LEWIS 360 | What's happening in China? China News Digest http://whatshappening.lewispr.com/cn/ Copyright LEWIS Communications LEWIS 360 | What's happening in China? 30/05/08 LEWIS 360 | What’s happening in China? 30/05/08

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BUSINESS

Chinese firms keen on overseas M&As
CHINESE companies are showing more interest in overseas acquisitions now that the United States subprime mortgage crisis has provided some bargain opportunities, industry experts said at a forum in Shanghai.
http://www.shanghaidaily.com/sp/article/2008/200805/20080530/article_361381.htm



FINANCE

Index rises on strength of oil-related shares
SHANGHAI'S key stock index closed higher today thanks to a rise among oil-related heavyweights in the market.
http://www.shanghaidaily.com/sp/article/2008/200805/20080530/article_361382.htm

No IPOs soon after assets buy
CHINA'S stocks regulator has barred companies from launching initial public offerings shortly after they have acquired major assets so that investors will have time to know their operations better before they embark on selling shares.
http://www.shanghaidaily.com/sp/article/2008/200805/20080530/article_361311.htm



TECHNOLOGY

The9 grabs a piece of the action
THE9 Ltd is to launch two or three new games, including its own action game, by the end of this year, and it will strengthen in-house innovation and expand in the game community sector, the Shanghai-based firm said.
http://www.shanghaidaily.com/sp/article/2008/200805/20080530/article_361282.htm

Software exports surge 54.9
CHINA'S software exports surged in the first four months of this year, due largely to technological innovation, the Ministry of Industry and Information Technology said yesterday.
http://www.shanghaidaily.com/sp/article/2008/200805/20080530/article_361313.htm

Asia Pacific's Largest Internet Data Center Lands Guangzhou
Asia-Pacific Information Engine, the largest internet data center in the Asia Pacific Region, has just been launched in Guangzhou.
http://www.chinatechnews.com/2008/05/29/6806-asia-pacifics-largest-internet-data-center-lands-guangzhou/



TELECOMS

China Mobile Continues To Extend Global Reach
China Mobile (CHL) has chosen Sybase 365 to extend its international SMS connectivity to an additional 44 countries and more than 130 operators.
http://www.chinatechnews.com/2008/05/30/6815-china-mobile-continues-to-extend-global-reach/

Huawei Forms Software Division
Chinese communications equipment provider Huawei has spun off its Application and Software Division into an independent business unit and named it Huawei Software.
http://www.chinatechnews.com/2008/05/29/6807-huawei-forms-software-division/



LOGISTICS

‘House full’ sign up at new berths in Yangshan port
Shanghai’s Yangshan port is currently in the splendid position where any new additional capacity that becomes available is immediately fully booked by shipping lines days in advance.
http://www.chinaeconomicreview.com/logistics/



MARKET WATCH

SHSZ 300: 3611.3330.46(+0.85)
Shanghai Composite: 3433.3531.92(+0.94)
SSE Component: 12048.24101.10(+0.85)

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BUSINESS

China able to expand over 8 for long time
CHINA'S economy can maintain a steady growth above 8 percent for a relatively long period because of a stable society, a vast market and ample capital, said Cheng Siwei, an economist and former vice chairman of the Standing Committee of the National People's Congress.
http://www.shanghaidaily.com/sp/article/2008/200805/20080528/article_361070.htm



FINANCE

Bank of America to raise its stake in China Construction Bank
BANK of America Corp. said yesterday it plans to raise its stake in China Construction Bank Corp. to nearly 11 percent.
http://www.shanghaidaily.com/sp/article/2008/200805/20080528/article_361115.htm

Hang Seng expands mainland presence
HANG Seng Bank Ltd is planning to double its local branch portfolio to 20 and expand its domestic network to 50 outlets by 2010, a senior official with the bank said yesterday in Shanghai.
http://www.shanghaidaily.com/sp/article/2008/200805/20080528/article_361021.htm

Foreign banks may offer funds to farmers easily
CHINA plans to make it easier for foreign banks such as HSBC Holdings Plc to set up rural operations as the government seeks to boost funding for farmers, said two people with knowledge of the matter.
http://www.shanghaidaily.com/sp/article/2008/200805/20080528/article_361064.htm



TECHNOLOGY

Alcatel-Lucent's Video Telephony Services Head To Beijing
lcatel-Lucent (ALU) has been selected by Beijing Netcom for a next-generation network service transformation in Beijing to provide a wide range of advanced services to its customers, such as point-to-point video telephony services.
http://www.chinatechnews.com/2008/05/28/6801-alcatel-lucents-video-telephony-services-head-to-beijing/



