"

Thu, 11 Mar 2010 10:01:18 GMT

Beijing-based online game company Linekong signed an agreement March 11 to license its in-house developed 2D Chinese fantasy MMORPG Journey to the West ("Xi You Ji") to Taiwan-based Wayi International Digital Entertainment for operation in Hong Kong, Taiwan and Macao, reports qq.com. Wayi International...

Hang Seng Flat, Mainland Banks Drag on Inflationary Fears

Thu, 11 Mar 2010 10:00:38 GMT

The Hang Seng Index rose 0.09% to close at 21,228.2 on Thursday, March 11, while main board trading volume increased to HK$57.3 billion. Mainland companies weighed, with Hang Seng's China Enterprises Index falling 0.39%. Banks, especially those in the mainland, underperformed, after China reported...

A-Shares Mixed as Investors Puzzle CPI Data

Thu, 11 Mar 2010 10:00:13 GMT

The Shanghai Composite Index increased 0.08% to close at 3,051.28, while the Shenzhen Composite Index fell 0.12% to end at 1,163.46 on Thursday, March 11. Trading volume on the Shanghai and Shenzhen Stock Exchanges were RMB 96.19 billion and RMB 67.58 billion, respectively. Domestic markets were...

Qunar.com Shows Air Prices Alongside Rail Info

Thu, 11 Mar 2010 09:32:12 GMT

Beijing-based travel search engine Qunar.com has begun displaying low-cost air ticket prices in its results page for rail route information searches, Hangzhou.com.cn reported March 11. Qunar.com released its train travel information channel on

LBX Pharmacy to List in A-Share Market in 2012

Thu, 11 Mar 2010 09:18:24 GMT

Hunan-based LBX Pharmacy plans to apply for permission to issue an initial public offering at the end of 2011 and expects to list on a domestic market in 2012, 163.com reported citing company Chairman Xie Zilong. Before then, the company will spend 60% of its $82 million venture fund on acquisitions...

Real Estate Weekly - March 11, 2010

Thu, 11 Mar 2010 08:57:40 GMT

Enfinity China Locates 10MW Solar Project in Ningxia

Thu, 11 Mar 2010 06:07:03 GMT

Belgium-based Enfinity NV's wholly-owned subsidiary, Hong Kong-based Enfinity China, has chosen Shizuishan, Ningxia province, as the location for a 10MW on-grid photovoltaic project with investment of $71.42 million, reported solarbe.com March 11. Enfinity has signed a contract to purchase 50MW of...

PBoC: Feb Loan Volume Half Jan Level

Wed, 10 Mar 2010 22:45:17 GMT

China recorded RMB 700.1 billion in new RMB-denominated loans in February, a decrease of RMB 371.4 billion from the comparable period last year, the People's Bank of China (PBoC) announced March 11. Chinese banks reported taking total deposits of RMB 958.9 billion in the month, according to the report. M2,...

Changyou to Test "TLBB" Expansion in April

Wed, 10 Mar 2010 10:20:56 GMT

Sohu's (Nasdaq:SOHU) online gaming subsidiary Changyou.com (Nasdaq:CYOU) plans to start testing for "Tian Long Ba Bu 2," an expansion pack for its in-house developed 2.5D martial arts MMORPG Tian Long Ba Bu, in April, reports 17173.com on March 10. The company

China Mobile Files for Pudong Bank Buy

Wed, 10 Mar 2010 10:20:54 GMT

China Mobile's (NYSE:CHL, 0941.HK) Guangdong subsidiary entered into an agreement to purchase 20% stake in Shanghai Pudong Development Bank (600000.SH) for consideration of RMB 39.8 billion (HK$45.26 billion), China Mobile announced March 10. Under the agreement, Guangdong Mobile will purchase...

Renesola Shuffles Management, Names New CFO

Wed, 10 Mar 2010 10:15:34 GMT

Solar wafer manufacturer Renesola Ltd. (NYSE:SOL, AIM:SOLA) announced a series of management appointments on March 10, including the appointment of company Chief Financial Officer Charles Bai as chief strategy officer, and the promotion of Julia Xu, ReneSola's vice president of international...

