JLM Pacific Epoch: JL McGregor & Company's China business headlines and commentary

Suntech Pens 500MW Ningxia Framework

Fri, 10 Jul 2009 11:30:58 GMT

Photovoltaic (PV) module manufacturer Suntech Power Holdings (NYSE:STP) signed a framework agreement Thursday to establish a 500MW PV base in Shizuishan Ningxia province, reports xinhuanet.com. Suntech plans to invest RMB 8 billion in the base, which is projected to reach annual production value...

Suning Launches B2C Site in Selected Cities

Fri, 10 Jul 2009 11:20:47 GMT

Chinese home appliances and electronics retailer Suning (002024.SZ) launched a business to consumer (B2C) store at suningshop.com July 9, Beijing Business Today reports. The service is available in 32 Chinese cities including Beijing, Shanghai, Shenzhen, Guangzhou and Nanjing. Consumers purchasing...

Solar Industry: LDK Solar Q2 Update

Fri, 10 Jul 2009 11:12:51 GMT

China Announces RMB 1T, 2020 Wind Target

Fri, 10 Jul 2009 10:40:20 GMT

China aims to invest a total of RMB 1 trillion to establish seven wind power bases with combined capacity of 120GW before 2020, reports bhi.com.cn. The bases will have capacity of 10GW or more each and be located in Jiuquan, Gansu province; Hami, Xinjiang Uygur Autonomous Region; Inner Mongolia Autonomous...

DHgate on Stats, UPS Partnership

Fri, 10 Jul 2009 10:38:34 GMT

Beijing-based business-to-business e-commerce site DHgate.com recorded transaction volume of RMB 1 billion in the first half of 2009, and the site currently has 400,000 domestic sellers and nearly 3 million buyers from 230 countries and regions, reports China Securities Journal. DHgate.com signed...

Retail: Metro to Invest €80M in '09 for 4 New Stores

Fri, 10 Jul 2009 10:38:13 GMT

Retail and wholesale corporation Metro (FRA:MEO) plans to invest an additional €80 million to open four stores in 2009, in Changshu and Kunshan, both in Jiangsu province, and Hangzhou and Ningbo, both in Zhejiang province, reports China Daily quoting Metro President Cai Letian. Metro...

China Predicts '09 GDP Up 8%, CPI Down 0.5%

Fri, 10 Jul 2009 10:35:52 GMT

The State Information Center predicts China's gross domestic product (GDP) this year will increase 8% year-on-year, National Business Daily reported July 10. According to the report, the country's consumer price index (CPI) for 2009 is expected to decrease 0.5% year-on-year, while producer price index...

Baidu to Rehaul Statistics Service in August

Fri, 10 Jul 2009 10:35:50 GMT

Baidu (Nasdaq:BIDU) announced July 7 that it will close its statistics service channel tongji.baidu.com from July 28 and a new version in mid-August. Users are recommended to backup data as they will not be automatically transferred into the new version.

China WindPower Project Takes Total Capacity to 8GW

Fri, 10 Jul 2009 10:34:55 GMT

China WindPower Group Limited (182.HK) announced July 8 that it signed an exclusive agreement with Fuxin, Liaoning Province on June 30 to develop wind power projects with combined capacity of 500MW, following two other projects in Fuxin's Fumeng and Zhangwu counties. The new agreement will...

Tencent: New Alpha of Punch Monster

Fri, 10 Jul 2009 10:32:50 GMT

Tencent (700.HK) plans to start the second round of alpha testing of its 2D side-scrolling casual game Punch Monster (QQ Xian Jing) on July 14. The game entered alpha testing on December 29, 2008.

Kingsoft Slates CB Test of "Chun Qiu" Sister

Fri, 10 Jul 2009 10:31:04 GMT

Kingsoft (3888.HK) plans to start closed beta testing of its new 2D Q-Style Chinese fantasy MMORPG Chun Qiu Wai Zhuan on July 16. A sister game to Kingsoft's CQ ("Chun Qiu Q Zhuan"), Chun Qiu Wai Zhuan started first-round alpha testing on May 15.

China Digital TV: Q2 Shipments Short of Guidance

Fri, 10 Jul 2009 10:25:45 GMT

China Digital TV Holding Co (NYSE:STV) announced Friday that its shipments of smart cards in the second quarter of 2009 have come in at 2.13 million, below previous guidance of 2.35 million to 2.55 million. Cable operators are choosing to delay digitization projects due to tight credit and consolidation...

