Intohotel.com, a Hangzhou-based professional manager for corporate business trips, won a US$30 million venture capital investment from KPCB China and Zero2IPO Group after receiving a RMB6 million venture capital start-up investment from the local government last month, China Business News reported. The website is used by more than 5,000 firms, principally fo...

Singapore-based hotel operator Furama (A09.SIN) plans to open a FuramaXpress Hotel (Zhong Guancun) business inn in the Lujiazui Finance & Trade Zone in Shanghai’s Pudong district, the Oriental Morning Post reported. The first FuramaXpress business inn in China was opened in Beijing in 2006. The hotel operator has set aside US$2 billion to open betw...

Guandong Midea Electronic Appliances Co (000527.SZ) has established an air conditioner manufacturing joint venture with Carrier Corp, the world’s largest maker of heating, ventilation and air-conditioning equipment and refrigeration systems, in southern China’s Guangdong province, China Business News reported. Carrier is a subsidiary of diversif...

It has been a mixed year so far for the Chinese economy amid internal and external disruptions. The China Securities Journal casts an eye over the latest macroeconomic figures for the country

Shanghai’s government has announced 20 manufacturing sectors in line for support, including electronics, automobiles, shipbuilding and marine, fine petrochemicals, fine steel products, aviation, aeronautics, renewable energy, and biopharmaceuticals, the Oriental Morning Post reported. The announcement did not give further details. The newspaper said th...

IDC ranked Dalian as the fifth best city in the Asia Pacific region for offshore software delivery. China Business News looks at the city’s plans to become the world’s number one

Amoi Electronics (600057.SH) president Lu Zhenyu said Tuesday that the company would position itself as the number one domestic brand in the medium- to high-end mobile handset market after an internal reshuffle, the Oriental Morning Post reported. “The number of medium- to high-end mobile handset makers accounts for just 20% of the total but they reap ...

Baosteel (Baoshan Iron & Steel) (600019.SH), China's largest steelmaker, said Monday it will spend US$48.10 million (RMB330 million) building a steel can factory in Chengdu, the capital of Sichuan province, China Business News reported. Situated in the city’s Xindu Industrial Development Zone, the plant will be capable of making 460 million ste...

Hefei Celebrities Real Estate, a subsidiary of Celebrities Real Estate Dev Group (000667.SZ), will pay Hengdian Group US$40.80 million (RMB280 million) for a 51% stake in Anhui Dongci Investment Co, the Securities Times reported. Anhui Dongci owns a two million square meter tourism plot around a lake in Feixi County in Hefei, Anhui province’s capital. ...

China Yangtze Power (CYP) Innovation Investment Management Co, a wholly-owned subsidiary of China Yangtze Power (600900.SH), said it will spend US$145.73 million (RMB1 billion) to take an undisclosed stake in Daye Non-ferrous Metals Co, a large state-owned enterprise from central China’s Hubei province, ahead of a public offering within the next two ye...

European aircraft maker Airbus said Wednesday that it will provide technical support to a US$145.92 million (RMB1 billion) joint venture repair and maintenance base in Chengdu, the capital of western China’s Sichuan province, China Business News reported. Sichuan Airlines will hold a 42% stake in the joint venture, Hong Kong Aircraft Engineering Co 40%...

Heavy truck maker CNHTC Jinan Truck Co (000951.SZ) is expected to substantially boost its market share following the introduction of National III emission standards on July 1 as it is the only automaker in China that has mastered the emission gas recycling (EGR) system, which produces obvious fuel savings, Xinhua reported, citing industry experts. Ma Chunji,...

Global real estate advisory DTZ said US$1.41 billion (RMB9.7 billion) was spent by foreign buyers on luxury residences in Shanghai in the first half of the year, the Oriental Morning Post reported. It predicted foreign buyers would spend US$2.91 billion (RMB20 billion) over the full year. Meanwhile, the Shanghai Securities News reported that a lull in foreig...

Juren.com (GA.NYSE), a Chinese online education provider, is aiming to acquire a 25% stake in 51.com, a social networking website, for US$51 million, chairman Shi Yuzhu told China Business News. It has hired China Renaissance to act as a financial consultant on the deal. Ma Yun, CEO of Alibaba.com, previously said his company wanted to take a stake in 51.com...

The 8.0-magnitude earthquake that struck western China’s Sichuan province on May 12 will cost China US$145.77 billion (RMB1 trillion) in direct economic losses, Huang Xiaoxiang, a senior provincial government official, told an ongoing meeting in the province attended by a senior US business delegation, China Business News reported. The delegation inclu...

BMC Tianjun Advertising, a unit of Business Media China AG (BMQ.FRA), agreed over the weekend to pay Shenzhen Airport Ad Co, the advertising subsidiary of Shenzhen Airport Co (000089.SZ), US$72.13 million (RMB495 million) to secure advertising space in the airport terminal through to the end of 2011, the China Securities Journal reported. The airport forecas...

China exported US$4.12 billion worth of software products in the first five months of the year, up 45% year-on-year, the Shanghai Securities News reported, citing Ministry of Industrialization and Informationalization figures. Nearly 50% of the software exports were embedded software products, up 35.8% year-on-year. Software outsourcing was worth US$360 mill...

Just US$13.10 billion (RMB89.8 billion) was raised in public offerings on the mainland’s stock exchanges in the first half of the year, down 41% from the same period last year, the China Securities Journal reported, citing a new report by PricewaterhouseCoopers (PwC). The four initial public offerings (IPOs) on the Shanghai Stock Exchange in the first ...

Datang Huayin Electric Power Co (600744.SH) will purchase a 100% stake in Xidong Energy Development Co, the Securities Times reported. Datang Huayin originally proposed four months ago to buy a 90% stake in Xidong, a unit of Inner Mongolia Haishen Coal Group, for US$66.91 million (RMB459 million). The newspaper said the change was due to the seller but gave ...

China Merchants Property Co (CMPC) (000024.SZ) said Monday that it had received approval from the securities regulator to issue US$1.17 billion (RMB8 billion) additional shares to purchase land and fund new property projects, the Oriental Morning Post reported. The company plans to acquire six land plots from its controlling shareholder, China Merchants Shek...