The rush by many Chinese companies to go public has prompted a warning to smaller and younger firms seeking IPOs on overseas markets, state media reported. It cited an advisor to the China Securities Regulatory Commission, also a partner in Ernst & Young Beijing, which has launched its Global IPO Survey 2005, with cautionary advice. […]
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Minsheng Banking Corp Ltd may delay listing its H-shares in Hong Kong after shareholders cited the Bank of Communications' relatively low IPO pricing and urged the bank to stick to its original higher offer, state media reported, quoting a bank official. The Shanghai-listed Minsheng bank is "waiting for the right time to complement its H-share […]
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McDonald's pulls "insulting" TV ad
Fast-food giant McDonald's has pulled a television ad in China that some viewers considered offensive, state media reported, citing local news reports. In the ad, a Chinese man is shown kneeling, begging for a discount from an electronics salesman who refuses because his coupon has expired. Then the ad says people don't have to beg […]
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US Home Depot seeks Orient stake
Home Depot, the leading US do-it-yourself chain, is in talks with its mainland counterpart, Orient Group, to buy a stake for as much as US$500 million, The Standard of Hong Kong reported, citing China Business News and an Orient Home official. Home Depot operates two procurement centers on the Mainland and has announced it wants […]
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Insurance premiums up 15%
Insurance premiums rose by 15.39% in the first five months of the year to 219.5bn RMB (US$26.5bn), the China Daily reported, citing the China Insurance Regulatory Commission. The commission said premiums from property and casualty insurance rose by 20.5% from a year earlier to 56.98 billion RMB and life insurers earned 162.5bn RMB in the […]