Cisco Sets Up Second Jiangsu Branch

Fri, 10 Jul 2009 10:25:25 GMT

Network equipment and management supplier Cisco ([b]Nasdaq:CSCO[b/]) established its second Jiangsu province branch in Suzhou on July 8, reports Jiangnan Times. Home to Cisco's WebEx Communications division, the branch will hold more than 200 technology and some sales employees, and will develop and...

Gome in Music Copyright Suit

Fri, 10 Jul 2009 10:24:52 GMT

Home appliance and electronics retailer Gome (493.HK), along with DVD player and mobile handset manufacturer Malata, is facing a lawsuit for copyright infringement, chinacourt.org reported July 9. Taiwanese music company Rock Records & Tapes is seeking RMB 1.01 million from the two companies,...

GAPP Targets RMB 75B '09 Digital Publishing Rev

Fri, 10 Jul 2009 10:21:44 GMT

The General Administration of Press and Publications (GAPP) Vice Director Sun Shoushan said China's digital publishing industry may generate revenues of RMB 75 billion in 2009, up 46% year-on-year, Economic Information Daily reported July 8. China's mobile publishing revenues doubled in 2008, Sun said....

SNS Site Kaixin001 Hits 30M Users

Fri, 10 Jul 2009 10:20:55 GMT

Beijing-based social networking service (SNS) site Kaixin001.com had recorded 30 million users by June, reports Changjiang Times. The site had more than 20 million users and 700 million page views by April.

Jinggong Technology on Silicon Furnace Orders

Fri, 10 Jul 2009 10:06:31 GMT

Zhejiang-based equipment manufacturer Jinggong Science & Technology (002006.SZ) has signed orders for 78 multicrystalline silicon ingot furnaces and sold 11 units to date, reports solarbe.com. The company signed a RMB 56 million contract to sell 20 multicrystalline silicon ingot furnaces to Inner...

SNS Site iPart: 20M Users, 300% Rev Growth

Fri, 10 Jul 2009 10:05:18 GMT

Taiwan-based social networking service (SNS) site iPart has 20 million users and has recently seen revenue grow by a rate of 300%, reports qq.com quoting iPart CEO Zhang Jiaming on July 9. Reports in December 2008 said that...

Source: Digital China VP to be IT Co CEO

Fri, 10 Jul 2009 10:00:38 GMT

Beijing-based IT solutions provider Digital China Holdings Limited (861.HK) has confirmed that Senior Vice President Mao Xiangqian has submitted his resignation, reports qq.com. Mao plans to join China's second largest IT distributor ECS Technology (China) Ltd as CEO, according to an unnamed source. Mao...

Changyou Sues Kylin for "TLBB" Copyrights

Thu, 09 Jul 2009 12:00:28 GMT

Sohu's (Nasdaq:SOHU) MMORPG subsidiary Changyou.com (Nasdaq:CYOU) is suing Beijing-based Kylin Game, claiming that Kylin Game's MMORPG Chengjisihan (Genghis Khan) used source code from Changyou's in-house developed 2.5D MMORPG Tian Long Ba Bu (TLBB), Sina reported July 8....

Special Report: Misplaced Hysteria Over Hangzhou Housing

Thu, 09 Jul 2009 11:47:51 GMT

Ericsson: New China Teleco Orders at $1.7B

Thu, 09 Jul 2009 11:40:55 GMT

Ericsson (Nasdaq:ERIC) signed framework agreements July 8 with China Mobile (NYSE:CHL, 941.HK) and China Unicom (NYSE:CHU, 762.HK, 600050.SH) to provide mobile communication equipment and services worth RMB 6.8 billion ($1 billion) and RMB 4.8 billion ($700 million)...

China Construction Plans RMB 42B IPO

Thu, 09 Jul 2009 11:30:50 GMT

Chinese home builder China State Construction Engineering Corporation plans to issue an initial public offering (IPO) in Shanghai in August this year, reports China Daily. China Construction plans to raise as much as RMB 42.6 billion through an issue of 12 billion shares. One-tenth of the shares have...

Greentown Inks 2nd Zhejiang JV in Two Days

Thu, 09 Jul 2009 11:30:26 GMT

Hangzhou-based real estate developer Greentown China Holdings (3900.HK) announced July 8 that its wholly owned subsidiary Greentown Real Estate plans to take 60% interest in a joint venture it will set up with Xiangsheng Real Estate and Zhongyi Group, which will own 30% and 10% of the remaining...

Poly Real Estate H1 Sales Exceed RMB 20B

Thu, 09 Jul 2009 11:20:20 GMT

Guangzhou-based Poly Real Estate Group (600048.SH) recorded contract sales for the first half of 2009 of RMB 21.05 billion on about 2.52 million square meters, up 168.18% and 164.41%, respectively, the company announced July 9. June contract sales were roughly RMB 6.34 billion on about 703,000...

