China's electricity consumption grew 1.8% month on month to 346 billion kW hours in November, according to the State Energy Administration.
China's spending on R&D is likely to total $153.7 billion in 2011 to overtake Japan's $141.3 billion second just to the US, according to a report by Battelle Memorial Institute.
China has seen 3,057 mergers and acquisitions valued at a combined $164.3 billion in 2010, according to a Thomson Reuters report. The value was up 18% on last year. 321 transactions valued at $54.5 billion involved foreign companies. Transactions associated with raw materials were the most active, recording value up 37% to $40.3 billion, followed by the energy and power generation sectors' $35.5 billion.
The Chinese government has promised to gradually open its market to American beef and import more copyrighted software.
There were a record 22 Chinese companies that had IPOs on the NYSE in 2010, according to the exchange's China office. They raised a combined $2.5 billion. Separately, 18 Chinese companies went public at the NASDAQ this year, raising a combined $1.31 billion.
Shanghai's alternative energy industry is estimated to produce 30% more in output this year, said the municipal government.
Agricultural Bank Of China Ltd (SHA: 601288, HKG: 1288), the nation's third largest bank by asset, is planning to issue ¥500 million RMB-denominated bonds in Hong Kong, according to two people with knowledge of the matter. The bank could issue more in value depending on demand.
China Shenhua Energy Co (SHA: 601088, HKG: 1088), the nation's biggest coal producer, has won regulatory approval to build a 182.3km railroad in northern China for coal transport. The project will cost ¥13.46 billion, of which 65% will be funded from bank loans. It is expected to carry 200 million tons of coal a year.
Haier Property Co, a subsidiary of Qingdao Haier Co (SHA: 600690), China's largest white goods maker, expects its revenue to total ¥8 billion in 2010 and ¥20 billion in 2011, said Haier Property chairman Lu Jian. He also revealed the company was planning to complete an IPO in 2011.
United Energy Group Ltd (HKG: 0467), said it has agreed to pay $775 million for BP's oil and gas business in Pakistan. It turns out to be the first non government-run Chinese firm to acquire BP's assets. The deal is expected to be finalized in 1H 2011. BP sold the assets to fund compensation for the Gulf of Mexico oil spill earlier this year.
Beijing Shougang Co (SHE: 000959), a leading steelmaker, predicted its revenue would hit ¥100 billion by 2015.
Kweichow Moutai Co (SHA: 600519), China's top brand for traditional white liquor, said it will raise its prices by 20% starting 1 January 2011.
$1 = ¥6.66