Archive for October, 2007

Chinese vice premier: Construction of key projects to benefits Chinese, ASEAN peoples

Chinese Vice Premier Zeng Peiyan (C) visits the Nanning International Exhibition Center prior to the opening of the 4th China-ASEAN Expo in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region, Oct. 28, 2008. The 4-day expo started here frameBorder=0 width=604 height=28>

Iran turns cold shoulder to sanctions

[China]Top legislature hears reports on handling of bills

[World]Musharraf to decide on uniform after verdict

[Science]China’s lunar probe in good conditions

[Biz]Shenhua added to Hang Seng China AH Index Series 

[Popular]Golden Rooster Film Gala concludes

Vice premier hails China’s achievements in past 3 decades

Chinese Vice Premier Zeng Peiyan (C) visits the Nanning International Exhibition Center prior to the opening of the 4th China-ASEAN Expo in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region, Oct. 28, 2008. The 4-day expo started here alt=”Photo taken border=0>

Photo taken frameBorder=0 width=604 height=28>

Iran turns cold shoulder to sanctions

[China]Top legislature hears reports on handling of bills

[World]Musharraf to decide on uniform after verdict

[Science]China’s lunar probe in good conditions

[Biz]Shenhua added to Hang Seng China AH Index Series 

[Popular]Golden Rooster Film Gala concludes

China, ASEAN trade, economic ties enter new phase

Chinese Vice Premier Zeng Peiyan (C) visits the Nanning International Exhibition Center prior to the opening of the 4th China-ASEAN Expo in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region, Oct. 28, 2008. The 4-day expo started here frameBorder=0 width=604 height=28>

Iran turns cold shoulder to sanctions

[China]Top legislature hears reports on handling of bills

[World]Musharraf to decide on uniform after verdict

[Science]China’s lunar probe in good conditions

[Biz]Shenhua added to Hang Seng China AH Index Series 

[Popular]Golden Rooster Film Gala concludes

Banks, insurers eye planned Beijing-Shanghai high-speed railway

    BEIJING, Oct. 28 (Xinhua) — Several Chinese banks and insurance companies are mulling bid for investment in a high-speed railway linking Beijing and Shanghai, according to the 21st Century Economic Report.

    Three major commercial lenders including the Bank of China (BOC), the Industrial and Commercial Bank of China and China Construction Bank are all planning to invest 10 billion yuan (1.34billion U.S. dollars) each frameBorder=0 width=604 height=28>

Iran turns cold shoulder to sanctions

[China]Top legislature hears reports on handling of bills

[World]Musharraf to decide on uniform after verdict

[Science]China’s lunar probe in good conditions

[Biz]Shenhua added to Hang Seng China AH Index Series 

[Popular]Golden Rooster Film Gala concludes

Chinese vice premier urges early ending of talks on China-ASEAN FTA investment pact

    NANNING, Oct. 28 (Xinhua) — Chinese Vice Premier Zeng Peiyan frameBorder=0 width=604 height=28>

Iran turns cold shoulder to sanctions

[China]Top legislature hears reports on handling of bills

[World]Musharraf to decide on uniform after verdict

[Science]China’s lunar probe in good conditions

[Biz]Shenhua added to Hang Seng China AH Index Series 

[Popular]Golden Rooster Film Gala concludes

Chinese vice premier: Pan Beibu Gulf economic co-op to help regional growth

    NANNING, Oct. 28 (Xinhua) — Chinese Vice Premier Zeng Peiyan said frameBorder=0 width=604 height=28>

Iran turns cold shoulder to sanctions

[China]Top legislature hears reports on handling of bills

[World]Musharraf to decide on uniform after verdict

[Science]China’s lunar probe in good conditions

[Biz]Shenhua added to Hang Seng China AH Index Series 

[Popular]Golden Rooster Film Gala concludes

CSRC: China’s stock index futures ready to take off

    BEIJING, Oct. 28 (Xinhua) — Shang Fulin, chairman of the China Securities Regulatory Commission (CSRC), said frameBorder=0 width=604 height=28>

Iran turns cold shoulder to sanctions

[China]Top legislature hears reports on handling of bills

[World]Musharraf to decide on uniform after verdict

[Science]China’s lunar probe in good conditions

[Biz]Shenhua added to Hang Seng China AH Index Series 

[Popular]Golden Rooster Film Gala concludes

Staples and UPS to establish joint-venture stores in China

    BEIJING, Oct. 27 (Xinhua) — Britain-based office product supplier Staples and UPS, the world’s leading package delivery company, are planning to establish a joint venture to launch new co-branded stores in China.

