China Knowledge Online

China's light industry's gross output up 17.6% in Jan-Aug

9/28/2012

Medium and large enterprises in the light industry in China saw their gross output jump 17.6% YoY to RMB11.3 trillion in the first eight months of this year, slowing from a 18.2% growth in the first half of this year, according to figures released by the National Development and Reform Commission. In August, the industry's gross output grew 15.2% YoY to RMB 1.51 trillion, and the growth rate was lower than a 15.8% growth it realized in Jul 2012. From January to August, the exports of the light industry grew 14% YoY to US$324.93 billion, after rising 14.8% in the first half of this year....

China's petrochemical industry output up 11.1% in Jan-Aug

9/28/2012

The petrochemical industry in China saw its total output value grow 11.1% YoY to RMB 6.96 trillion in the first eight months of this year, according to figures released by the National Development and Reform Commission. The industry saw its value-added output grew about 9.4% YoY in the eight-month period. The value-added output of oil refining sector rose 7.5% YoY, and that of the chemical sector increased 12.5%. The country processed 304.3 million metric tons of crude oil in the first eight months, 1.6% more than in the same period of last year. The output of oil products rose 3.9% YoY to 183.78 million metric tons, and that of chemical fertilizer grew 13.8% to 50.65 million metric tons....

China's logistics expense up 11.3% in Jan-Aug

9/28/2012

China’s total logistics expense grew 11.3% YoY to RMB 5.6 trillion in the first eight months of this year, according to figures from the National Development and Reform Commission. The growth rate was lower than 11.8% growth it realized in the first seven months of this year. Of the total expense, RMB 2.9 trillion was transportation cost, up 10.4% YoY, RMB 2 trillion was storage cost, up 12% YoY, and RMB 700 billion was management cost, 13% more than that in the same period of last year....

Shanghai Electric to issue RMB 3.5 bln bills

9/28/2012

Shanghai Electric (Group) Corp, the parent of Shanghai Electric Group Co Ltd<601727><2727>, has announced it will issue RMB 3.5 billion in short-term bills with a maturity of 365 days in the interbank market on Oct 9. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Oct 10, and the to-be-issued bills tradable Oct 11....

China's pharm industry's output up 20.8% in Aug

9/28/2012

China's pharmaceutical industry realized RMB 147.4 billion in output value in August this year, 20.8% more than in the corresponding period of last year, said the National Development and Reform Commission in a statement published on its website. In the first eight months of this year, China saw its output value in pharmaceutical industry grow 19.6% YoY to RMB 1.13 trillion. The output value of the chemical original drug manufacturing sector rose 12.8% YoY to RMB 209.8 billion, and that of the chemical preparation manufacturing sector grew 24.1% YoY to RMB 324 billion....

Jiugui Liquor expects 400% surge in profit for Jan-Sep

9/28/2012

Jiugui Liquor Co Ltd<000799> has announced it expects its net profit to soar between 400% and 450% YoY in the first three quarters of this year. According to a statement filed with Shenzhen Stock Exchange, the company said that basic earnings per share were estimated at RMB 1.32 to RMB 1.45 in the period. The liquor maker expected its net profit for Q3 this year to reach between RMB 169 million and RMB 209 million, up 572% to 732% YoY....

China Railway Construction wins RMB 4.3 bln contract

9/28/2012

China Railway Construction Corp Ltd or CRCC<601186><1186>, a leading state-owned construction company in the country, has announced its subsidiary company, China Civil Engineering Construction Corp, recently inked an agreement with Nigeria's federal ministry of aviation with contract value of US$683 million or about RMB 4.3 billion. The contract value is equivalent to 0.94% of the company's operating revenue in 2011. According to the agreement, China Civil Engineering Construction Corp will set up a total of five airport terminals in five Nigeria cities comprising Abuja, Lagos, Kano, Port Harcourt and Enugu....