Tencent Launches Left-Hand "CF," Promos "QQ Speed"

Thu, 09 Jul 2009 11:00:37 GMT

Tencent (700.HK) released the new version, "Zuo Shou Zu Shen," of its licensed first-person shooter Cross Fire (CF) on Thursday. The version adds the ability to hold a gun in the left hand, as well as new virtual maps, items and weapons. Tencent is also offering virtual salary giveaways...

For Profit Education: New Oriental (EDU) June Update

Thu, 09 Jul 2009 11:00:17 GMT

Li Ning Acquisitions, Partnerships

Thu, 09 Jul 2009 10:44:25 GMT

Chinese sports brand enterprise Li Ning (2331.HK) has wholly acquired badminton equipment manufacturer Kason Sports (Hong Kong) for RMB 165 million, Li Ning announced July 6. The "Kason" brand was established in 1991. Li Ning and Shanghai-based online payment service provider 99Bill have teamed...

Spencer: Ecotality - Plugging In to China's Fledgling Electric Car Market

Thu, 09 Jul 2009 10:42:53 GMT

In February, I highlighted concerns that a lack of charging stations may stymie development of China�s fledgling electric car market. However, the recent announcement of a joint venture between Ecotality (OTC:ETLY) and Shenzhen...

IBM HK to Wholly Acquire Great Wall JV

Thu, 09 Jul 2009 10:40:46 GMT

IBM (NYSE:IBM) Hong Kong intends to buy out Great Wall Computer's (000066.SZ) 20% stake in International System Technology Corporation (ISTC), a joint venture between IBM and Great Wall Computer, according to a Thursday announcement. IBM will hold 100% stake in the JV after the deal.

Guodian Plans 300MW Ningxia Project

Thu, 09 Jul 2009 10:35:38 GMT

China Guodian Corporation's Ningxia subsidiary agreed to construct a 300MW photovoltaic power project in the Hongsibao economic development zone in Wuzhong, Ningxia autonomous region, in-en.com reported July 9. The subsidiary signed a letter of intent to invest RMB 6 billion in the project, said the...

Shiji Tiancheng: Pirates Strike in "Kart Rider" Version

Thu, 09 Jul 2009 10:34:24 GMT

Shanghai-based online game company Shiji Tiancheng released an expansion pack for its licensed 3D Q-style racing game Kart Rider, "Haidao Laixi," (roughly, "Pirate Raid") on July 9. Shiji Tiancheng launched three pirate-themed promotional activities the same day.

Vodafone Picks Huawei as Czech 2G/3G Supplier

Thu, 09 Jul 2009 10:33:01 GMT

Vodafone (NYSE:VOD) and Huawei jointly announced July 9 that Vodafone has selected Huawei as the exclusive supplier for its 2G/3G networks in the Czech Republic. As outlined in the contract, Huawei will begin its expansion of Vodafone's 3G network in Prague and Brno, and will also update and expand...

China National Software: H1 Revenues May Halve

Thu, 09 Jul 2009 10:32:23 GMT

China National Software & Service (600536.SH) estimates that its net profits in the first half of this year may drop by more than 50% compared to profit of RMB 21.01 million in the year-ago period, the company announced July 9. According to the announcement, the drop is attributable to lowered...

Evolution Solar Exploring China Opportunities

Thu, 09 Jul 2009 10:31:06 GMT

Evolution Solar Corporation (PinkSheets:EVSO) has sent representatives to China to seek out strategic relationships with domestic solar companies, as well as a location for its new Chinese headquarters, the company announced July 7. Company CEO Robert Kaapke said Evolution Solar is looking to...

A-Shares Up, June Loans Topped RMB 1.5T

Thu, 09 Jul 2009 10:30:43 GMT

The Shanghai Composite Index climbed 1.37% to close at 3,123.04, while the Shenzhen Composite Index grew 1.75% to close at 1,037.59 on Thursday. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 184.34 billion and RMB 96.34 billion, respectively. Shares of electronics companies...

Datang in Talks for 20% Stake Sale

Thu, 09 Jul 2009 10:28:50 GMT

Insiders say telecom equipment provider Datang Telecom (600198.SH) may issue new shares to China's National Social Security Fund, worth 20% of its share capital, China Daily reported July 9. The source said that a price tag has yet to be settled but may lie between RMB 2.5-3 billion, and that...

Skyworth Digital Profit, Rev Up

Thu, 09 Jul 2009 10:25:59 GMT

Chinese electronics manufacturer Skyworth Digital (751.HK) reported profits of HK$460 million for the full year ending March 31, 2009, compared to profits of HK$457 million the previous year. Turnover from continuing operations grew 12.5% year-on-year to HK$15.33 billion, 87.8% of which was generated...