TELECOMS

IGRS To Be The First 3C International Standard From China
News from the China Beijing International High-Tech Expo is that China's Intelligent Grouping and Resource Sharing has passed a significant vote of the International Electrotechnical Commission and will formally become an international 3C standard.
http://www.chinatechnews.com/2008/05/27/6792-igrs-to-be-the-first-3c-international-standard-from-china/



LOGISTICS

French transportation giant enters China
FRANCE'S Veolia Transportation, Europe's largest transportation firm, has teamed up with Nanjing Zhongbei Group Co Ltd for its foray into the Chinese market.
http://www.shanghaidaily.com/sp/article/2008/200805/20080528/article_361020.htm

Yangtze Transport 2008 — accessing China’s interior
David Lammie at Yangtze Business Services provides news of their updated report on Yangtze river ports.
http://www.chinaeconomicreview.com/logistics/



MARKET WATCH

SHSZ 300: 3676.23100.03(+2.80)
Shanghai Composite: 3459.0383.62(+2.48)
SSE Component: 12313.66315.29(+2.63)

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BUSINESS

Yuan may be on fast track
THE yuan had the biggest weekly gain last week, a move some economists said may indicate the currency's appreciation pace is being put back on the fast track as authorities continue to use the exchange rate, among others, to tame inflation.
http://www.shanghaidaily.com/sp/article/2008/200805/20080526/article_360803.htm



FINANCE

ICBC targets bank in Hong Kong expansion bid
THE Industrial & Commercial Bank of China, the world's biggest by market value, is "seeking every opportunity" to expand in Hong Kong following a bid for the city's Wing Lung Bank.
http://www.shanghaidaily.com/sp/article/2008/200805/20080526/article_360799.htm



TECHNOLOGY

Alibaba Launches Financing Platform For Online Businesses
Chinese e-commerce provider Alibaba has announced an initiative to launch an online platform to help small and medium enterprises in China solve their difficulties in receiving financing.
http://www.chinatechnews.com/2008/05/26/6789-alibaba-launches-financing-platform-for-online-businesses/

China Travel Service Hong Kong Plans To List Mangocity.com
According to Xu Muhan, executive director and executive vice general manager of China Travel Service Hong Kong, the agency is planning to get it subsidiary Mangocity.com listed.
http://www.chinatechnews.com/2008/05/23/6779-china-travel-service-hong-kong-plans-to-list-mangocitycom/

Fujitsu To Sell Newfangled RFID Tags In China
Fujitsu and Fujitsu Frontech Limited announced at the Fujitsu International Forum 2008 that they would sell their super high frequency waterproof RFID tags in overseas markets, including China, starting May.
http://www.chinatechnews.com/2008/05/26/6790-fujitsu-to-sell-newfangled-rfid-tags-in-china/



TELECOMS

3G plates to be issued after revamp
CHINA told its six telecommunications companies to merge their assets, allowing fixed-line carriers to expand into wireless services and creating three operators that will offer phone and Internet connections to 1.3 billion people.
http://www.shanghaidaily.com/sp/article/2008/200805/20080526/article_360804.htm



LOGISTICS

ProLogis: two deals pending
ProLogis, a Colorado developer of distribution centers worldwide, has two major deals in the Pearl River Delta area of southeastern China.
http://www.chinaeconomicreview.com/logistics/



MARKET WATCH

SHSZ 300: 3559.22-115.93(-3.15)
Shanghai Composite: 3364.54-108.55(-3.13)
SSE Component: 11890.17-326.22(-2.67)

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BUSINESS

Factory output cools as rise in exports slows and costs up
CHINA'S industrial production showed further signs of cooling in April after export growth slowed and output costs rose, the National Bureau of Statistics said yesterday.
http://www.shanghaidaily.com/sp/article/2008/200805/20080515/article_359593.htm



FINANCE

Fund size under QFII jumps over 40
THE combined size of mutual funds managed by overseas institutions to trade yuan shares jumped by more than 40 percent last month as investors poured into the market which was bottoming out, an industry report disclosed yesterday.
http://www.shanghaidaily.com/sp/article/2008/200805/20080515/article_359571.htm

Recovering blue chips push index up at midday
SHANGHAI'S key stock index gained in the morning session today thanks to a recovery among blue chips in the banking and real estate sectors as investors took advantage of better valuations after recent declines.
http://www.shanghaidaily.com/sp/article/2008/200805/20080514/article_359518.htm