XCMG Construction to double exports in 2012

9/28/2012

XCMG Construction Machinery Co Ltd<000425>, one of the leading construction machinery makers in China, expected its crane export to grow nearly 100% in 2012, source reported. Lu Chuan, Vice General Manager of XCMG Construction Machinery Co, said Africa and South America are the two major markets for the company, and South America is XCMG Construction's largest overseas market. At present, XCMG Construction's had nearly 50% of market share in domestic crane market, while its average overseas market share reached 30%....

Greenland Energy Group to issue RMB 400 million bills

9/28/2012

Greenland Energy Group Co Ltd has announced it will issue RMB 400 million in short-term bills with a maturity of 365 days in the interbank market on Oct 11. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Oct 12, and the to-be-issued bills tradable Oct 15....

Tomson Group's H1 loss narrows to HK$25.55 mln

9/28/2012

Tomson Group Ltd<0258>, a Hong Kong-based real estate developer, has posted an HK$25.55 million net loss for the first half of this year, compared with a net loss of HK$82.04 million it suffered in the corresponding period of last year. Basic loss per share for the period was 1.8 HK cents, and no dividend was declared. In the first half of this year, Tomson Group saw its operation revenue reach HK$470.82 million, less than HK$680 million it realized in the first half of 2011....

Yuexiu Property buys land in Guangzhou for RMB 1.25 bln

9/28/2012

Hong Kong-listed property developer Yuexiu Property Co Ltd<0123>, formerly known as Guangzhou Investment Co Ltd, has announced that it has bought a piece of land in Guangzhou of Guangdong Province for RMB 1.25 billion in total or RMB 5,500 per square meter of floor area. With a land area of 90,500 sq m, the plot will have gross floor area of 226,400 sq m and it will be developed into residential property. As of to date, Yuexiu Property has land reserves of 12.24 million sq m....

MOF to issue RMB 28 bln in 50-year T-bonds

9/27/2012

China's Ministry of Finance (MOF) will issue RMB 28 billion worth of book-entry treasury bonds from today to Sep. 28, according to an online statement released by the MOF. The bonds, this year's 18th batch, will have a maturity of twenty years and carry a coupon rate of 4.1%. Interest will be calculated from Sep. 27 and be paid twice a year on each Sep. 27 and Mar. 27....

Guangdong Orient Zirconic to issue RMB 490 mln bonds

9/27/2012

Guangdong Orient Zirconic Industry Science & Technology Co<002167> has announced it plans to issue RMB 490 million worth of corporate bonds with a maturity of seven years on the interbank market from Oct.8 to Oct. 10, sources reported. The issuer has option to increase coupon rate and redeem the bonds at the fifth year. Coupon rate of the fixed-rate bonds will be in the range of 6.70% to 7.60% and will be determined in the process of book-building. Both value date and payment due date is set on Oct 8....

New World Development's profit up 10.8% in FY ended Jun 30

9/27/2012

New World Development Co Ltd<0017>, controlled by Henry Cheng, the son of Hong Kong billionaire Cheng Yu-Tung, has announced its net profit in the 12 months ended Jun 30, 2012 increased 10.8% YoY to HK$10.14 billion. Basic earnings per share for the period were HK$1.88, and the company proposed a final dividend of HK$0.28 per share. According to a statement filed with Hong Kong Stock Exchange, revenue for the twelve-month period rose 8.33% YoY from HK$32.88 billion to HK$35.62 billion....

China's service outsourcing value up 55% in Jan-Aug

9/27/2012

The value of China's service outsourcing contracts surges 55% YoY to US$26.9 billion in the first eight months of this year, sources reported. From January to August, China saw its international service outsourcing contracts increase 48% from a year earlier to US$18.7 billion. Last year, the country's service outsourcing contracts hit US$32.4 billion, reflecting a YoY increase of 64%, of which, US$23.8 billion were international service outsourcing contracts, up 65% YoY....