CR Land Plans Greater Role for Commercial Projects

Wed, 10 Mar 2010 10:13:37 GMT

Hong Kong-based developer China Resources Land (1109.HK) will invest RMB 30 billion on 6 commercial projects, with priority on retail projects, over the next few years, guandian.cn reported March 10 citing company chairman Wang Yin. Wang said the company aims to raise the proportion of profits...

Carrefour China Sales Climb 16% in 2009

Wed, 10 Mar 2010 10:12:21 GMT

Carrefour's (EPA:CA) China sales rose 16% year-on-year in 2009, 163.com reported citing Carrefour China President Eric Legros. Carrefour opened 22 new stores in China last year, bringing its total number of stores in China to 157, said the report. The company aims to expand its Shanghai stores...

Rumor: Taobao to Merge Wireless Depts, Form WASU JV

Wed, 10 Mar 2010 10:11:30 GMT

Hangzhou-based e-commerce company Alibaba Group has established a wireless department as part of a "Big Taobao" plan integrating wireless departments in Alibaba's consumer-focused e-commerce site Taobao.com, Alibaba's online payment tool Alipay and Alibaba's consumer information portal Koubei.com, 163.com...

Geely: Chinese New Year Drives Down Feb Car Sales

Wed, 10 Mar 2010 10:10:40 GMT

Geely Automobile Holdings (0175.HK) sold 28,712 automobiles in February, up 54.2% year-on-year but down roughly 35% month-on-month, the company announced March 9. Geely attributed the month-on-month decrease to fewer working days in February, as a result of the February 13-19 Chinese New Year....

China Trade Maintains 45% YoY Growth in Feb

Wed, 10 Mar 2010 10:10:04 GMT

The combined value of China's imports and exports rose 45.2% year-on-year and fell 11.5% month-on-month in February to reach $181.43 billion, according to data released March 10 by the General Administration of Customs. The country exported goods worth $94.52 billion in February, up 45.7% year-on-year...

Rumor: CITIC, Shimao Property Join Asia Games Project

Wed, 10 Mar 2010 10:09:46 GMT

CITIC Real Estate and Shimao Property (0813.HK) have joined a consortium of developers led by R&F Properties (2777.HK) on the 2.64 million-square-meter "Asian Games Town" project surrounding the 2010 Guangzhou Asian Games site, China Business News reported March 10 citing an unnamed CITIC...

China's Old-for-New Subsidy Program Sales Hit RMB 30b

Wed, 10 Mar 2010 10:08:06 GMT

China's "old-for-new" subsidy program had generated revenues of RMB 30.02 billion from the sale of 7.59 million new household appliances as of March 8, 163.com reports citing data released by the Ministry of Commerce. In January and February 2010, the subsidy program's sales volume grew 71.3% compared...

BoC, ICBC: No A-Shares Fundraising Planned

Wed, 10 Mar 2010 10:03:27 GMT

Bank of China (BoC) (3988.HK, 601988.SH) has no plans to raise capital through a mainland equities markets for at least two years, but may still use the H-shares market to raise funds, China Business News reported March 10 citing BoC Chairman Xiao Gang. Xiao said the bank expects to account for...

COLI Eyes Everbright Land Bank

Wed, 10 Mar 2010 10:03:12 GMT

China Overseas Land & Investment (0688.HK) will acquire Everbright Real Estate's 1.7 million-square-meter land reserves through its recent acquisition of Everbright stakeholder Shell Electric Manufacturing (Holdings) (0081.HK), hexun.com reports March 10. The transfer procedure will begin...

Auto Manufacturing and Sales Growth Slows in Feb

Wed, 10 Mar 2010 10:02:30 GMT

In February, 1.206 million automobiles were manufactured in China, up 49.1% year-on-year but down 25.3% month-on-month, while 1.212 million automobiles were sold, up 46.3% year-on-year but down 27.2% month-on-month, according to data released by China Association of Automobile Manufacturers on March...

A-Shares Drop as Investors Bank Gains

Wed, 10 Mar 2010 10:00:32 GMT

The Shanghai Composite Index fell 0.66% to close at 3,048.93, while the Shenzhen Composite Index dropped 1.04% to end at 1,164.91 on Wednesday, March 10. Trading volume on the Shanghai and Shenzhen Stock Exchanges were RMB 98.74 billion and RMB 71.93 billion, respectively. Real estate and construction...