Update: Aeon's MiniStop Details 5Yr Plan

Thu, 09 Jul 2009 10:25:15 GMT

Japanese retailer Aeon's (8267.TYO) convenience store subsidiary "MiniStop" (Qingdao) plans to open 200 stores in Shandong province during the next five years, Qingdao Financial Daily reported July 9. MiniStop (Qingdao), which was established in January plans to open 10 stores in 2009, 50 stores...

Gwynn: Will NetEase Please With WoW?

Thu, 09 Jul 2009 10:24:19 GMT

This Seeking Alpha article on NetEase (Nasdaq:NTES) by Zhang Xiaofan � a blogger with whom I�m not familiar � brings up the useful point that NTES�s share price tracked closely with the PCU of its...

BOE Anticipates H1 RMB 800M Loss

Thu, 09 Jul 2009 10:23:13 GMT

LCD panel producer BOE (000725.SZ) announced July 9 that it expects a net loss of RMB 700-800 million in the first half of 2009, blaming low prices for its main products in the period. BOE recorded a net profit of RMB 504.96 million in the first six months of 2008, according to the report. In...

Gemdale H1 Sales Hit RMB 8.5B

Thu, 09 Jul 2009 10:21:37 GMT

Shenzhen-based real estate developer Gemdale (600383.SH) reported June revenues of RMB 1.92 billion from sales of 167,200 square meters, up 47.61% and 51.18% year-on-year, respectively. Gemdale sold a total of 844,700 square meters for RMB 8.58 billion in the first six months of 2009, up 77.46%...

Hohhot Aims to be Silicon, Solar Power Hotbed

Thu, 09 Jul 2009 10:20:33 GMT

Inner Mongolia Sunnergy, Shenzhen Silicon and Dalu Polysilicon, all based in Hohhot, Inner Mongolia, are together expected to reach annual capacities of 4,000 metric tons (MT) of monocrystalline silicon and 7,500MT of polysilicon in 2009, as well as complete a 5MW demonstrative solar power plant, reports...

Jingdu Breaks Ground on RMB 466M Si Project

Thu, 09 Jul 2009 10:17:46 GMT

Shanxi-based Jingdu Solar Co began construction of a monocrystalline silicon project in Shuozhou, Shanxi province on Thursday that is expected to reach production value of RMB 3 billion, reports taiyanggonggong.com. Initially, Jingdu Solar intends to invest RMB 466 million in the project to reach...

Classified Ad Portal 58.com on User Stats

Thu, 09 Jul 2009 10:10:14 GMT

Beijing-based classified ad portal 58.com has recorded 800 million monthly page views, reports China Economic Times. 58.com has 10 million registered users and gains roughly 50,000 new users per day. Reports in January said...

Baidu to Host Perfect World's "Dance Party"

Wed, 08 Jul 2009 11:50:36 GMT

Baidu's (Nasdaq:BIDU) online forum channel Baidu Post Bar has partnered with game company Perfect World (Nasdaq:PWRD) and plans to begin closed beta testing of a "Baidu version" of Perfect World's in-house developed 3D casual game Hot Dance Party on July 16. Baidu users can...

Insider: Sina Invests in Online Games

Wed, 08 Jul 2009 11:40:41 GMT

An unnamed industry insider said Sina (Nasdaq:SINA) has been investing in online game companies and has already seen in-house developed games released to the public, DoNews reported July 8. The report cited industry rumors saying Sina has invested in Beijing-based online game company Zhixinheng...

The9 to Exhibit First In-House MMO

Wed, 08 Jul 2009 11:35:51 GMT

The9 (Nasdaq:NCTY) plans to display its first in-house developed MMORPG, MUX, at Shanghai's China Digital Entertainment Expo & Conference (ChinaJoy) on July 23, reports 17173.com. The game's Chinese name will also be announced at ChinaJoy, the report said.

Mengniu Dairy Stake Sale Totals HK$3B

Wed, 08 Jul 2009 11:00:58 GMT

Mengniu Dairy (2319.HK) announced July 5 that it will receive net proceeds of approximately HK$3 billion through the sale of 11.13% of its existing shares and 10.01% of its enlarged issue share capital to COFCO and HOPU Investment Management. COFCO and HOPU plan to establish a special purpose...

Baidu COO: Taiwan Still Attractive

Wed, 08 Jul 2009 10:53:48 GMT

Baidu (Nasdaq:BIDU) is interested in entering the Taiwanese market and may expand into the island market after some research, Sina reported July 8 quoting Baidu Chief Operating Officer Ye Peng. Baidu CEO Robin Li told an audience in Taipei in 2008 that Baidu sees Taiwan as a potential market,...

