Business news

China Consultants Int'l now on Google+

talanski@hotmail.com (China Consultants) — Thu, 02 Feb 2012 16:13:55 GMT

There are no translations available.

Now we have an official page at Google+ !

Thank you.

CCI Team.

China National Invests $300 Million in Isofoton PV Venture

talanski@hotmail.com (China Consultants) — Thu, 02 Feb 2012 16:02:46 GMT

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China National Offshore Oil Corp.’s battery unit invested $300 million in a venture with Spanish solar power company Isofoton SA to develop photovoltaic plants across Asia.

China National, the country’s biggest offshore energy explorer, will take a 51 percent stake in the Tianjin, China- based company through its Tianjin Lishen Battery Co. The entity will set up a 150-megawatt manufacturing plant and build power plants, said Isofoton Chief Executive Officer Angel Luis Serrano. Isofoton will own 49 percent and supply the technology.

Read the complete article here: http://www.businessweek.com

Hong Kong Stocks Rise as U.S. Manufacturing Lifts Global Outlook

talanski@hotmail.com (China Consultants) — Thu, 02 Feb 2012 16:00:40 GMT

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Hong Kong stocks advanced, with the Hang Seng Index heading toward its highest close in five months, as expanding manufacturing in the U.S., Europe and Asia boosted confidence the global economy is recovering.

Techtronic Industries Co., the maker of Ryobi power tools that counts North America as its top market, jumped 5.3 percent. Esprit Holdings Ltd., a Hong Kong-based clothier that gets about 79 percent of sales from Europe, climbed 5.5 percent after moving to close unprofitable stores in North America. Geely Automobile Holdings Ltd. led Chinese carmakers higher on speculation car sales in the mainland will increase.

Read the complete article here: http://www.businessweek.com

China to let banks keep more of their profits-paper

talanski@hotmail.com (China Consultants) — Thu, 02 Feb 2012 15:58:21 GMT

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China's Central Huijin Investment Co, the state parent of the country's "Big Four" banks, has agreed in principle to cut the lenders' dividend payout ratio this year by 5 percentage points in order to help ease their capital strains, the 21st Century Business Herald reported on Thursday.

Huijin had already cut the ratio for Industrial and Commercial Bank of China , Bank of China and China Construction Bank by 5 percentage points in both 2010 and 2011, to the current level of 40 percent, the newspaper said.

Read the complete article here: http://www.reuters.com

ASEAN-China Centre to help promote business, cultural exchanges

talanski@hotmail.com (China Consultants) — Thu, 26 Jan 2012 20:10:06 GMT

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The ASEAN-China Centre was launched at the 14th ASEAN-China Summit, and set up in Beijing in November 2011.

It hopes to facilitate trade and promote investments between China and ASEAN. The centre will also help investors and businesses from ASEAN countries explore trade and investment opportunities in China.

However, it is not all about business. Also on the centre's agenda - promoting tourism, as well as encouraging social, cultural, and educational exchanges between the two sides.

Read more at: http://www.channelnewsasia.com

Yo-yos big business in China

talanski@hotmail.com (China Consultants) — Thu, 26 Jan 2012 20:07:31 GMT

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The classic American plastic yo-yo is becoming big business in China.

With savvy promotion by Chinese toy companies, the market has grown from barely a blip six years ago to one of the largest, with one U.S. firm saying China is now the world’s top selling yo-yo market.

As with cars, where China rose quickly to become the biggest market worldwide, the new popularity of yo-yos is getting noticed by foreign companies.

The largest yo-yo maker in the United States, Duncan Toys Co., recently launched its first products for China and the company sees significant opportunity.

Read more at: http://www.plasticsnews.com

Google China Business Grows, ‘Continues to Thrive,’ Alegre Says

talanski@hotmail.com (China Consultants) — Thu, 26 Jan 2012 20:05:51 GMT

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Google (GOOG) Inc.’s business in China is growing and “continues to thrive” amid demand for advertising services in the world’s most populous country, said Daniel Alegre, president of the company’s Asia-Pacific operations.

Google ran afoul of Chinese authorities in 2010 for refusing to abide by local censorship rules. Amid the clash, the company shuttered its unfiltered search tools in China and instead began redirecting users to pages in Hong Kong.

China Construction Bank, Agricultural Bank Appoint New Heads

talanski@hotmail.com (China Consultants) — Thu, 19 Jan 2012 20:12:16 GMT

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China Construction Bank Corp., the world's second-largest lender by market value, and Agricultural Bank of China Ltd. appointed new chiefs, replacing executives who moved to head the nation's financial regulators last year.

Construction Bank named Wang Hongzhang, while Beijing-based Agricultural Bank elected Jiang Chaoliang after winning shareholders' approval, according to separate statements to the Hong Kong Stock Exchange yesterday. The appointments are effective immediately, the statements showed.

Read more at: http://news.businessweek.com

Trade group defends China role

talanski@hotmail.com (China Consultants) — Thu, 19 Jan 2012 20:07:32 GMT

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The Australia China Business Council has launched an impassioned defence of Beijing's push to sell more goods and services to the Australian resources sector, saying it creates employment, increases tax receipts, cuts costs, boosts finance options and reduces risk for mining groups.

"For developers who procure directly from China, in many instances this is driven by the need for further cost reduction," ACBC China representative Paul Glasson said. "Chinese-produced heavy industry equipment can sometimes be half (the cost of acquiring it) domestically."

The Australian reported this week that Australian companies - including the government-backed Oakajee Port project - were being pressured to buy equipment and services from Chinese companies.

Hang Lung underlying profit up as China business grows

talanski@hotmail.com (China Consultants) — Thu, 19 Jan 2012 20:04:25 GMT

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Shares of Hang Lung Properties Ltd jumped on Thursday after it reported increased operating profits and said it expects leasing profits from China soon to surpass those from Hong Kong.

Shares in the company were up 6.8 percent in late afternoon trade, the top performer among the property and construction stocks listed in Hong Kong, with the Hang Lung Group up 6.5 percent. The Hang Seng properties and construction index was up 3.5 percent.