H-Shares Flat; Cathay, CITIC Soar on Earnings

Wed, 10 Mar 2010 10:00:10 GMT

The Hang Seng Index fell for the first time in four days on Wednesday, March 10, dipping 0.16% to close at 21,173.59. Main board trading volume was HK$47.36 billion. Earnings announcements from several large-cap companies fueled Wednesday trades. Shares of infrastructure-related conglomerate CITIC...

Changyou Starts SNS OB

Wed, 10 Mar 2010 09:59:22 GMT

Sohu's (Nasdaq:SOHU) online gaming subsidiary Changyou.com (Nasdaq:CYOU) has started open beta testing of its social networking services (SNS) site cyou.com, Beijing Business Today reported March 10. The site features similar content as other SNS sites, such as Kaixin001.com and Renren.com,...

E-House Q4 Income Grows 370% YoY, Rev Up 200%

Wed, 10 Mar 2010 09:59:21 GMT

Shanghai-based real estate services company E-House (China) (NYSE:EJ) reported a year-on-year expansion of 372% in fourth quarter 2009 net income to $38.95 million, or $0.49 per diluted ADS, according to a company announcement on March 10. E-House reported total revenues in the quarter increased 201%...

The9 to Release Next "WoF" Version

Wed, 10 Mar 2010 09:57:33 GMT

The9 (Nasdaq:NCTY) plans to launch a new version, "Sishen Huanjing," for its in-house developed 2D Three Kingdoms-themed side-scrolling fighting casual game World of Fight ("Ming Jiang San Guo") on March 11, according to the game's official site. The company will add new playing modes,...

360buy Receives RMB 500m in Govt. Soft Loans

Wed, 10 Mar 2010 09:55:46 GMT

Business-to-consumer IT e-commerce site 360buy.com has received RMB 500 million in government-subsidized loans and plans to spend between RMB 2 billion and RMB 3 billion on building up logistics centers in the coming three years, 163.com reported March 10 quoting 360buy.com Chairman and CEO Liu Qiangdong....

Baidu Youa GM Resigns, Union Director Takes Over

Wed, 10 Mar 2010 09:53:32 GMT

Baidu (Nasdaq:BIDU) consumer-focused e-commerce site Youa.com's general manager, Li Mingyuan, has tendered his resignation citing personal grounds and will be replaced by Cai Hu, director of Baidu's advertising alliance Baidu Union, 163.com reported March 10 citing Baidu PR. Cai's previous post...

Xunlei: Game Co-Ops Bring in 40% of '09 Rev

Wed, 10 Mar 2010 09:52:45 GMT

Shenzhen-based download software provider Xunlei made RMB 100 million, or 40% in its total revenue, from co-operating games in 2009, qq.com reported March 10. The company also officially announced that it has gained the exclusive operating licensed for martial arts MMORPG Xian Jian Shen Qu Online,...

Delixi Confirms Investment in Shanghai Game Co Uqu

Wed, 10 Mar 2010 09:25:27 GMT

Delixi, a privately-owned manufacturer of electric power transmission and distribution appliances, has invested in game company Uqu Games (Shanghai Youqu Network Technology), company Secretary Lu Youzhong confirmed on March 9, according to a report from ChinaVenture. Previous rumors said that Delixi...

AVIC Plans RMB 3.3b Investment in Clean Energy

Wed, 10 Mar 2010 08:53:11 GMT

China Aviation Industry Corporation (AVIC) Heavy Machinery (600765.SH) subsidiary AVIC Industrial New Energy Investment has signed with Da'an municipal government, in Jilin province to invest RMB 3.3 billion in new energy projects, solarbe.com reported March 9. Among the projects, the company...

Reports: Suning's Laox Delays First China Store

Wed, 10 Mar 2010 08:22:49 GMT

Japanese retailer Laox (8202.TYO), an investment target of Chinese home appliances and electronics retailer Suning (002024.SZ), has delayed the opening of its first store in China from an unspecified date in March to sometime around June, cheaa.com reported citing unnamed Japanese media....

Sequoia Invests RMB 30m in Medical Training Site

Wed, 10 Mar 2010 08:18:19 GMT

Long-distance medical education training site 91huayi.com announced that it has received an investment of RMB 30 million from Sequoia Capital, 163.com reported March 10. The funding will go to improving the site's professional training system for doctors nationwide, as well as help the site enter the...

