Sina.com said it will acquire job-search company Crillion Corp for US$125 million in cash and shares. Shenzhen-based Crillion specializes in wireless messaging related job searching. Nasdaq-listed Internet portal Sina said the deal will bring it 2 million new paying customers.
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The Shanghai government said that it was waiting for approval for a magnetic levitation (maglev) train line connecting the city with Hangzhou in neighboring Zhejiang province. Beijing must approve the 200 km line, which is likely to be built by German consortium Transrapid. Members of Transrapid include Siemens and ThyssenKrupp. The plan proposes extending the […]
Mainland brewer China Resources Breweries (CRB) purchased Zhejiang Qianpi Group, Zhejiang province's largest brewer, bringing the firm closer to the brewing capacity of industry leader Tsingtao Brewery. CRB's acquisition of a 70% stake in Zhejiang Qianpi raises CRB, China's second-largest brewer by sales volume, to a total annual brewing capacity of 4.56 million kiloliters, inching […]
US investment fund Newbridge Capital will acquire a 4.82% stake in joint-stock bank Minsheng Bank, according to Minsheng officials. No financial details were provided. Minsheng is aiming to raise US$1 billion by listing in Hong Kong in 2004. Newbridge, if approved by the China Banking Regulatory Commission, is expected to buy 175 million shares in […]
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US trade chief warns China
US Trade Representative Robert Zoellick warned China that the US may erect trade barriers against Chinese products unless the Chinese market is opened to more exports from the US. Zoellick's comments came during a hearing by the Senate Finance Committee regarding the Bush administration's trade policy. China and India have been fingered by US politicians […]