news
Taobao captivates Chinese e-tycoons, big and small
AP
Ge Hongjun started a shop on Taobao.com — China’s answer to eBay — as a class project but he now sees it as his ticket to becoming a retail magnate after graduation.
Taobao’s growing popularity has captured the imagination of students like Ge, but also giants like Dell, Uniqlo, Procter and Gamble, and Chinese firms seeking [...]
Smart Grids: China’s Edge over India
BusinessWeek
On the eve of the Copenhagen conference was a two-day meeting in Beijing about the smart grid in China. Check out the Cleaner, Greener China blog for some interesting analysis of the event, which included speakers from companies like IBM, ABB, Alcatel-Lucent and Enel.
Estimates vary on how much the Chinese are going to be spending [...]
GM, SAIC Reshape Partnership
WSJ.com
General Motors Co. announced plans Friday to cede control of its key Chinese joint venture to partner SAIC Motor Corp. alongside a push by the partners into India and other emerging markets.
SAIC’s stake in Shanghai General Motors Corp. will rise to 51% from 50% at a time when China is overtaking the U.S. as the [...]
China Poised to Claim Half of Global Online Game Market Next Year, Report Says
WSJ - China Real Time Report
Games are serious business in China. The country’s online game market will reach 41 billion yuan by 2010 ($6 billion), accounting for half the global market, according to newly released data from Cnzz.com Inc., a Beijing-based third-party data analysis firm (related report in Chinese here).
The Cnzz.com report states that almost [...]
China’s Tencent Publishes Financial Report For Q3 2009
ChinaTechNews:
Chinese online game and instant messaging company Tencent has published its unaudited financial report for the third quarter of 2009.
According to the report, Tencent’s revenue during the third quarter was CNY3.369 billion, a year-on-year increase of 66.4% and an increase of 17% over the previous quarter; and its net profit was CNY1.42 billion, a year-on-year [...]
China Unicom, Telefonica Complete Mutual Investments
(From China Tech News)
According to Telefonica, the leading telecommunications operator in the Spanish- and Portuguese-speaking world, the company has completed its stock swap with the Chinese telecom operator China Unicom.
Under the agreement signed by Chang Xiaobing, chairman of China Unicom, and Cesar Alierta, chairman of Telefonica, in Beijing at the beginning of September 2009, the [...]
GM China Sales Surge 56% in Jan-Sept
General Motors said on Friday that its China vehicle sales in the first nine months of this year jumped 55.6 percent from a year earlier, boosted by Beijing’s stimulus policies and boding well for record sales for the full year.
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Goldman in talks to buy Geely bonds
An investment arm of Goldman Sachs (GS.N) is in talks with Chinese car maker Geely Automotive (0175.HK), which has been linked with both Volvo and Opel, to buy about $250 million of the company’s convertible bonds and warrants, two sources said.
“The two sides have basically agreed on the investment in Geely already, but have yet [...]
Unilever Sees China as Long Haul
Anglo-Dutch consumer-products giant Unilever was one of the first multinationals to enter China, nearly a quarter-century ago. But even today, top executives said Tuesday, the market remains too big and untapped to regard profitability as the main measure of success.
“The driver of our growth is not to make money, but to continue investing in this [...]
Leaving Google, Executive to Back Chinese Start-Ups
SHANGHAI — Three days after announcing that he was resigning as the head of Google’s Chinese operations, Kai-Fu Lee said on Monday that he had raised $115 million to create a company that would finance high-tech start-ups in China.
The company, Innovation Works, will search for talented Chinese engineers and entrepreneurs and help them develop the [...]
