China Economic ReviewMcDonald's plans to boost its mainland network to 1,000 by 2008 from its current 640 outlets, increasingly through franchising, the South China Morning Post reported, quoting Marvin Whaley, president for Asia, the Middle East and Africa. Currently, all but one new outlet in Tianjin are run as joint ventures.
In a posting on the China Banking Regulatory Commission website, the CBRC signaled Beijing would restructure the mainland's Postal Savings & Remittance Bureau, possibly as a standalone commercial bank, displacing fifth-ranked Bank of Communications in size, if reform of the 30,000 branch organization took that path. According to government data, postal deposits in June stood […]
Hong Kong's PCCW announced a much-anticipated deal to sell a 20% stake in the company to China Netcom, the mainland's second-largest fixed-line carrier. The sale, described by both companies as a "strategic alliance", prices the stake at US$1bn, or HK$5.90 (US$0.76) a share, a premium of 25.5% over PCCW's closing price Wednesday before trading was […]
Canada-based Nortel Networks Corp said it had signed a framework agreement to establish a wireless joint venture with China Putian Corp. The proposed company, Putian-Nortel Networks Telecommunications Equipment Co., will likely be headquartered in Wuhan, central China, and will focus on research, development and manufacturing of 3G equipment for the China market. It will develop […]
Huadian Power International announced it aims to raise up to RMB1.93bn (US$233.4m) from its first domestic share offering after pricing its stocks at a discount to its peers. Announcing a price range of RMB2.3-2.52, China International Capital said Haudian would sell up to 765m shares. The announcement was preluded a fall in share prices of […]