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Disney launches B2C online shopping services in ChinaPublished: 31 Mar 2009 17:10:16 PST
Apr. 1, 2009 (China Knowledge) - Walt Disney Co, the world's largest media and entertainment corporation, Monday launched its B2C online shopping services in China in consideration of the country's huge e-commerce market potential, The First Financial Daily reported.
Disney said its B2C online shopping channels will cover more than 300 cities in China, most of which are first- and second-tier cities. It expects the new services to help increase its online shopping business by 50%, accounting for 10% of its total consumer goods sales in the country.
The company's online stores will offer as many as 5,000 types of consumer goods, including clothes, shoes, accessories and toys, etc. according to the report.
China's B2C e-commerce market continued to grow in 2008, with 70 million netizens shopping online and the transaction volume hitting RMB 12.5 billion.
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Stocks h wedding long dress it two-month high on corporate earnings jump
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Stocks hit two-month high on corporate earnings jumpPublished: 20 Oct 2009 09:02:01 PST
Shares rose on optimism over corporate earnings, and expectations that the country appears on course to achieve its economic growth target.
China's key stock index rose to its highest mark in more than two months, led by financial shares on expectations of strong economic data due for release Thursday, while oil shares also went up as crude prices rose.
"Though positive news dominates, the market could be entering a consolidation stage," said Alfred Chan, chief dealer at Cheer Pearl Investment. "Major players are looking to lock in profits and that may cap rises in the near future."
Brokers generally see the benchmark index meet resistance at around 2,500.
China's benchmark Shanghai Composite Index on the Shanghai Stock Exchange closed at 3,084.45 points yesterday, up 46.18 points, or 1.52 percent, from the previous close.
The official Shanghai Securities News reported that recently released economic data had led many economists and analysts to expect China's gross domestic product to have grown more than 9 percent in the third quarter ending September from a year earlier.
China Merchant Bank gained 4.69 percent to 16.73 yuan ($2.45) after its shareholders approved an additional share offer to raise up to 22 billion yuan ($3.22 billion) to boost its capital adequacy ratio.
PetroChina climbed 1.47 percent to 13.80 yuan ($2.02) as US crude oil futures rose more than half a percent Tuesday to a one-year high of $80.05 a barrel.
The Shenzhen Component Index on the Shenzhen Stock Exchange closed at 12,676.24 points Tuesday, up 192.97 points, or 1.55 percent, from the previous close.
Agencies/Global Times
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Hang Sen sommerkleider lang g Index opens 49.16 points higher on Tue
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Hang Seng Index opens 49.16 points higher on TuePublished: 05 Jan 2009 23:24:38 PST
Jan. 6, 2009 (China Knowledge) - Hong Kong stocks slightly rose on Tuesday morning, with the benchmark Hang Seng Index opening 49.16 points higher at 15,312.47.
Hang Seng China Enterprise Index, which tracks the overall performance of 43 Chinese mainland state-owned enterprises on the Hong Kong Stock Exchange, opened 66.03 points higher at 8,742.78.
Sinopec<600028><386><SNP>, the largest oil refiner in Asia, opened at HK$5.26, the same as the previous closing, while the nation's another oil giant PetroChina<601857><857><PTR> rose 1.42% to open at HK$7.18.
China Construction Bank (CCB)<601939><939> added 0.86% to open at HK$4.69. The Industrial & Commercial Bank of China (ICBC)<601398><1398> gained 0.23% at HK$4.35.
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Asahi Ka princess wedding dresses sei to compete with GE in China
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Asahi Kasei to compete with GE in ChinaPublished: 09 Aug 2009 08:02:01 PST
By Tu Lei
The Japan-based Asahi Kasei Chemical Corporation will operate a wastewater-recycling business in East China, a senior company official said.
“The company will first target those Japanese high-tech enterprises in Suzhou, Jiangsu Province, then go to other regions,” said Koji Fujiwara, chief executive official in charge of the performance chemicals and products department of Asahi Kasei.
The company will attend the water recycling system construction in the Caofeidian Industrial Zone in Tangshan, Hebei Province, said Fujiwara. He said the company would increase cooperation with engineering, procurement and construction teams to compete for contracts in larger cities.
As a technology provider, the company conducted water purification for aquatic competitions held in the Shunyi Olympic Aquatic Park during the 2008 Beijing Olympics.
Currently, Asahi Kasei handles 20 percent of all water treatment work in China, after GE, said Hasegawa Kenji, president of Microza (Hangzhou).
In 2008, GE Water & Process Technologies helped improve water quality in Taihu Lake, the main source of water for more than 30 million people living in the lake area.
Last November, GE Water & Process Technologies expanded its manufacturing facility in the Wuxi New Zone. Partnering with its China Technology Center in Shanghai, the facility in Wuxi, which was set up in 2004, manufactures and assembles products that meet the requirements for China.
Currently, overseas giants have grabbed a chunk of the nation’s water treatment market, leaving Chinese firms behind.
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Chery Au mittelalter kleider to aims to sell 10,000 vehicles in Brazil by end-2010
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Chery Auto aims to sell 10,000 vehicles in Brazil by end-2010Published: 23 Aug 2009 20:11:50 PST
Aug. 24, 2009 (China Knowledge) - Chery Automobile Co Ltd, the largest private auto maker in China, aims to sell 10,000 vehicles in Brazil by the end of 2010 as part of its overseas expansion plan, the Shanghai Daily reported over the weekend.