TECHNOLOGY

City poised to be high-tech hub
SHANGHAI plans to build a giant multi-media experience center next year and to improve Internet-based services for local residents.
http://www.shanghaidaily.com/sp/article/2008/200805/20080515/article_359612.htm

Google China Formally Launches New Ad Product
Google China has formally released its new online advertisement product Google AdSense for Chinese small and medium enterprises.
http://www.chinatechnews.com/2008/05/15/6745-google-china-formally-launches-new-ad-product/

RFID Chips Adopted For Door Ticket Of Beijing Olympic Games
According to Beijing Municipal Science and Technology Commission, a total of more than 16 million tickets embedded with RFID chips will be used during the Beijing Olympic Games and this is the first time that RFID has ever been used for the Olympic Games.
http://www.chinatechnews.com/2008/05/15/6744-rfid-chips-adopted-for-door-ticket-of-beijing-olympic-games/



LOGISTICS

UBS sees a financial gap in railway investment
In China Securities Journal Wei Qiang, vice-director of UBS Securities, is reported as saying the railway sector will see an annual investment gap of RMB200 billion ($28.60 billion) in three years.
http://www.chinaeconomicreview.com/logistics/



MARKET WATCH

SHSZ 300: 4005.1529.37(+0.74)
Shanghai Composite: 3676.8819.45(+0.53)
SSE Component: 13619.1286.78(+0.64)

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BUSINESS

China's trade surplus slows to US$16.7b in April
CHINA'S trade surplus continued to slow in April, down about 1 percent from a year earlier to US$16.7 billion, the General Administration of Customs said on its Website today.
http://www.shanghaidaily.com/sp/article/2008/200805/20080512/article_359239.htm

Economic census to lay ground for macro plans
Vice Premier Li Keqiang said on Monday the second national economic census was essential to promote the strategic and structural adjustment of the economy, highlighting the concerted efforts of relevant government organs to accomplish the task.
http://english.people.com.cn/90001/90776/90884/6408968.html



FINANCE

Invalid stock accounts cleared from exchange
MORE than 120,000 invalid accounts have been terminated from the securities exchange system today as part of a campaign to crack down on illegal trading, according to China's securities regulator.
http://www.shanghaidaily.com/sp/article/2008/200805/20080512/article_359238.htm

Market dips at midday as inflation rebounds
SHANGHAI'S key stock index dropped in the morning session today after a report by the National Bureau of Statistics showed inflation rebounded last month.
http://www.shanghaidaily.com/sp/article/2008/200805/20080512/article_359234.htm



TECHNOLOGY

Alibaba Plans To Launch B2B Computer
Chinese e-commerce website company Alibaba has announced a partnership with Intel (INTC) to launch a kind of special computer to meet the e-commerce demand of small and medium enterprises in China.
http://www.chinatechnews.com/2008/05/13/6734-alibaba-plans-to-launch-b2b-computer/



TELECOMS

3G to gallop after the Olympics — perhaps
It is a great pity that China did not get its 3G services sorted out properly before the Olympics.
http://www.chinaeconomicreview.com/it/



MARKET WATCH

SHSZ 300: 3864.79-40.13(-1.03)
Shanghai Composite: 3564.54-62.44(-1.72)
SSE Component: 13160.06-6.04(-0.05)

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BUSINESS

China's inflation soars to 8.5 in April
CHINA'S inflation rate accelerated at a pace of 8.5 percent in April, the National Bureau of Statistics announced this morning.
http://www.shanghaidaily.com/sp/article/2008/200805/20080512/article_359230.htm

Country's own jumbo jet company takes off
CHINA launched its first jumbo jet company in Shanghai yesterday, with the aim of developing it into a globally competitive aircraft manufacturer.
http://www.shanghaidaily.com/sp/article/2008/200805/20080512/article_359224.htm

Companies investing overseas
CHINESE companies' foreign investments jumped more than fourfold in the first quarter as the government encouraged spending overseas to help cut a surging trade gap.
http://www.shanghaidaily.com/sp/article/2008/200805/20080512/article_359165.htm

China's exporters confront drastic decline in growth on weak demand
WEAK external demand may cut China's export growth to 10 percent this year compared to the 25.7-percent jump in 2007, a research unit under the Ministry of Commerce has said.
http://www.shanghaidaily.com/sp/article/2008/200805/20080512/article_359163.htm



FINANCE

Stocks feel heat as interest hike looms
SHANGHAI stocks will again be under pressure this week as high inflation data could lead to a fresh interest rate hike.
http://www.shanghaidaily.com/sp/article/2008/200805/20080512/article_359183.htm