Expo Triggers Rise in Hotel Prices, Booking Volumes

Wed, 10 Mar 2010 08:16:12 GMT

Shanghai's five-star hotels are raising room prices to between RMB 1,500 to RMB 1,800 per night during the 2010 Shanghai Expo, to be held between May and October, an increase of over 20% compared with 2009 room prices, China Economic Weekly reported based on an investigation of five-star hotels including...

China Customs: Feb Iron Ore Imports Up 5.6% Y-o-y

Wed, 10 Mar 2010 07:35:42 GMT

China imported 49.38 million tons of iron ore in February, up 5.6% year-on-year, according to data released by the General Administration of Customs March 10. February iron ore imports were 5.9% higher than in January, the data said.

State Grid Partners with Canadian Company Quadra to Operate Copper Mines in Chile

Wed, 10 Mar 2010 07:27:10 GMT

Canada's Quadra Mining (QUA:TSX) has signed a memorandum of understanding with State Grid International Development Limited (SGID), a wholly owned subsidiary of China's largest utility, State Grid Corporation of China, to set a joint venture to develop and operate Quadra's Sierra Gorda project...

China WindPower 9Mth Profits Double YoY

Wed, 10 Mar 2010 03:14:32 GMT

China WindPower Group (0182.HK) reported profits for the nine months ended December 31, 2009 stood at HK$181.24 million, up 107% year-on-year, according to a company announcement dated March 8. The company booked revenue of HK$562.60 million from its wind power business in the nine months, representing...

Solar Industry Weekly Update - March 9, 2010

Tue, 09 Mar 2010 12:12:28 GMT

The China Report: Agricultural Commodities Update

Tue, 09 Mar 2010 10:36:31 GMT

Yingli Q4 Shipments Jump, Bottom Line Red

Tue, 09 Mar 2010 10:31:04 GMT

Photovoltaic (PV) products manufacturer Yingli Green Energy (NYSE:YGE) booked total revenues of RMB 2.53 billion ($370.8 million) in the fourth quarter of 2009, up 13.7% quarter-on-quarter and 43.7% year-on-year, with PV module shipments up 15.7% sequentially, the company reported March 9. Gross...

PBoC: Status Quo for Real Estate in Near-Term

Tue, 09 Mar 2010 10:21:24 GMT

People's Bank of China (PBoC) Vice Governor Su Ning said that the country has no new plans to regulate the Chinese real estate market at present, but that the government will tighten its monitoring of regional financing platforms this year, guandian.cn reported March 9. According to Su, excessively fast...

GAPP: Not Yet Received NetEase's "WLK" Application

Tue, 09 Mar 2010 10:20:07 GMT

The General Administration of Press and Publications (GAPP) said on its site on March 9 in response to public inquiries that it has not received an application for the publication of "Wrath of the Lich King," the second expansion of 3D MMORPG World of Warcraft, operated in China by NetEase (Nasdaq:NTES)...

7 Days Hotels Q4 Loss Deepens, Rev up 33% YoY

Tue, 09 Mar 2010 10:17:57 GMT

Economy hotel chain 7 Days Group Holdings (NYSE:SVN) reported a net loss of RMB 93.4 million ($13.7 million), or diluted loss per ADS of RMB 3.84 ($0.56), compared with a loss of RMB 25.3 million in the comparable period last year. Total net revenues for the fourth quarter increased by 32.6%...

Giant: "Green ZT" OB on 3/12, PCU Tops 400,000

Tue, 09 Mar 2010 10:10:14 GMT

Giant Interactive (NYSE:GA) plans to begin open beta testing of the "green" version of its in-house developed MMORPG ZT Online on March 12, the game's official site said March 8. Previous reports said that the version would enter

Tencent: New "Da Ming Long Quan" CB, "A.V.A" Version

Tue, 09 Mar 2010 10:09:05 GMT

Tencent (0700.HK) plans to start third-round closed beta testing of its licensed Ming Dynasty-based 2D martial arts MMORPG Da Ming Long Quan on March 18, reports 17173.com on March 9. The company intends to begin issuing activation accounts on March 11 and will not delete gamer information...

