June 28 – COFCO Ltd, a leading Chinese crop producer and trader, increased the size of the stake it plans to acquire in Australia's Tully Sugar Ltd to 26.58% from 20%, said Pan Honghuan, vice president of Top Glory Australia, COFCO's wholly owned Australian subsidiary. The deal is expected to cost COFCO $142 million.

June 28 – Guangzhou Automobile Group (HKG: 2238) and Hunan Changfeng Motors Co (SHA: 600991) reached a preliminary agreement on merger.

June 28 – Diageo Plc (NYSE: DEO) has been given Chinese regulatory approval to increase its stake in Sichuan Quanxing Group by four percentage points to 53%, said Sichuan Swellfun Co (SHA: 600779), a famous brand of traditional Chinese fiery spirit baijiu in which Quanxing owns a 39.71% stake. Swellfun did not reveal how much Diageo paid for the 4% stake. Diageo paid ¥500 million for a 43% stake in Quanxing in 2006, and later increased the holdings to 49% for ¥140 million. Swellfun posted ¥1.82 billion in revenues and ¥235.4 million in net profits last year.

June 28 – Wondershare, a software developer and exporter, received ¥50 million in venture capital funding from SinoWisdom and IDG. Wondershare plans to start developing applications for iPhone and Android-backed mobile services in the future, said Wondershare founder Wu Taibing.

June 27 – The value of China-involved acquisitions and mergers totaled $87.9 billion in Q2 2011, with the manufacturing, materials and energy industries – the top three – to record $17.4 billion, $16.9 billion and $12.2 billion respectively worth of transactions.

June 27 – Octmami.com, China's biggest retailer of garments for pregnant women, received ¥60 million in venture capital funding from Sequoia Capital China. The company posted ¥280 million in revenues last year and expects the figure to reach ¥650 million this year.

June 24 – Vpon.com, a Shanghai-based location based service (LBS) mobile advertising network, had received $7 million in venture capital funding, said marketing director Lin Jiali. The funds will be used to hire more employees and improve technology. Founded in 2008, Vpon focuses on LBS mobile ads targeting smartphone users, and has attracted over six million smartphone users. Among its customers are Coca Cola, Citibank, McDonald's, Starbucks and American Express.

$1 = ¥6.47

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