The number of microblog users in China is expected to reach 75 million this year compared to just 8 million last year, according to Analysys International. The number is estimated to be 145 million and 240 million in 2011 and 2012.
There were 1,664 group shopping websites in China by November 2010, according to a report released at an industry forum held Sunday. 70% of group shoppers were satisfied with the websites' goods and services, said the report.
The auto industry of Hubei provincial capital Wuhan is expected to be worth ¥105 billion in 2010, becoming the city's first industry with an annual output of ¥100 billion. Wuhan aims to double the value of its auto industry in 5 years.
Guodian Nanjing Automation Co (SHA: 600268), a power automation equipment manufacturer and distributor, said it would spend ¥2.12 billion building an industrial park in Jiangsu provincial capital Nanjing. Almost 275,000m2 of floor space are expected to be built on the 33,000m2 block. The cost of the project is expected to be recouped in 4 years.
Sinovel, China's largest wind power generator manufacturer, has announced an IPO plan aimed at raising ¥3.5 billion. The company posted ¥13.7 billion in revenue and ¥1.89 billion in net profit in 2009 compared to ¥5.1 billion and ¥630 million a year earlier.
Baoshan Iron & Steel Co (SHA: 600019) has raised the prices for its January 2011-delivery carbon steel plates by ¥100 to ¥300 per ton.
China State Construction Engineering Corp (SHA: 601668) sold 5.66 million m2 of properties valued at ¥57.5 billion in the first 11 months, up 9% and 31.7% respectively from a year earlier.
A-Power Energy Generation Systems Ltd (NASDAQ: APWR), a leading Chinese distributed power generation systems and wind turbine maker, Monday announced the signing of a ¥110million engineering, procurement, and construction contract with Handan Fengfeng Pengtong Coking Co for a power generation project.
$1 = ¥6.66