Hoku and Tianwei Shave Long-Term Poly Contract

Wed, 08 Jul 2009 10:45:19 GMT

Hoku Scientific's (Nasdaq:HOKU) polysilicon subsidiary Hoku Materials, Inc., and Tianwei New Energy (Chengdu) Wafer Co., a subsidiary of Tianwei New Energy Holdings, announced July 6 that they have amended two supply contracts to make the following changes: -- The long-term contract price...

Taobao Sets Up Beijing Subsidiary

Wed, 08 Jul 2009 10:42:43 GMT

Alibaba's consumer-focused e-commerce site Taobao.com said July 8 that it has officially established a Beijing subsidiary headed by General Manager Wu Yongming, reports Sina. The subsidiary will have a staff of more than 300, said the report. Formerly general manager of online advertising exchange platform...

Greentown Takes 90% of Zhejiang Developer JV

Wed, 08 Jul 2009 10:42:37 GMT

Real estate developer Greentown China Holdings (3900.HK) announced July 7 that its wholly owned subsidiary Greentown Real Estate will invest RMB 270 million to assume a 90% stake in a property development and operation joint venture with Yuedu Investment, a subsidiary of Zhuji City State Asset...

LDK, Qinghai Govt Agree Solar Projects

Wed, 08 Jul 2009 10:40:49 GMT

Jiangxi-based multicrystalline wafer maker LDK Solar (NYSE:LDK) signed a framework agreement with the Qinghai provincial government July 6 under which LDK Solar will establish a solar power plant, a 500MW per annum module project, and construct solar rooftop projects, taiyanggonggong.com reports.

Shimao Property Reports RMB 13.15B in H1 Sales

Wed, 08 Jul 2009 10:40:27 GMT

Hong Kong-based Shimao Property Holdings (813.HK) announced July 7 that its contracted sales totaled RMB 13.15 billion on an area of 1.46 million square meters in the first six months, up 200% and 236% from the same period of 2008, respectively. Shimao Property has so far achieved 77% of its sales...

Suntech COO Resigns, Search for Substitute

Wed, 08 Jul 2009 10:40:15 GMT

Photovoltaic (PV) module manufacturer Suntech Power Holdings (NYSE:STP) announced July 7 that company Chief Operating Officer Johnson Chiang has resigned from his post for personal reasons, effective July 3. Vice President of Manufacturing Technology and Quality Guangchun Zhang will oversee crystalline...

Alipay Tailors New Product to Large Payments

Wed, 08 Jul 2009 10:38:23 GMT

Alibaba Group's online payment subsidiary Alipay said Tuesday that it plans to release a payment product for large transactions in late July, reports cnet.com.cn. Alipay will examine and verify sellers before they begin using the service, the report said. Alipay announced July 6 that it had exceeded...

Update: Giant Webgame Alpha Begins

Wed, 08 Jul 2009 10:38:10 GMT

Shanghai-based online game company Giant Interactive (NYSE:GA) began technology alpha testing of its first webgame, The Golden Land, on July 8. Giant announced the release of the game's official site at gd.ztgame.com...

Vanke Beats Out Poly, Gemdale for Wuhan Land

Wed, 08 Jul 2009 10:36:49 GMT

Real estate developer Vanke (000002.SZ, 200002.SZ) secured a 24.27-hectare residential land parcel in Wuhan, Hubei province, on July 7 with a bid of RMB 727.5 million, RMB 340 million more than the offering price, reports guandian.cn quoting media sources. Shenzhen-based real estate developer...

Shanda Licensed New Kungfu MMO

Wed, 08 Jul 2009 10:36:09 GMT

Shanda (Nasdaq:SNDA) licensed 3D martial arts MMORPG World of Kungfu from Shanghai-based online game company Dacheng Network for Mainland operation on July 8. The game was previously operated by Shanghai-based online game company Tengren Information Technology.

China Housing Q2 Sales Expand 50% QoQ

Wed, 08 Jul 2009 10:35:02 GMT

China Housing & Land Development (Nasdaq:CHLN) announced July 7 that sales contracts in the second quarter of 2009 totaled 33,140 square meters for RMB 164.2 million ($23.9 million), compared to sales contracts with a total are of 22,358 square meters and valued at RMB 107.2 million ($15.6 million)...

Hisense, Xoceco Forecast Healthy H1 Balances

Wed, 08 Jul 2009 10:33:21 GMT

Home electronics manufacturer Hisense Electric (600060.SH) anticipates a more than 50% year-on-year increase in net profit in the first half of 2009 due to strong growth in sales of flat panel TV sets and its release of three new TV LCD module products, the company announced July 7. Hisense recorded...