China Life Lifts Expectations for Net Profit Growth

Tue, 09 Mar 2010 10:06:04 GMT

China Life Insurance (NYSE:LFC, 2628.HK, 601628.SH) has raised its expectations for growth in its 2009 net profit to more than 200% year-on-year, after further calculations of its 2009 financial data, the company said March 9. The insurer said

E-Commerce Site 360buy Sets Up SW China Subsidiary

Tue, 09 Mar 2010 10:05:52 GMT

Business-to-consumer IT e-commerce site 360buy.com plans to establish a subsidiary in Chengdu, Sichuan province on March 15 and invest a total of RMB 500 million over the next three years for land purchases, talent recruitment and marketing promotions, qq.com reports March 9 quoting company Vice President...

NetDragon to Start Alpha of "CJ 7 OL" on 3/15

Tue, 09 Mar 2010 10:05:07 GMT

Fuzhou-based online game company NetDragon (0777.HK) plans to start alpha testing of its in-house developed 2.5D MMORPG CJ 7 Online on March 15, according to the game's official site. CJ 7 Online is a Q-style, turn-based science fiction game, the site said.

Shanda to Start "Dragon Nest" CB on 3/25

Tue, 09 Mar 2010 10:01:59 GMT

Shanda (Nasdaq:SNDA) plans to start closed beta testing of its licensed 3D fighting casual game Dragon Nest on March 25, 17173.com reported March 9. The company will begin issuing activation accounts on March 10, said the report. Dragon Nest entered

Alibaba.com Site 1688 Records 6.7m Visits on Day One

Tue, 09 Mar 2010 10:01:58 GMT

Hangzhou-based business-to-business (B2B) e-commerce company Alibaba.com's (1688.HK) wholesale e-commerce site 1688.com recorded visitor traffic of over 6.39 million and transaction volume of 3.06 million products on its first day of operation, March 8, reports Sina. The wholesale platform...

A-Shares Follow Property, Coal Stocks Up

Tue, 09 Mar 2010 10:00:27 GMT

The Shanghai Composite Index increased 0.52% to close at 3,069.14, while the Shenzhen Composite Index climbed 0.37% to end at 1,177.1 on Tuesday, March 9. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were RMB 107.48 billion and RMB 78.26 billion, respectively. Real estate companies...

H-Shares Inch Higher, China Southern Soars 7%

Tue, 09 Mar 2010 10:00:03 GMT

The Hang Seng Index swung in and out of negative territory during the day, before closing 0.05% higher at 21,207.55 on Tuesday, March 9. Main board trading volume eased to HK$58.49 billion. China Southern Airlines (1055.HK, NYSE: ZNH, 600029.SH) shot up 7.05% on Tuesday, after the company announced...

Rumor: Fu Ji Food Sold to State-Owned Co for HK$500m

Tue, 09 Mar 2010 09:45:20 GMT

Catering service provider Fu Ji Food & Catering Services Holdings (1175.HK) has been acquired by a state-owned company for HK$500 million, Southern Metropolis Daily reported citing an unnamed source. Listed in 2004, Fu Ji Food & Catering Services applied for liquidation in October 2009 after...

Clothing Retailer Vancl Nears Fourth Funding Round

Tue, 09 Mar 2010 09:40:33 GMT

An unnamed investment industry employee says that online clothing retailer Vancl has reached an agreement for fourth-round investment of nearly $100 million, led by IDGVC partner Lin Dongliang, DoNews reports March 9. Vancl has not yet received the total investment amount, the employee said. Qiming Venture...

China Sunergy (CSUN) Pre-Earnings Forecast - March 9, 2010

Tue, 09 Mar 2010 09:26:03 GMT

NetEase (NTES) Monthly - March 9, 2010

Tue, 09 Mar 2010 09:24:04 GMT

China Breaks 300MT Gold in 1Yr

Tue, 09 Mar 2010 09:23:27 GMT

China produced 313.98 metric tons (MT) of gold in 2009, up 11.34% year-on-year and marking the first time the country's annual output has exceeded 300MT, according to statistics released by the Ministry of Industry and Information Technology (MIIT) on March 5. Over January this year, China produced...

Marks & Spencer Plan 2nd & 3rd Shanghai Stores

Tue, 09 Mar 2010 09:20:23 GMT

British retailer Marks & Spencer (LON:MKS) (M&S) plans to open its second store in Shanghai in the near future and has signed an agreement with the Shanghai government to open its third store in the city in 2011, eeo.com.cn reported. Reports in

Beijing Gome Sets Up RMB 1m Compensation Fund

Tue, 09 Mar 2010 09:18:54 GMT

Home appliance and electronics retailer Gome's (0493.HK) Beijing subsidiary reached an agreement with the Beijing Consumer Association on March 8 to dedicate RMB 1 million to a compensation fund for consumers, Beijing Times reported. Under the agreement, the Beijing Consumer Association can use...

