US-based transport and logistics company YRC Worldwide confirmed its acquisition of Shanghai Jiayu, a ground transport company, was underway, the 21st Century Business Herald reported. The two companies have come to a preliminary consensus, which will take effect after the deal has been approved by their respective boards and the relevant regulatory authorities in China. “Around 90% of our 800,000 clients need delivery services in China and Jiayu’s transport network will be a cornerstone of that,” said Bill Zollars, chairman of YRC. Privately-owned Shanghai Jiayu has 30,000 clients and more than 3,000 vehicles. YRC currently has about 200 vehicles in China.

Hangzhou-based real estate developer China GreenTown Holdings will pay RMB12,500 per square meter for a land lot in Shanghai’s northern Yangpu district, the South China Morning Post reported. It is the highest price paid for land in China this year. Greentown outbid at least 10 rivals to buy the almost 60,000 square meter plot for RMB1.26 billion. Analysts said the record-high unit price revealed a widening gap between land supply and demand in Shanghai. The developer must comply with the government’s controversial 90/70 policy if it is to build residential units on the land. The policy, which took effect in May last year, holds that residential units less than 90 square meters must account for at least 70% of a project.

Singaporean real estate developer Yanlord Land Group has obtained a 336,790 square meter plot of land in the Shuanghu Plate Area in Suzhou, Jiangsu province, for US$281 million, the Singapore-based Strait Times reported. Yanlord, which specializes in luxury residential and commercial properties, is planning to develop the area into a high-end residential compound comprising townhouses, fully furnished apartments, and some commercial facilities.

China’s 480 “little emperors,” born since 1979 have lived a highly privileged lifestyle compared to the generations that preceded them, and without siblings with whom to share the spoils of the country’s growing wealth. 

Yuan appreciation poses specific challenges to mainland automotive makers' export strategies, internationalization, and cost control measures.

With its two Shanghai subsidiaries specializing in entrepreneurial and equity investment, fashion and textile maker Youngor is diversifying into the realm of finance.