Real Estate: SRE H1 Sales Hit RMB 2.75B

Wed, 08 Jul 2009 10:32:47 GMT

Shanghai-based property developer SRE Group Limited (1207.HK) announced July 8 that it sold about 148,000 square meters in the first six months of 2009, up 64.3% year-on-year, to generate revenues of RMB 2.75 billion, up 111.2% year-on-year, reports guandian.cn. The company's land reserves...

China Mobile to Sell 1M CMMB Handsets in H209

Wed, 08 Jul 2009 10:31:48 GMT

China Mobile (NYSE:CHL, 941.HK) plans to offer nearly one million handsets installed with the State Administration of Radio, Film and Television's (SARFT) China Mobile Multimedia Broadcasting (CMMB) TV function in the second half of 2009, 163.com reports. The report said the phones, which...

A-Shares Flat, COFCO Bulks Up on Mengniu Purchase

Wed, 08 Jul 2009 10:30:36 GMT

The Shanghai Composite Index dipped 0.28% to close at 3080.77, while the Shenzhen Composite Index inched up 1.15% to close at 1019.79 on Wednesday. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 170.73 billion and RMB 81.83 billion, respectively. Shares of COFCO Property...

Vimicro Revs Slide Thru Q4, Bottom Out in Q1

Wed, 08 Jul 2009 10:28:32 GMT

Fabless semiconductor company Vimicro International Corporation (Nasdaq:VIMC) announced net revenue of $22.2 million for the fourth quarter of 2008, down from $24.3 million in the year-ago period and $24.9 million in the previous quarter. Vimicro recorded a net loss of $8.3 million, compared to...

Aeon Opens First China Ministop Store

Wed, 08 Jul 2009 10:25:23 GMT

Japanese retailer Aeon (8267.TYO) opened its first China "MiniStop" convenience store in Qingdao, Shandong province on July 8, reports City Sun. Aeon has more than 3,000 "MiniStop" stores in Korea, Japan and the Philippines.

MIIT on Huawei, ZTE R&D, Domestic Telecom Fees

Wed, 08 Jul 2009 10:25:13 GMT

Huawei and ZTE's (000063.SZ) research and development expenditure is equal to more than 10% of their respective sales revenues, reports www.gov.cn quoting Ministry of Industry and Information (MIIT) Vice Minister Lou Qingjian on July 7. China's communication fees...

Netsun Toocle Clothes Site Acquires Fashion Community

Wed, 08 Jul 2009 10:23:13 GMT

Business-to-business e-commerce clothing site efu.com.cn confirmed that it has acquired 51% stake in Shenzhen-based fashion industry community EEFF.cn, reports Sina. Zhejiang Netsun Toocle (002095.SZ) spent more than RMB 10 million in June 2007 for a 51% stake in efu.com.cn, which was established...

ZTE: August Completion for Timorese 3G

Wed, 08 Jul 2009 10:20:42 GMT

ZTE (000063.SZ, 763.HK) is expected to complete its WCDMA network project in East Timor in August, reports c114.net. ZTE partnered with East Timorese telecom operator Timor Telecom for the project.

Rumor: Tianji Media to Merge Yesky and IT Site

Wed, 08 Jul 2009 10:20:20 GMT

An unnamed source says Tianji Media Group (TMG) is internally discussing a merger between its web portal Yesky.com and its business-to-business e-commerce site it365.com, reports DoNews. A TMG marketing department employee said that TMG has no current plans to merge the sites, but the two sites have...

Deutsche Telekom Set Up Shenzhen Sub

Wed, 08 Jul 2009 10:20:08 GMT

German telecommunications and information technology service provider Deutsche Telekom (NYSE:DT) announced Tuesday that it has established its fourth China subsidiary in Shenzhen, reports Shenzhen Economic Daily. Deutsche Telekom has subsidiaries in Beijing, Shanghai and Hong Kong, and its China...

China IPTV Users Surpass U.S., Korea, Says SMG

Wed, 08 Jul 2009 10:14:13 GMT

Shanghai Media Group (SMG) Internet Protocol TV (IPTV) subsidiary BesTV has recorded more than 2 million IPTV subscribers, surpassing the IPTV subscriber total in South Korea, the U.S. and France, reports ChinaByte.com. Reports in February 2008 said that BesTV's IPTV service had 640,000 users.