Chery last week began exporting its Tiggo SUV vehicle to Brazil, officially entering the Brazilian market, and expects new export markets to counter weak demand in existing export markets, according to the report.
The Wuhu-based auto maker said it plans to set up 55 dealerships in 14 states in Brazil and aims to sell 2,500 of the 2.0-liter Tiggo SUVs, which are priced at US$25,000, by the end of this year.
The company may also begin producing its vehicles in Brazil within three years, said Wang Wei, a senior official from Chery Auto.
In July, Brazilian media reported that Chery will set up its Brazilian headquarters in St. Paul, and that the company will produce the Tiggo SUV at a plant there.
Chery has resumed preparations for an A-share initial public offering after its application for a domestic listing in June 2008 was shelved due to a market slump amid the global financial crisis, according to previous report by China Knowledge.
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Guangzhou selling Asian Games Village for RMB 16.5 blnPublished: 12 Nov 2009 19:36:19 PST
Nov. 13, 2009 (China Knowledge) - Guangzhou, the capital of Guangdong Province, is selling the Asian Games Village for RMB 16.5 billion or RMB 3,767 per square meter of potential floor area, according to a statement released by Bureau of Land Resources and Housing Management of Guangzhou.
The Asian Games Village, located in Panyu District, will provide venues and services for the16th Asian Games, which will be held from Nov. 12 to Nov. 27, 2010.
The completed development will have a gross floor area of 4.38 million sq m. So far there are, 803,400 sq m of apartments, 65,800 sq m of commercial space and 197,300 sq m of infrastructure.
Nineteen residential parcels with an area of 1.46 million sq, or 55% of the residential property in the development, have already been sold.
Domestic bidders for the Asian Games Village are required to have a registered capital exceeding RMB 800 million and to have total assets of more than RMB 5 billion as of the end of last year. Overseas bidders are required to have more than RMB 10 billion in total assets and RMB 4 billion in net asset as of Dec. 31, 2008.
Furthermore, domestic bidders are required to have completed 1.4 million sq m of apartments in the period from 2006 to 2008 and overseas bidders are required to have been engaged in property development for more than ten years, sources reported.
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TCL makes inroads into medical electronics industryPublished: 29 Oct 2009 01:02:01 PST
TCL Corporation, a major Chinese TV and mobile phone manufacturer, has made inroads into the medical electronics industry for the first time by purchasing a majority stake in Beijing Sinopharm Hundric Medline Information Technology Co Ltd, a medical equipment firm, according to a Caijing report Thursday.
TCL, a previous shareholder, acquired the firm through purchasing shares held by previous shareholders of the medical firm. In this deal, TCL spent 31.09 million yuan to buy its original shares of the medical firm and invested another 21.22 million yuan to increase its shareholding.
After the purchase, TCL will hold a 51.8 percent stake in the medical firm to become the majority owner.
This is the first time that TCL has invested in the medical electronics industry, a new growth area that TCL aims to foster with its extensive experience in the TV and mobile phone market.
According to a report released by TCL Wednesday, the company’s revenue in the first three quarters reached 30.68 billion yuan, of which the sales revenue was 29.85 billion yuan, up 5.35 percent year-on-year. The net profit for the first nine months was 153 million yuan, slumping 67.39 percent year-on-year due to high profits last year from its low-voltage apparatus business that makes mainly electric circuits and the acquisition of the medical firm this year. Thus after the low-voltage apparatus business profits were deducted, the company’s net profit in the first three quarters increased 36.07 percent year-on-year.
TCL's TV and mobile phone businesses performed especially well in the first three quarters and LCD TVs is the spot of the TV market. According to the report, TCL's sales of LCD TVs soared 105.2 percent to 5.53 million. Its sales of mobile phones and accessories reached 4.24 million, up 20 percent.
Bi Yan, analyst from China Merchant Securities said TCL's overall situation is going in a solid direction, but whether diversifying its market with the acquisition of the medical firm fits the company still needs to be seen in the future.
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Kirin to raise stakePublished: 08 Dec 2009 10:02:01 PST
Japanese beverage firm Kirin said Tuesday it would raise its stake in a Chinese soft drinks joint venture to 93.04 percent from 57.66 percent.
Kirin said it would pay at least 125 million yuan ($18 million) for 35.38 percent in the venture, Shanghai Jinjiang Kirin Beverage & Food, from its partner Jinjiang International Holdings in an auction.
Global Times-Agencies
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Air Chin brautkleid gebraucht a applies for fuel surcharges over high fuel prices
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Air China applies for fuel surcharges over high fuel pricesPublished: 14 Jul 2009 01:58:20 PST
Jul. 14, 2009 (China Knowledge) - Air China Ltd<601111><0753>, the country's second-largest commercial airline, has applied for the resumption of fuel surcharges on domestic flights in response to high aviation fuel prices, the Shanghai Daily reported.
However, which level the fuel surcharges will turn to is still unknown, said Huang Bin, board secretary of the Beijng-based carrier.
China's National Development and Reform Commission (NDRC) on Tuesday raised factory-gate prices for jet fuel by nearly 26% to RMB 5,050 a ton, which puts great pressure on domestic airlines.
Several domestic airlines, including China Southern Airlines Ltd<600029><1055><ZNH>, have submitted their applications. It is estimated that the higher jet fuel prices could cost the aviation industry as much as RMB 7 billion annually.
Hang Sen abendkleid g Index opens 178 points lower on Mon
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Hang Seng Index opens 178 points lower on MonPublished: 14 Jun 2009 19:12:29 PST
