China Economic ReviewMalaysia's Wah Seong Corp has acquired a 50 per cent stake in Hubei-based Socotherm (Shahsi) Pipe Coating Co. The two firms will work together coating pipes on the eastwest gas pipeline linking Shanghai with Xinjiang. Socotherm is already working on an 800km section of the project. Wah Seong also hopes to become involved in its […]
Chinese battery maker BYD announced that it was acquiring a 77 per cent stake in motor manufacturer Xian Zhen Chuan Automobile for Yn270m. The two state-owned companies that were the original owners will continue to hold the remaining 23 per cent. Xian Zhen Chuan makes cars under the Flyer brand. Last year, it posted a […]
GE Capital is the group's huge financial services arm, and perhaps the most aggressive of its divisions around the world. GE Capital accounts for more than 40 per cent of GE's revenues and, under Jeff Immelt, its structuring and operations have been changed to give investors more clarity on its finances. From 1995, the division […]
China Shipping Container Lines (CSCL) will deploy five of the world's largest container ships by 2005. The 7,800 teu ships have been ordered by Vancouver-based shipbroker Seaspan and will be chartered by CSCL on long-term contracts from delivery. The order, worth an estimated total value of US$350m, has been placed by Seaspan with the Korean […]
China's first Sino-foreign mutual fund joint venture has been set up in Shenzhen, Guangdong province, Xinhua reported. The joint venture is operated by ING of the Netherlands, which holds 30 per cent, China Merchant Securities with 40 per cent and three other Chinese partners holding a combined 30 per cent. Regulations on the establishment of […]