Spanish Software Co Returns to China

Wed, 08 Jul 2009 10:10:50 GMT

Spanish anti-virus software provider Panda Security announced July 7 that it has established a research and development center in China, Sohu reports. Panda Security first set up in China nine years ago, withdrawing from the Chinese market two years later, according to Beijing Business Daily.

Solar Industry Weekly Update

Tue, 07 Jul 2009 12:53:34 GMT

Hangzhou Curbs Speculative Housing Buys

Tue, 07 Jul 2009 10:59:58 GMT

Hangzhou issued new restrictions in early July to tighten credit for purchases of second homes, reports Shanghai Securities News quoting confirmation from Hangzhou-based Binjiang Real Estate Group (002244.SZ) and Centaline China Property Research Center (Hangzhou) executives. Second-home buyers must...

Noah Acquires Kid's Education Co Little Star

Tue, 07 Jul 2009 10:50:50 GMT

Shenzhen-based electronic dictionary and mobile learning device maker Noah Education Holdings Ltd. (NYSE:NED) announced July 6 that it has wholly acquired Little New Star Education Group, a private education service based in Changsha, Hunan province, for RMB 113 million in cash and stock. Little...

New Oriental HQ Sees New Student Surge

Tue, 07 Jul 2009 10:45:52 GMT

New Oriental (NYSE:EDU) has recently seen applications from new students rise four- to five-fold in its Beijing headquarters, reports Legal Mirror quoting an executive from the private education company's marketing department. The location now receives close to 2,000 applications daily, half from...

Hotelier Jin Jiang Sets Up U.S. Investment JV

Tue, 07 Jul 2009 10:43:54 GMT

Shanghai Jin Jiang International Hotels (Group) Co. Ltd. (2006.HK) announced July 7 that its wholly owned subsidiary Capital Group will establish a joint venture to help Jin Jiang expand in the U.S. through hospitality acquisitions or development. Jin Jiang and Thayer V, a subsidiary of Annapolis-based...

Yingli: New Credit Lines, Loan Payments

Tue, 07 Jul 2009 10:40:24 GMT

Vertically integrated photovoltaic (PV) products manufacturer Yingli Green Energy Holding (NYSE:YGE) announced July 7 it has secured two credit facilities, the first worth $100 million from Bank of Communications' (3328.HK, 601328.SH) Offshore Center, and the second worth RMB 300...

CCTV Clients Up Spending in Q2

Tue, 07 Jul 2009 10:38:22 GMT

China Central Television (CCTV) advertising revenues from more than 100 clients have increased in the three months between March and July this year, reports a.com.cn. CCTV also added new clients in July, including auto company Shenyang Brilliance Jinbei Automobile; as well as soft drink and wine companies.

Avon China Under Investigation for Pyramid Sales

Tue, 07 Jul 2009 10:35:20 GMT

The Heilongjiang subsidiary of beauty product retailer Avon China is currently under investigation for pyramid sales by the industrial and commercial bureau of Harbin, Heilongjiang's provincial capital, reports xinmin.cn quoting a 163.com report. The bureau has confiscated some of the subsidiary's documents...

Poly Real Estate Buys Beijing Land

Tue, 07 Jul 2009 10:34:41 GMT

Guangzhou-based Poly Real Estate Group Co. Ltd. (600048.SH) purchased a 91,011-square-meter residential land parcel in Beijing's Daxing District on July 6 with a bid of RMB 1.63 billion, approximately RMB 600 million more than the offering price, reports Guandian.cn. The project will cover total...

Greenland Outbids Vanke for Daxing Land Parcel

Tue, 07 Jul 2009 10:33:09 GMT

Real estate developer Shanghai Greenland Group purchased a 162,263-square-meter residential and commercial land parcel in Beijing's Daxing District with a bid of RMB 3.03 billion on July 6, about RMB 1.63 billion more than the offering price, reports Guandian.cn. The project will cover total construction...

MOFCOM: H1 Exports Down 21.7%

Tue, 07 Jul 2009 10:33:05 GMT

China's exports in the first half of 2009 decreased in value 21.7% year-on-year, reports Xinhuanet.com quoting Yi Xiaozhun, the vice minister of commerce. China exports were worth $426.14 billion in the first five months of this year, down 21.8% year-on-year, according to the statistics released by China...

China's Largest BIPV Project Breaks Ground

Tue, 07 Jul 2009 10:32:39 GMT

Chinaseasun (Beijing) New Energy Power Project broke ground on a 450KW building-integrated photovoltaic power generation system, China's largest roof-based project, on the new wing of the Shandong Provincial Museum on July 6, according to in-en.com. Chinaseasun (Beijing) New Energy Power Project...

