New Horizon Capital, a private equity firm co-founded by Wen Yunsong, the son of Chinese Premier Wen Jiabao, is looking to raise $1 billion for a fund targeting domestic companies. The fund, which would focus on companies ready to make intitial public offerings, would be the third and largest fund established by New Horizon Capital, [...]
General Motors (GM) expects to sell around two million vehicles in China in 2010, at least two years ahead of its earlier sales schedules. Having seen sales grow 67% to 1.83 million units in 2009, the company expects continued strong demand despite government plans to scale back purchase incentives. Last year the sales tax on [...]
China Southern Airlines may start bundling air and train tickets on domestic routes as it struggles to compete with the newly installed high-speed railways between Guangzhou and Wuhan. The carrier initially responded aggressively to the new competition, increasing the number of flights between Guangzhou and Changsha and Wuhan to create a shuttle service, cutting ticket [...]
The first round of talks on an Economic Cooperation Framework Agreement between Taiwan and the mainland will be held in Beijing this week. According to the Straits Exchange Foundation (SEF), Kao Koong-lian, deputy chairman of the SEF, will head up the Taiwan delegation, while Zheng Lizhong, vice president of the Association for Relations Across the [...]
China’s senior representative on climate change said on Sunday that Beijing had an ‘open attitude’ towards disputes on the underlying causes of global warming. Xie Zhenhua, vice chairman of the National Development and Reform Commission, admitted that it was a solid fact that climate change was having an impact but said there were ‘some uncertainties’ [...]
Beijing has branded the US “hypocritical” following criticisms from US Secretary of State Hillary Clinton’s over alleged Chinese web-hacking. A commentary published by the official Xinhua News Agency noted that America introduced the concept of cyber warfare and accused the US administration of pointing its finger at others “without proper justification.” The commentary also accused [...]
Bank of China announced on Friday that it plans to raise new capital through share and bond issues. The lender will seek shareholder approval to sell new shares that amount to no more than 20% of its existing Hong Kong and Shanghai-listed shares. The total sum could be almost $30 billion. Bank of China will [...]
