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June 20 – Marriott International Inc (NYSE: MAR), the US's largest publicly traded hotel chain, said it aims to operate over 100 hotels across 40 Chinese cities by the end of 2014. This mean it will have to open 50 hotels, most of them in second tier cities. Marriott also predicted its headcount in China would rise to 30,000 by the end of 2015.
http://www.linkshop.com.cn/web/archives/2012/213485.shtml
June 18 – Microsoft Corp (Nasdaq: MSFT) has filed a suit with a Chinese court against Beijing UniStrong Science & Technology Co (SHE: 002383), a satellite navigation product maker, claiming ¥3.67 million in compensation from a copyright dispute. Microsoft said UniStrong had illegally installed its Window CE operating system, while UniStrong said it bought the software from legal entities. Both parties declined to make public comments regarding the matter.
http://www.yicai.com/news/2012/06/1823073.html
June 17 – Burger King Holdings Inc (NYSE: BKC) has formed a joint venture which aims to open 1,000 restaurants in China in five to seven years, the Wall Street Journal reported. The fast food chain said it reached an agreement with private equity firm Cartesian Capital Group LLC and members of Turkey's Kurdoglu family, a longtime Burger King master franchisee to carry out the plan.
http://online.wsj.com/article/SB10001424052702303822204577469002428731204.html
June 15 – Amazon.com Inc's (Nasdaq: AMZN) Chinese platform has offered a total of ¥100 million worth of discounts on millions of goods to attract consumers in the upcoming summer shopping season.
http://tech.qq.com/a/20120615/000033.htm
June 15 – APM Terminals Management BV, a Denmark-based global container terminal operator, said it plans to invest $508 million building another terminal in China. It currently operates nine terminals in the country.
http://finance.qq.com/a/20120615/001325.htm
June 13 – Eli Lilly & Co (NYSE: LLY) increased its investment in Chinese generic drug maker, Novast Laboratories Ltd, by $20 million and expanded collaboration to enhance Lilly's efforts to offer branded generic medicines in the country, the Wall Street Journal reported. Five years ago, Lilly's venture capital arm started a $100 million fund to invest in Chinese life sciences firms, including Novast, which will support Lilly's branded generic products and will increase manufacturing capacity in Nantong, Jiangsu province.
http://online.wsj.com/article/SB10001424052702303768104577462304174560704.html
$1 = ¥6.35
@2011 China Economy @ The China Perspective.
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