Kingsoft Director Resigns After 3 Wks

Tue, 07 Jul 2009 10:32:05 GMT

Kingsoft's (3888.HK) latest online game business marketing director, Zhou Qian, resigned July 6, Sina reports citing a Kingsoft employee. According to the report, the company sent an internal email announcing the resignation due to poor health. Zhou had joined Kingsoft three weeks previously.

Unicom: Shanghai to Get RMB 20B in Next 3Yrs

Tue, 07 Jul 2009 10:31:28 GMT

China Unicom (NYSE:CHU, 762.HK, 600050.SH) plans to spend RMB 20 billion on information infrastructure in Shanghai over the next three years, Sina reports. Previous reports said that China Mobile (NYSE:CHL,...

China Inks $2B Italian Contracts

Tue, 07 Jul 2009 10:31:08 GMT

A Chinese business delegation accompanied by President Hu Jintao signed $2 billion in contracts with Italian enterprises for more than 30 projects during the delegation's visit to Italy, reports caihuanet.com quoting information from China's Ministry of Commerce (MOFCOM). The agreements include the electronics,...

A-Shares Down, Real Estate Slips on Bubble Fears

Tue, 07 Jul 2009 10:30:09 GMT

The Shanghai Composite Index decreased 1.13% to close at 3,089.45, while the Shenzhen Composite Index dipped 0.24% to close at 1008.2 on Tuesday. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 188.05 billion and RMB 91.37 billion, respectively. New restrictions that have tightened...

Source: Oak Pacific Establish SNS in Japan

Tue, 07 Jul 2009 10:26:40 GMT

Oak Pacific Interactive has set up a duplicate of its open entertainment platform Kaixin.com under the domain name "Kaixin.jp" in Japan, Sina reports quoting an unnamed insider. The platform is aimed at Chinese in Japan with all writing in Chinese, and has over 1,300 users to date, said the report. The...

Update: Sany Breaks Ground on Wind Equipment Project

Tue, 07 Jul 2009 10:20:09 GMT

Sany Group subsidiary Sany Electronics and Tongyu State-owned Assets Management broke ground on the first phase of a RMB 10 billion wind power industry park project in Tongyu, Jilin province on July 7, reports in-en.com. According to the report, the project will generate RMB 2.8 billion in sales revenue...

Unicom Links Up With Merchants Bank, China Eastern

Tue, 07 Jul 2009 10:05:57 GMT

China Unicom (NYSE:CHU, 762.HK, 600050.SH), China Merchants Bank (600036.SH, 3968.HK) and China Eastern Airlines (NYSE:CEA, 670.HK, 600115.SH) signed an agreement July 6 to cooperate on areas including products, services, channels, technology and...

C C Land Buys Chongqing Land Parcel

Tue, 07 Jul 2009 10:05:42 GMT

Hong Kong real estate company C C Land Holdings (1224.HK) announced July 6 that it has purchased a 133,000-square-meter land parcel in Chongqing's Shapingba District for RMB 234 million. The company plans to develop a residential project with gross floor area of about 356,000 square meters, with...

Baidu (BIDU) Data Weekly Update

Mon, 06 Jul 2009 11:08:46 GMT

NetEase: Min "WoW" Rev Share Under $60M

Mon, 06 Jul 2009 10:52:34 GMT

The minimum revenue sharing fee that NetEase (Nasdaq:NTES) gives to World of Warcraft (WoW) developer Blizzard Entertainment for the 3D MMORPG will be no more than $60 million, said NetEase WoW project chief Li Riqiang. According to Li, WoW's previous operator The9 (Nasdaq:NCTY)...

Google China Ads Turn Traditional

Mon, 06 Jul 2009 10:51:52 GMT

Google (Nasdaq:GOOG) China has started advertising its mobile search products on Line 1 of both the Beijing and Guangzhou subway systems, as well as in 150 bus stops around Beijing, since June 29, Sina reports. The report said that Google China has previously conducted outdoor ad campaigns in...

Alipay Records 200M Users

Mon, 06 Jul 2009 10:50:50 GMT

Alibaba Group's online payment subsidiary Alipay announced July 6 that it has exceeded 200 million users, 163.com reports. The figure puts Alipay ahead of eBay's (Nasdaq:EBAY) online payment tool PayPal, which has recorded 180 million users, to become the world's largest online payment platform,...

Vanke June Sales Expand 50% YoY

Mon, 06 Jul 2009 10:45:58 GMT

Shenzhen-based real estate developer Vanke (000002.SZ, 200002.SZ) sold 671,000 square meters in June, up 49.9% year-on-year, generating revenues of RMB 6.86 billion, up 57.1% year-on-year, the company announced July 4. Vanke's total sales in the first six months of this year come to approximately...