Hong Kong Resources swings to loss in FY end Jun 30

9/27/2012

Hong Kong Resources Holdings Co Ltd<2882>, which is principally engaged in retailing and franchising operations for selling gold and jeweler products in China, has posted a net loss of HK$29.27 for the 12 months ended Jun 30, 2012, compared with a net profit of HK$38.44 million it earned a year earlier. According to a statement filed with Hong Kong Stock Exchange, basic loss per share for the period was 1.5 HK cents, and no dividend was declared. The company saw its revenue hit HK$3.84 billion in the twelve-month period, reflecting a YoY increase of 19.15%....

New Media Group's profit down 29.4% in FY end Jun 30

9/27/2012

New Media Group Holdings Ltd<0708>, a Hong Kong-based investment holding company and engaged in the magazine publishing business, has announced its net profit attributable to shareholders decreased 29.4% YoY to HK$29.65 million in the fiscal year ended Jun 30, 2012. Basic earnings per share for the period were 3.46 HK cents, less than 6.11 HK cents it realized a year earlier. The company proposed a final dividend of 0.4 HK cents per share. In the twelve-month period ended Jun 30, 2012, the Hong Kong-listed company saw its turnover hit HK$504.84 million, up 4.98% YoY....

United Laboratories' profit down 45% in H1

9/27/2012

The United Laboratories International Holdings Ltd<3933> has posted HK$169.12 million-net profit for the first half of this year, reflecting a YoY decrease of 45%. Basic earnings per share for the six-month period were 11.4 HK cents, and no dividend was declared. According to a statement filed with Hong Kong Stock Exchange, the company saw its revenue grow 8.1% YoY to HK$3.65 billion during the period, while the cost of sales for the six-month period surged 18.48% YoY to HK$2.58 billion....

Jiangsu Phoenix Publishing & Media to issue RMB 1.5 bln bills

9/27/2012

Jiangsu Phoenix Publishing & Media Group<601928>, the largest publishing enterprise in China in terms of revenue, has announced it will issue RMB 1.5 billion in short-term bills with a maturity of 365 days in the interbank market on Oct 11. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Oct 12, and the to-be-issued bills tradable Oct 15....

Shenzhen Airport to issue RMB 600 mln bonds

9/27/2012

Shenzhen Airport Co Ltd<000089>, the operator of Shenzhen Airport in Guangdong Province, has announced plans to issue RMB 600 million worth of unsecured corporate bonds with a maturity of three years on the interbank market from Oct 8 to Oct 10. Coupon rate will be determined in the process of book-building. Both value date and payment due date is set on Oct 8. All the proceeds from the issue will be used to replenish working capital, said the issuer....

Yikou Port Group to issue RMB 1.2 bln bills

9/27/2012

Yingkou Port Group Co Ltd, the second-largest port in Northeast China, has announced it will issue RMB 1.2 billion in short-term bills with a maturity of 365 days in the interbank market on Oct 11. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Oct 15, and the to-be-issued bills tradable Oct 16....

State Grid to issue RMB 10 bln bills

9/27/2012

State Grid Corporation of China, the nation's largest power supplier, has announced it will issue RMB 10 billion in short-term bills with a maturity of 365 days in the interbank market on Oct 11. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Oct 12, and the to-be-issued bills tradable Oct 15....

China's banking industry's assets hit RMB 123.71 trln at end-Aug

9/26/2012

The total assets of financial institutions in the China’s banking industry hit RMB 123.71 trillion at the end of Aug, up 18.4% YoY, according to a statement released the China Banking Regulatory Commission. Large-scale commercial banks saw assets increased 12.1% YoY to RMB 55.52 trillion at the end of August, while joint-stock commercial banks saw assets surge 26.7% to RMB 21.24 trillion. The assets of city-level commercial banks were RMB 11.38 trillion at the end of August, up 29.4% from a year earlier, and the assets of other banking financial institutions rose 21.1% YoY to RMB 35.56 trillion at the end of August....

