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1. Suning Universal to launch property JV in Nanjing
Suning Universal Co Ltd<000718>, a real estate subsidiary of Suning Universal Group, yesterday announced that it will team up with a local property firm to set up a joint venture with a registered capital of RMB 100 million in Nanjing, Jiangsu Province, sources reported. The Shenzhen-listed company currently...
19 Nov 2009
2. China Satcom Guomai Communications to buy hotel
China Satcom Guomai Communications Co<600640> has announced that it plans to spin off its telecom, call center and other related businesses and acquire Shanghai Tongmao Hotel through a private placement and cash payment, sources reported.The Shanghai-listed firm, a digital clustering operator and...
18 Nov 2009
3. Rongqiao Real Estate buys land for RMB 531.66 mln in Shanghai
Shanghai Rongqiao Real Estate Co Ltd, a subsidiary of Fujian-based Rongqiao Group, on Nov. 11 won bid for a piece of land in Baoshan District, Shanghai for RMB 531.66 billion, sources reported. The price is 129% higher than the asking price of RMB 231.7 million. The parcel covers a land area of 53,263.3 square...
18 Nov 2009
4. China Enterprise increases capital of Shanghai subsidiary
China Enterprise Co Ltd<600675>, a real estate developer, has announced that it plans to raise the registered capital of a Shanghai subsidiary from RMB 200 million to RMB 700 million, sources reported. The subsidiary won the bid for a piece of residential land in Luodian Town, Baoshan District, Shanghai on...
18 Nov 2009
5. Lanxess sees double-digit growth in China sales in Q3
Lanxess AG, a global player in the fields of chemicals, plastics and rubber, said Thursday that its sales in the Greater China region increased 21% year on year to EUR 172 million in the third quarter of this year, due to the ongoing boom in the construction business.The China sales accounted for 12.5% of the...
16 Nov 2009
6. Apple to open 2 retail stores in Shanghai next year
U.S-based Apple Inc said on Thursday that it plans to open two retail stores in Shanghai, after opening its first Chinese store in Beijing last year. The consumer electronics giant said it will open 40 to 50 new stores next year, more than half of which will be outside the U.S. In July, 2008, Apple opened the first...
16 Nov 2009
7. SocGen, Baosteel launch auto leasing JV in Shanghai
France-based Societe Generale, the third-largest bank in France, recently set up an auto-leasing joint venture in Shanghai with Baosteel Group, the largest iron and steel maker in China, as part of its effort to expand its business in the country. The new JV, with a registered capital of RMB 50 million, is equally held...
13 Nov 2009
8. Hainan Airlines buys office building in Shanghai
A property subsidiary of Hainan Airlines Co Ltd<600221><900945> on Wednesday acquired a 100% stake and creditor's rights worth RMB 721 million in an office building, Pufa Tower, in Pudong New Area, Shanghai for RMB 1.48 billion in total, sources reported.Pufa Tower began seeking buyers with an asking...
13 Nov 2009
9. ShangHai ShiMao buys land in Hangzhou for RMB 601 mln
ShangHai ShiMao Co Ltd<600823>, a subsidiary of Shimao Property <0813>, on Tuesday won the bids for two pieces of land in Hangzhou, Zhejiang Province for RMB 601 million in total, according to a statement filed with the Shanghai Stock Exchange.The company acquired one parcel for RMB 332.37 million or RMB...
13 Nov 2009
10. NYSE Euronext seeking Shanghai listing
NYSE Euronext, the parent of the New York Stock Exchange, is seeking to become one of the first foreign companies to list on the international board of the Shanghai Stock Exchange, said Ronald Kent, executive vice president and head of international listings, sources reported Wednesday.Kent said that NYSE...
13 Nov 2009
11. Local gov't to hold 57% of Shanghai Disney theme park
The Shanghai municipal government is likely to hold a 57% stake in the new Disney theme park, while the remaining 43% stake will go the Walt Disney Co, the People's Daily reported on Thursday, citing an unnamed source as saying.The newspaper said that investment in the theme park would reach RMB 24...
9 Nov 2009
12. Privately-run Juneyao Airlines eyes RMB 2-bln IPO
Juneyao Airlines Co Ltd, a privately-run airline based in Shanghai, aims to raise as much as RMB 2 billion via an initial public offering later this year, the China Daily reported, citing Juneyao Group President Wang Junhao as saying.The carrier has not decided on the venue of the listing, said Wang, adding that the...
9 Nov 2009
13. Best Buy to expand presence across China
Global consumer electronics retailer Best Buy Co Inc is planning to step out of Shanghai and expand its presence in China, sources reported. The U.S.-based retailer aims to open four or five stores across the country next year, a senior executive from Best Buy China said, without disclosing the locations for the new...
5 Nov 2009
14. Bank of Ningbo reduces size of private placement
Bank of Ningbo Co Ltd<002142>, one of three listed municipal commercial lenders in China, announced yesterday that it plans to downsize its private placement plan.The lender now plans to issue a total of 383.8 million shares, rather than the 450 million it planned previously. The issue price will still be RMB...
5 Nov 2009
15. Shanghai Urban Construction Group to issue short-term bills
Shanghai Urban Construction Group Corp on Tuesday announced that it will float RMB 1.2 billion in 365-day short-term bills on the interbank market on Nov. 9. The company said in a statement that this batch of bills would be issued at face value and that the coupon rate was to be determined during the process of...
4 Nov 2009
16. Shanghai Industrial Development to raise up to RMB 4.2 bln
Shanghai Industrial Development Co Ltd<600748>, which is principally engaged in property development, yesterday announced that it plans to issue up to 300 million shares for RMB 14.43 per share or RMB 4.2 billion at most, sources reported.The proceeds from the issuance will be used to fund the development of...
4 Nov 2009
17. Agile acquires land in Changzhou for RMB 940 mln
Agile Property Holdings Ltd<3383>, a Hong Kong-listed developer of large scale residential projects, hotels, shopping malls and grade A commercial buildings, on Monday announced it has acquired a piece of land for RMB 940 million in Changzhou, Jiangsu Province.The parcel, located on Longcheng Avenue in...
4 Nov 2009
18. Youngor buys land in Ningbo for RMB 1.18 bln
Youngor Group Co Ltd<600177>, which is engaged in manufacture of apparel and textile products and in property development, yesterday announced that it has won the bid for two pieces of land in Ningbo, Zhejiang Province for RMB 1.18 billion in total, sources reported.The Shanghai-listed firm spent RMB 474...
4 Nov 2009
19. China approves Shanghai Disney theme park project
Global entertainment giant Walt Disney Co said on Tuesday that it has received approval from the central government of China to build a Disney theme park in Shanghai, sources reported.The company said in a statement that the Project Application Report for a Disney theme park in the Pudong district of Shanghai...
4 Nov 2009
20. Sinopec, Mitsui Chemicals to build 2 plants worth ¥60 bln
A chemical subsidiary of Sinopec<600028><0386> and Japan's Mitsui Chemicals plan to jointly spend ¥60 billion to build two plants in Shanghai that will produce resins and synthetic rubber, sources reported.The two partners plan to build a ¥40-billion phenol plant that will start production in the spring of...
4 Nov 2009
 
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