Gao Ye, the “man on the street” featured in the CCTV report who complained about finding pornography through Google searches may be a CCTV intern. The report from CCTV aired last Thursday. It featured an interview with Gao in which he talked about a friend who had been captivated by pornography found on Google. The [...]
China’s tax agency will increase levies on cigarettes. Taxes on higher-priced cigarettes will increase from 45% to 56%, and taxes on lower-end brands will rise from 30% to 36%. A 5% tax on sales from wholesalers to retailers will also be imposed. China has 350 million citizens who smoke, more than the entire population of [...]
Henan-based pharmaceutical company Hualan Biological Engineering claimed yesterday that it has developed a vaccine for the H1N1 swine flu. The vaccine could be on the market in months, said Pan Ruowen, deputy director of Hualan. “We need to conduct 13 tests to ensure the vaccines are safe and effective,” he told broadcaster CCTV. “[Laboratory tests] [...]
Taiwan-based LCD manufacturer AU Optronics said Monday will create a US$14.6 million joint venture with Sichuan Changhong, a mainland TV maker, to produce LCD modules on the mainland. AU Optronics is the world’s third-largest LCD module manufacturer. AU is strengthening its presence on the mainland to take advantage of Beijing’s stimulus package, which has boosted [...]
China Minsheng Bank (CMB) shareholders on Monday approved a plan to list on the Hong Kong stock exchange. The listing would occur in the fourth quarter of 2009, and is expected to raise as much as US$3.8 billion in fresh capital. the mid-sized lender hopes to issue 3.32 billion new shares, or 15% of the [...]
Leading European aircraft maker Airbus signed an agreement with the Industrial and Commercial Bank of China (ICBC) yesterday to provide financing to supply 70 A320 jets to mainland purchasers. The initial aircraft from the Tianjin production line, the first Airbus production line outside of Europe, are due to be delivered today, and the plant will [...]
China Eastern Airlines (CEA) has proposed to take over Shanghai Airlines through a share swap, according to a source familiar with the negotiations. If successful, the move would finalize what has been a drawn-out negotiation over how to best merge the two struggling airlines. According to the source, CEA will raise US$1.02 billion through a [...]