DMEGC Magnetics Plans 100MW Silicon Project

Tue, 09 Mar 2010 08:45:42 GMT

Hengdian Group DMEGC Magnetics (002056.SZ) plans to build a 100MW mono-crystalline silicon project in Jixian, Henan province, the company announced March 9. The project will require total investment of RMB 316 million and is expected to generate RMB 504 million in annual sales revenues, according...

Hotel Chain Hanting Files for US IPO

Tue, 09 Mar 2010 07:24:47 GMT

China Lodging Group, the operator of Shanghai-based economy hotel chains Hanting Express Hotel, Hanting Seasons hotel and Hanting Hi Inn, filed with the US Securities and Exchange Commission on March 5 to raise up to $50 million via an initial public offering of American depositary shares. China Lodging...

Poly Feb Sales Slow, Growth Still Up 40% YoY

Tue, 09 Mar 2010 07:07:59 GMT

Guangzhou-based Poly Real Estate Group (600048.SH) made revenues of RMB 1.45 billion in February from sales of 215, 500 square meters of property, the company announced March 9. For the first two months combined, the company's sales revenue stood at RMB 4.77 billion on sales of 619,200 square...

Metals: Bi-Weekly Update - March 8, 2010

Mon, 08 Mar 2010 19:46:01 GMT

NBS: Property Prices Methodology Under Review

Mon, 08 Mar 2010 10:30:46 GMT

China's National Bureau of Statistics (NBS) is investigating new methods to calculate national property prices, in response to questions over the reliability of an NBS report that stated property prices across 70 cities in China grew at a rate of 1.5% year-on-year last year, guandian reported March 7...

Alibaba.com Releases Wholesale Platform

Mon, 08 Mar 2010 10:30:39 GMT

Hangzhou-based business-to-business (B2B) e-commerce site Alibaba.com (1688.HK) launched a wholesale e-commerce site at 1688.com on March 8, pcpop.com reports. The new site shows Alibaba.com's Chinese-language page, DoNews reported the same day. Alibaba.com plans to spend RMB 100 million advertising...

Tencent: QQ IM PCU Breaks 9 Figures

Mon, 08 Mar 2010 10:20:07 GMT

Tencent (0700.HK) announced Friday that its instant messaging (IM) tool "QQ" has recorded more than 100 million peak concurrent users (PCU) on Friday, March 5, DoNews reports. Tencent has added a "casual zone" channel to offer small flash games through QQ Groups, said another DoNews report....

Greentown Feb Revenue up 72% Y-o-y

Mon, 08 Mar 2010 10:18:19 GMT

Hangzhou-based real estate developer Greentown China Holdings (3900.HK) recorded contract sales of approximately RMB 1 billion in February, up 72% year-on-year, from sales of around 70,000 square meters of property, guandian.cn reported March 8. According to the report, Greentown won 70% rights...

Vice Minister: Fixed Exchange Key to Double-Digit Trade Growth

Mon, 08 Mar 2010 10:16:44 GMT

Ma Xiuhong, Vice Minister of Commerce, said at a subcommittee forum of the Chinese People's Political Consultative Conference that China may be able to record growth of foreign trade this year of more than 10%, provided the Renminbi exchange rate is kept relatively stable and that last year's tax rebate...

COLI Posts Feb Rev Growth from Shrinking GFA Sales

Mon, 08 Mar 2010 10:12:47 GMT

China Overseas Land & Investment (0688.HK) (COLI) recorded sales worth HK$2.78 billion, up 51.9% year-on-year, from sales of 180,000 square meters of gross floor area (GFA) in February 2010, down 13.7% year-on-year, the company announced March 8. During the month, COLI acquired seven new projects...