China's air passenger volume up 11.3% in Aug

9/26/2012

The civil aviation industry in China saw its passenger volume grow 11.3% YoY to 30.71 million in August this year, according to figures from the Civil Aviation Administration of China. Last month, the industry's cargo and mail throughput rose 0.1% YoY to 455,600 metric tons, said the administration. In the first eight months of this year, the country's air passenger throughput totaled 211.76 million, 9.2% more than in the same period of 2011, and its cargo and mail volume dropped 4.1% YoY to 3.42 million metric tons....

China's foreign financial assets hit US$4.95 trln at end-Jun

9/26/2012

China's foreign financial assets hit US$4.95 trillion at the end of June this year, according to the latest statistics released by the State Administration of Foreign Exchange. The figure includes US$392 billion in overseas direct investment, US$259.3 billion investments in foreign securities and US$979.8 billion in other investments, which accounted for 8%, 5% and 20% of the total, respectively. Meanwhile, the country's reserve assets were US$3.32 trillion at the end of June, which accounted for 67% of its total foreign financial assets....

Hong Kong's export value up 0.6% in Aug

9/26/2012

The value of Hong Kong's exports of goods rose 0.6% YoY to HK$311.7 billion in August this year, after a YoY decrease of 3.5% in July, according to the latest figures from the Census and Statistics Department. Last month, the value of re-exports totaled HK$306.2 billion, up 0.7% YoY, while the value of domestic exports decreased by 7.2% to HK$5.5 billion. The value of Hong Kong's imports of goods totaled HK$347.7 billion last month, up 0.9% YoY. The city recorded trade deficit of HK$36 billion, equivalent to 10.4% of the value of imports of goods during the period....

China's foreign trade with Hungary down 26.2% in Aug

9/26/2012

China saw its foreign trade with Hungary plunge 26.2% YoY to US$670 million in August this year, according to the statistic from China's General Administration of Customs. Last month, China exported US$480 million worth of goods to Hungary, reflecting a YoY decrease of 28.7%, and China imported US$180 million worth of goods from Hungary, down 18.5% from a year earlier. In the first eight months of this year, China saw its foreign trade with Hungary drop 14.2% YoY to US$5.19 billion....

Ajisen China Holdings Ltd's profit down 81.6% in H1

9/26/2012

Ajisen (China) Holdings Ltd<0538>, a restaurant chain operator, has announced that its net profit for the first half of this year plunge 81.6% YoY to HK$46.93 million. According to a statement filed with Hong Kong Stock Exchange, basic earnings per share for the period were HK$0.04, down 81.7% from a year earlier. From January to June, the company saw its operation revenue decrease 9.2% YoY to HK$1.51 billion....

Beijing Jingxi Tourism to raise RMB 1.28 bln via placement

9/26/2012

Beijing Jingxi Tourism Development Co<000802>, which is principally engaged in the development of tour projects and the tourism information consulting, as well as the provision of related hotel and restaurant services, has announced its plan to raise no more than RMB 1.28 billion through a private placement. According to a statement, the Shenzhen-listed company said it will issue up to 152 million A- shares with a price of RMB 8.39 per share to four investors, including its controlling shareholder China Wallink Holding Group Co Ltd. Proceeds from the issue will be used to purchase a hotel company....

Beijing State-owned Assets to issue RMB 1.5 billion MTN

9/26/2012

Beijing State-owned Assets Management Co Ltd, a wholly owned subsidiary of the Beijing Municipal Government, has announced it will issue RMB 1.5 billion in medium-term notes with a maturity of five years in the interbank market on Oct 9. The company said in a statement that the notes will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Oct 11, and the to-be-issued notes tradable Oct 12....

Sichuan Shengda Forestry to issue RMB 100 million bills

9/26/2012

Sichuan Shengda Forestry Industry Co Ltd<002259>, which is principally engaged in the manufacture and distribution of medium titer boards and wood floorboards, has announced it will issue RMB 100 million in short-term bills with a maturity of 365 days in the interbank market on Oct 8. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Oct 10, and the to-be-issued bills tradable Oct 11....

