China Economic ReviewAnheuser-Busch increased its stake in Harbin Brewery to 36%, prompting a general takeover offer for the rest of the Chinese brewer's shares, Hong Kong's Securities and Futures Commission said. Under takeover rules in Hong Kong, a shareholder that increases its stake in a company to more than 30% must make a general offer for the […]
The People's Liberation Army will launch a coordinated land-air-sea military exercise later in June on Fujian province's Dongshan Island 150 km from Taiwan, according to the Beijing-backed Hong Kong newspaper Ta Kung Pao. The exercise will be China's first display of military force since the reelection of Taiwan President Chen Shui-bian. The exercise will reportedly […]
China Construction Bank announced that it sold US$169 million in assets to Morgan Stanley and Deutsche Bank. The sale is the largest of its kind during China's drive to prepare domestic banks for foreign competition by late 2006, when the banking sector will be opened under China's World Trade Organization commitments. Ernst & Young, CCB's […]
Dow Chemical said it plans to invest US$10 million to construct a second latex production line at its Zhangjiagang, Jiangsu province joint venture. US-based Dow will be able to produce 49,000 tons latex annually at the facility after the expansion, nearly double its current production capacity. Dow also plans to invest in an ethylene production […]
The Export Import Bank of China plans to loan Dongfang Electric a total of US$1 billion to fund the state-owned power generation equipment manufacturer's overseas expansion, according to Chinese media citing a report on the State-owned Assets Supervision and Administration Commission website. China has been pushing domestic firms to expand overseas in recent years. The […]