    The new store format, co-branded Staples UPS Express, combines office supplies and document processing services from Staples with packaging and international shipping services from UPS.

    The first two Staples UPS Express stores will be opened in Beijing’s Central Business District. Two additional locations are planned for Shanghai by the end of 2007.

    ”China is an important part of Staples’ long-term global expansion,” said Weiguo Jin, chairman of Staples China. “By partnering with UPS, the global brand for package delivery, Staples is pursuing a new growth area in the world’s fastest growing market.”

    ”The Staples UPS Express concept in China stems from a long-term alliance between the two companies,” said Richard Loi, senior vice president, UPS Asia Pacific and China District.

    ”Our strengths, interests and commitment to China have led us to develop Staples UPS Express which will offer customers a convenient, one-stop location for office supplies, document services and international shipping needs. Chinese business customers will benefit from the customized solutions and one-to-one customer experience Staples UPS Express stores will present them,” Loi said.

    Every store will include a broad range of core office supplies, document processing services, international package shipping, and packaging and labeling services for business customers and consumers. Customers can expect their UPS shipments to be picked up within 30 minutes of their telephoned request.

N China province proves additional coal reserve of 8.8 bln tons

    BEIJING, Oct. 27 (Xinhua) — North China’s Shanxi Province, the country’s largest coal producer has proved additional coal reserves of 8.8 billion tons since 2004, said local Shanxi Evening News on Friday.

    The overall coal reserves of the province amount to more than 260 billion tons, an official with the Shanxi Provincial Bureau of State Land and Resources was quoted as saying.

    With an estimated annual coal reserve consumption of 1.2 billion tons, supply to the country’s coal industry can be guaranteed for at least 200 years, the official said.

    The annual coal production of Shanxi is 580 million tons.

    According to the statistics released on the bureau’s website, the newly found coal reserves added up to 8.45 billion tons from 2004 to 2006.

VeriSilicon seeking U.S. listing

Shen Guojun (first from right), president of property developer China Yintai Holdings Ltd, and Chan Yue-kwong (second from right), chairman of Hong Kong-based restaurant chain Cafe de Coral Holdings Ltd, present at a press conference in Beijing on Friday. Shen and Chan are two of the 11 winners of the Ernst & Young Entrepreneurs of the Year China 2007 awards.(Photo: China Daily)
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    BEIJING, Oct. 27 — VeriSilicon Inc, an integrated circuit (IC) design house backed by Intel VC, plans to list on the NASDAQ within two years and will seek a new round of investment.
Wayne Dai, chairman and CEO of the Shanghai-based chip designer, said on Friday he has spoken to NASDAQ executives twice this year about the listing.

    ”We believe the period between the Beijing Olympics in 2008 and the World Expo in Shanghai in 2010 might be good,” said Dai, after receiving an Ernst & Young Entrepreneur of the Year China 2007 award, along with 10 other winners.

    The company will also get a new round of investment from backers like IBM and Lehman Brothers in China and semiconductor investor Vantagepoint Partners in the Silicon Valley.

    He declined to reveal further details. But he said nearly 10 venture capital and private equity firms hold more than 50 percent of the company after four rounds of investment – including big names Intel VC, IDG Venture, Legend Capital and International Finance Corp under the World Bank.

    VeriSilicon is one of the largest private chip design houses in China. It posted revenue of $35 million last year.

    Dai said his company has doubled sales for the past three years and its gross margin is 50 percent – high for a Chinese chip designer due to its focus on intellectual property rights. The firm holds over 50 US patents.

    Since Beijing-based chip designer Vimicro raised $87 million in its 2005 NASDAQ listing, IC design has become a sought-after area for overseas listings and venture capital investment.

    David Sun, chairman and managing partner of Ernst & Young China, said innovation and globalization were common traits among the rising generation of entrepreneurs.

    ”All of this year’s winners started their own businesses and successfully turned their dreams into reality, which is going to encourage the entrepreneurial spirit in China,” said Sun.

    Cheung Yan, chairwoman of paper-making giant Nine Dragons, Liu Yonghao, president of agricultural firm New Hope Group, and Xu Hang, co-CEO and chairman of New York-listed medicinal equipment maker Mindray, also won awards.

    It’s the second time Ernst & Young has given the awards in China, which are based on an independent panel of prominent business leaders.

    (Source: China Daily)