State Grid to issue RMB 10 bln MTN

9/26/2012

State Grid Corporation of China, the nation's largest power supplier, has announced it will issue RMB 10 billion in medium-term notes with a maturity of three years in the interbank market on Oct 10. The company said in a statement that the notes will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Oct 11, and the to-be-issued notes tradable Oct 12....

Taiwan's M2 growth falls to 3.69% in Aug

9/25/2012

Taiwan's central bank has announced that its broad money supply, M2, grew 3.69% YoY in August this year. The growth rate was lower than the 3.8% rise recorded in July 2012, according to the central bank's statement. Taiwan's M1B, a measure of money in circulation, increased 2.73% last month, lower than the 2.88% growth in July 2012....

Kellogg joint-venture with Wilmar International in China

9/25/2012

Kellogg Company, one of the world's leading cereal and convenience foods producers, has announced it will set up joint venture in China with Singapore-based Wilmar International Ltd. Each party will own 50 percent of the new entity. According to a statement, the new JV will locate in Shanghai and will produce and sell cereals and snacks. Wilmar International will provide infrastructure, supply chain and distribution network for the new JV, while Kellogg Company will provide a series of world famous brands and products....

TSMC sells HK$78.3 mln of shares in SMIC

9/25/2012

Taiwan Semiconductor Manufacturing Co or TSMC, the world's largest contract chipmaker by revenue, has announced that it sold HK$78.3 million worth of shares in Semiconductor Manufacturing International Corp or SMIC<0981>, China's largest chipmaker. According to a statement, the Taiwan-based company sold 269.2 million shares in SMIC at a price of HK$0.29 apiece. This is part of the measures that TSMC deals with its non-core assets, said the company. After the share sales, TSMC realized HK$9.7 million or US$1.2 million in profit....

China State Construction wins RMB 18.35 bln contracts

9/25/2012

China State Construction Engineering Corp Ltd<601668>, China's largest property and construction conglomerate,has announced that it recently won the bid for eight major projects with a total contract value of RMB 18.35 billion. The company said in a statement filed with the Shanghai Stock Exchange that the contract value was equivalent to 3.8% of its operating revenue in 2011. The company said earlier that it signed RMB 611.1 billion of construction contracts in the first eight months of this year, 11.2% more than in the same period of last year....

Hangzhou Airport to issue RMB 500 million MTN

9/25/2012

Hangzhou Xiaoshan International Airport Co Ltd has announced it will issue RMB 500 million in medium-term notes with a maturity of five years in the interbank market on Oct 9. The company said in a statement that the notes will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Oct 10, and the to-be-issued notes tradable Oct 11....

HKEx to issue US$500 mln convertible bonds

9/25/2012

Hong Kong Exchanges and Clearing Ltd or HKEx<0388>, the world's leading exchange operator by market value, has announced that it plans to issue US$500 million worth of convertible bonds. The insurer said in a statement that the convertible bonds will carry a coupon rate of 0.5%. The conversion price is set at HK$160 apiece, which represented a 34.57% premium over the closing price of HK$118.9 on Monday. Proceeds from the deal will be used to acquire LME Holdings Ltd....

Beijing Urban Construction wins land bid in BDA

9/25/2012

Beijing Urban Construction Investment & Development Co Ltd<600266>, a leader in Beijing's construction industry, has announced that its subsidiary won a land bid in Beijing Economic-Technological Development Area (BDA), a triple-A rated industrial park, at a consideration of RMB 1.63 billion. In a statement filed with the Shanghai Stock Exchange, the company said the plot which covers land area of 8.15 hectares will have a plot ratio of 2.0. The land will house 163,000 sq m of properties, of which, 16,400 sq m will be used to construct public housing....

China's port cargo throughput up 2% in Aug

9/24/2012

China saw its cargo throughput of ports above designated size reach 792.04 million metric tons in August this year, reflecting a YoY growth of 2%, the Ministry of Transport said. The figure last month was 14.38 million metric tons lower than in July 2012. In August, the cargo throughput of coastal ports reached 539.2 million metric tons, while that of inland ports was 252.85 million metric tons....