Hotels with few stars to their name are being squeezed out of Shanghai by their budget and luxury counterparts. As Liberation Daily reports, they need to change their operating model if they hope to survive.

Lenovo Group’s 2006 fourth quarter and full year fiscal report released May 23 was the first time the company was able to report profitability in its American business. Overseas revenues broached 50% of its total. In an exclusive interview with the Beijing Youth Journal, Lenovo chairman Yang Yuanqing outlines the company’s plan to continue to increase overseas profitability.

Export tax reimbursements will soon be reduced or lifted altogether, stimulating consolidation in the textile, home appliance, and nonferrous metal industries.

The land appreciation tax formally levied on February 1st of this year has dogged consumers by leading to increased property prices as costs for developers rise.  It appears that macro controls have initiated another vicious cycle.

Like state-owned commercial banks, the four state-owned asset management companies (AMCs) Cinda, Great Wall, Huarong and Orient, are demonstrating their intent to consolidate assets and conduct stock reforms.  However, internal restraints and uncertainty about how to attract strategic investors are causing difficulty in implementing these intentions.