September 30 – General Electric Co (NYSE: GE) said its engine making division has been placed with $450 million worth of CFM56-5B orders from Industrial & Commercial Bank of China Ltd's (SHA: 601398, HKG: 1398) financial leasing firm. The engines will be installed on 22 Airbus A320 planes the financial leasing firm will start receiving in 2012.

September 29 – General Electric Co (NYSE: GE) expects its energy division's sales in China will climb by at least 25% annually as the world's most populous nation adopts more fuel-efficient technology, Bloomberg reported, citing CEO Jeffrey Immelt, who was in China to announce a local contest offering $100 million in seed money for innovations in gas-based power technology.

September 27 – Volkswagen AG is planning to produce the new US version of its Passat sedan in China in an effort to increase local production and broaden its product portfolio in the country, MaketWatch reported, citing CFO Hans Dieter Poetsch. The German automaker aims to expand in southern and western China with an expected $19 billion investment from 2012 to 2016.

September 26 – Nike Inc (NYSE: NKE) said its revenues from the Greater China region rose 15% and pretax profits were up 4% in the region during the first quarter of its 2012 financial year. Revenues from sneakers were up 28% to $314 million; revenues from sports gear were up 16% to $37 million; revenues from sportswear were down 3% to $177 million.

September 26 – The Blackstone Group LP (NYSE: BX) sold its 95% stake in Shanghai's Channel 1 shopping mall to Hong Kong's New World Development Co for ¥1.46 billion, marking its first retreat from a property investment in China, a person familiar with the matter said. Blackstone purchased the stake for ¥1 billion in 2008.

$1 = ¥6.36

You are currently reading words of total words in this article.
To continue reading this article, you must be a subscriber. Log in now..

Finish this article for free.
@2017 China Economy @ China Perspective.
All Right Reserved.
Server SSL Certificate