Sinopec to Produce 1/3 of China's Shale Gas by 2015
Sinopec Group, the parent of Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386), said it aims to produce two billion m3 of shale gas per year by the end of 2015, accounting for one-third of China's total output. The nation is stepping up the development of nonconventional energy resources including shale gas to ease strained fossil fuel supplies.
Southern Airlines' A380 Maiden Int'l Flight Planned
China Southern Airlines Ltd (NYSE: ZNH, SHA: 600029, HKG: 1055), the nation's biggest carrier by passenger traffic, said its Airbus A380 will make its maiden international flight on October 12 from Guangzhou to Los Angeles. Southern Airlines is about to receive its fourth A380.
Huiyuan Juice Seeks British Tie-up
China Huiyuan Juice Group Ltd (HKG: 1886), one of the largest juice makers in China, will probably form a partnership with British peers for cooperation in China, chairman Zhu Xinli said. Zhu said there were lots of good brands in Britain but they were not big in size, and that the Chinese market would help them grow.
Shanghai Friendship Buys ¥274m Land
Shanghai Friendship Group Inc (SHA: 600827), China's fourth largest listed retailer by revenue, said it paid ¥274 million for a land plot in suburban Shanghai's Chuansha area to build a 25,612m2 shopping complex. The department store chain has the right to use the block for 40 years. No other details were disclosed.
$1 = ¥6.33