Shanda Music Announces "Super Star" Russian OB

Mon, 08 Mar 2010 10:09:46 GMT

Shanda (Nasdaq:SNDA) music division Shanda Music announced March 4 that Shanda's in-house developed online music game Super Star entered open beta testing in Russia, 17173.com reported March 8. The game is operated in Russia by Nival Network. Super Star entered

Flyke to List in Hong Kong

Mon, 08 Mar 2010 10:08:51 GMT

Sportswear brand Flyke plans to raise up to HK$498 million via an initial public offering of 200 million shares on the Hong Kong Exchange, Sina reported March 5. The company's shares will begin trading on March 22, said the report.

Netsun Clothing Site Eyes ChiNext IPO

Mon, 08 Mar 2010 10:04:33 GMT

Zhejiang Netsun Toocle's (002095.SZ) business-to-consumer e-commerce clothing site Yifu.com has started preparations for an initial public offering (IPO) on Shenzhen's ChiNext board after completing a management buy-out, Zhejiang Metropolis News reported March 8 quoting Yifu.com Chairman Chen...

Kingsoft Unveils "Safeguard" Product

Mon, 08 Mar 2010 10:02:07 GMT

Kingsoft (3888.HK) released a beta version anti-Trojan virus security software "Kingsoft Safeguard" and an official site for the software at ijinshan.com on March 6, qq.com reported March 8. According to Kingsoft, the software is based on "cloud computing" technology, the report said. Kingsoft's...

A-Shares Edge Up; Construction, Property Rise

Mon, 08 Mar 2010 10:00:40 GMT

The Shanghai Composite Index rose 0.73% to close at 3053.23, while the Shenzhen Composite Index rose 0.98% to end at 1,172.8 on Monday, March 8. Trading volume on the Shanghai and Shenzhen Stock Exchanges was RMB 92.7 billion and RMB 69.57 billion, respectively. Construction companies moved up sharply...

MIIT: Electric Vehicle Subsidies Forthcoming

Mon, 08 Mar 2010 10:00:27 GMT

China plans to release guidelines for subsidies of electric vehicle purchases following the National People's Congress and Chinese People's Political Consultative Conference, which conclude on March 14 and 13, respectively, Chongqing Evening News reported quoting Miao Wei, vice governor of the Ministry...

H-Shares Add On 2%; Banks, Property Strong

Mon, 08 Mar 2010 10:00:22 GMT

The Hang Seng Index increased 1.97% to close at 21,196.9 on Monday, March 8, in main board trading volume of HK$64.33 billion. Shares of the Industrial and Commercial Bank of China (1398.HK, 601398.SH) rose 2.24% after the bank's president said at a Beijing press conference that ICBC has no plans...

Baidu (BIDU) Weekly - March 8, 2010

Mon, 08 Mar 2010 09:35:28 GMT

L'Oreal Mainland Sales Hit RMB 8b in 2009

Mon, 08 Mar 2010 09:27:10 GMT

L'Oreal (EPA:OR) Group recorded sales of RMB 8.18 billion in mainland China in 2009, up 17.6% year-on-year, Beijing Times reported citing a company announcement over the weekend. This is L'Oreal's ninth consecutive year of double-digit growth in the mainland, said the report. The company had...

Ping An Property & Casualty: '09 Profit Up 11% Y-o-y

Mon, 08 Mar 2010 09:26:41 GMT

Ping An Insurance (Group) (2318.HK, 601318.SH) subsidiary Ping An Property & Casualty Insurance Company booked net profit of RMB 648.15 million in 2009, up from RMB 583.97 million in the year-ago period, the parent company announced on March 5. Earned premiums rose to RMB 28.43 billion in 2009...

Solarfun Reports Q4 Income of $1.6m, Meets Shipments

Mon, 08 Mar 2010 09:19:41 GMT

Vertically integrated ingot, cell and module maker Solarfun Power Holdings (Nasdaq:SOLF) reported net income attributable to shareholders of RMB 10.6 million ($1.6 million) in the fourth quarter of 2009, or net income of RMB 0.18 ($0.03) per basic ADS, compared to a net loss attributable to shareholders...

CNPV Wins Korean Supply Deal

Mon, 08 Mar 2010 08:15:45 GMT

Shandong-based integrated photovoltaic (PV) products producer China Solar Photovoltaic SA (CNPV) (EPA:ALCNP) has supply South Korean PV company Techbank with a total of 36MWp of PV Modules from 2010 to 2012, including 10MWp of scheduled delivery during 2010. The remaining 12MWp and 14MWp are scheduled...

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