ABC says time for revamp right
AGRICULTURAL Bank of China President Xiang Junbo said the time is right for the restructuring of the lender, saddled with US$100 billion of bad loans.
http://www.shanghaidaily.com/sp/article/2008/200805/20080512/article_359186.htm



TECHNOLOGY

Sales of MP3, MP4 musical players decline in Chinese market in Q1
Sales of MP3 and MP4 musical players in China saw sharp decline in the first quarter, Beijing-based CCIDC Consulting company said in its report.
http://english.people.com.cn/90001/90776/90884/6408692.html

China's smartphone market booms in Q1, sales up 4.8
Sales of smartphone in Chinese market in the first quarter increased 4.8 percent compared with the fourth quarter last year.
http://english.people.com.cn/90001/90776/6408262.html



LOGISTICS

Automating China’s supply chain
For its next major push forward China has got to get its logistics right. And it is doing it through desperately needed improvements to the transport infrastructure and the use of tehnology to control the movements of goods.
http://www.chinaeconomicreview.com/logistics/



MARKET WATCH

SHSZ 300: 3847.25-77.79(-1.98)
Shanghai Composite: 3586.26-70.58(-1.93)
SSE Component: 13019.25-298.28(-2.24)

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BUSINESS

China-Singapore Tianjin Eco-city to be set up
The China-Singapore Tianjin Eco-city is scheduled to break ground this July and due to complete within 10 to 15 years, of which a pilot area of three square kilometers will be completed within three to five years, according to xinhuanet.
http://english.people.com.cn/90001/90776/90884/6407102.html



FINANCE

Weakness in financial sector sends index down
SHANGHAI'S key stock market dropped this morning as financial shares and electricity producers declined.
http://www.shanghaidaily.com/article/?id=358635



TECHNOLOGY

Finet Group Breaks Into Chinese Internet Games Sector
Chinese financial publisher Finet Group says it sees big hopes in the Chinese online gaming sector and has now launched its own foray into that sector.
http://www.chinatechnews.com/2008/05/08/6717-finet-group-breaks-into-chinese-internet-games-sector/

Kingsoft Invests RMB10 Million To Set Up JV Game Company
Chinese software provider Kingsoft has announced to invest RMB10 million to set up a game development joint venture with Alchemy, an online game developer in China.
http://www.chinatechnews.com/2008/05/08/6715-kingsoft-invests-rmb10-million-to-set-up-jv-game-company/

Google in new tie-up
Google Inc and Chinese software company Kingsoft have announced a co-branding initiative to tap China's booming online market by launching a Web-based dictionary.
http://english.people.com.cn/90001/90776/90884/6407299.html



MARKET WATCH

SHSZ 300: 3847.25-77.79(-1.98)
Shanghai Composite: 3586.26-70.58(-1.93)
SSE Component: 13019.25-298.28(-2.24)

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BUSINESS

China has enough grain to keep prices steady, says planner
CHINA has enough stockpiles to keep domestic grain prices stable and feed its 1.3 billion people, the country's top economic planning body said today.
http://www.shanghaidaily.com/sp/article/2008/200805/20080506/article_358508.htm

Most of world's top companies invest in China
Almost 480 of the Fortune 500 companies have invested in China during the past 30 years, Du Ying, deputy minister in charge of the National Development and Reform Commission said here on Monday.
http://english.people.com.cn/90001/90776/90884/6404579.html

US firms eyeing Shanghai
An increasing number of US companies want to list in Shanghai and work with the Chinese authorities on the feasibility of doing so is ongoing, NYSE Euronext Inc CEO Duncan Niederauer has said.
http://english.people.com.cn/90001/90776/90884/6405446.html



FINANCE

Positive signals boost market
The mainland stock market rose 1.84 percent yesterday after the four-day labor holiday break, boosted by positive signals from the government to support the market.
http://english.people.com.cn/90001/90776/90884/6404629.html

China's securities firms get fat profits in 2007
Net profits for China's securities firms increased almost four-fold to hit 137.65 billion yuan (19.7 billion U.S. dollars) in 2007, according to statistics from Securities Association of China (SAC).
http://english.people.com.cn/90001/90776/90884/6404575.html



TECHNOLOGY

Chinese iPhone deal seems close
APPLE Inc has developed handwriting recognition functions for the Chinese language on iPhone ahead of its expansion into China, the world's largest cell phone market.
http://www.shanghaidaily.com/sp/article/2008/200805/20080507/article_358566.htm

Alimama Will Launch New Online Advertising Model
Alimama, a new service of Chinese e-commerce provider Alibaba, says it will launch a new online advertisement product in the middle of this month.
http://www.chinatechnews.com/2008/05/07/6708-alimama-will-launch-new-online-advertising-model/



MARKET WATCH

SHSZ 300: 3952.45-58.43(-1.46)
Shanghai Composite: 3691.95-41.55(-1.11)
SSE Component: 13504.67-197.88(-1.44)

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BUSINESS

Economy forecast to grow 10.8 in Q2
CHINA'S economy will likely grow 10.8 percent in the second quarter, rebounding 0.2 percentage point from that in the first three months, the State Information Center forecast in a report published today.
http://www.shanghaidaily.com/sp/article/2008/200805/20080506/article_358498.htm

Hint of new measures to prevent overheating
CHINA'S economy is at risk of overheating and policy makers may raise interest rates and do more to soak up the cash flooding the financial system, officials said.
http://www.shanghaidaily.com/sp/article/2008/200805/20080506/article_358445.htm

Growth in exports set to drop to 10
WEAK external demand is set to pull down China's export growth to 10 percent after the 25.7 percent jump in 2007, a research unit under the Ministry of Commerce said.
http://www.shanghaidaily.com/sp/article/2008/200805/20080506/article_358427.htm



FINANCE

Listed firms told to tighten equity options
LISTED firms have been told to set stricter thresholds over equity options owned by senior management as part of moves to prevent illegal benefit transfers, the China Securities Regulatory Commission has reportedly said.
http://www.shanghaidaily.com/sp/article/2008/200805/20080506/article_358501.htm

Copper falls in Shanghai on weak demand
Copper futures fell in Shanghai on the first trading day after a national holiday on signs Chinese buyers are holding back amid ample local supplies and high world prices.
http://english.people.com.cn/90001/90776/90884/6404663.html



TECHNOLOGY

Alibaba hit by aborted Yahoo bid
ALIBABA.COM Ltd, China's largest online commerce company, fell the most in three weeks in Hong Kong trading after Microsoft Corp ended its bid to buy Yahoo! Inc, the biggest shareholder in the Chinese company's parent.
http://www.shanghaidaily.com/sp/article/2008/200805/20080506/article_358407.htm

CMMB Lands In Beijing, Shanghai And Shenzhen
News from China's State Administration of Radio, Film and Television is that China Mobile Multimedia Broadcasting will soon be put into commercial use on a trial basis in the three Chinese cities of Beijing, Shanghai and Shenzhen and seven programs will be available free of charge during the trial use period.
http://www.chinatechnews.com/2008/05/06/6704-cmmb-lands-in-beijing-shanghai-and-shenzhen/



MARKET WATCH

SHSZ 300: 4010.89-44.89(-1.11)
Shanghai Composite: 3733.50-27.51(-0.73)
SSE Component: 13702.55-158.22(-1.14)

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BUSINESS

Companies count costs of helping environment
CHINESE manufacturers have seen their costs for environmental protection rise since the government raised the standards over the past year.
http://www.shanghaidaily.com/article/?id=358296

Rise in CPI set to slow in April
THE slower rise in China's main inflation indicator is set to continue in the April figures, thanks to falling farm produce prices, market analysts said yesterday.
http://www.shanghaidaily.com/article/?id=358284

Slower rise in currency
THE yuan rose at the slowest pace in April, indicating that the currency may slow its momentum after a rapid appreciation in the first quarter.
http://www.shanghaidaily.com/article/?id=358295



FINANCE

'Red' May period
THE key Shanghai index is likely to touch 4,000 points this week as the stock market has entered what is called a ''red'' May, analysts predicted.
http://www.shanghaidaily.com/article/?id=358293



TECHNOLOGY

Tudou.com To Set Up Branch In Chengdu
Tudou.com, one of the main online video service providers in China, has announced the completion of the fourth round of its financing and said that it will set up a branch in Chengdu within the year.
http://www.chinatechnews.com/2008/04/29/6686-tudoucom-to-set-up-branch-in-chengdu/

Xiaonei.com Gains Investment From Softbank
Chinese Web 2.0 company Oak Pacific Interactive's Xiaonei.com announced on the cusp of the Chinese May 1 Labor Day holiday that its hard work had paid off in the amount of a US$430 million infusion of capital.
http://www.chinatechnews.com/2008/05/05/6694-xiaoneicom-gains-investment-from-softbank/

Software industry piracy rate drops again
China's software industry piracy rate dropped four percentage points in 2007, according to sources from "2007 China's software piracy rate survey" assessment meeting held by the State Intellectual Property Office recently.
http://english.people.com.cn/90001/90776/90884/6403240.html


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