China Economic ReviewConglomerate China Resources Enterprise has agreed to the purchase of two supermarket chains for US$51 million in a bid to enter markets in Tianjin and Ningbo, the Wall Street Journal reported. CRE will acquire 95 Zhejiang Cikelong supermarkets in Cixi, Ningbo for US$35 million and all 28 Tianjin outlets of Yuetan for US$16 million. Cikelong's […]
China sacked and detained several government officials following its investigation into forced abortions carried out by family planning officials overly eager to implement China's "one child" policy, The Scotsman reported. Around 12,000 women in the Linyi city of Shandong province underwent forced abortions or sterilizations in the past 12 months.
Peabody Energy Corp, one of the world's largest coal companies by revenue, opened a Beijing office yesterday and announced plans to take a minimum 20% stake in a joint venture or in local companies in China in the next 12 months, the Wall Street Journal reported. "In five to ten years [China] will be a […]
Baidu.com Inc announced plans to appeal a Beijing court ruling that found the Chinese search engine guilty of violating copyrights held by a local affiliate of music major EMI Group PLC, the Wall Street Journal reported, citing Baidu's lawyer. The court ruled Baidu's website provided access to illegal MP3 files of music copyrighted by Shanghai […]
China Minsheng Bank, China's only privately-controlled lender, has postponed its planned US$100 million IPO until next year, and will first complete the conversion of its non-tradable shares into tradable stock, the Standard of Hong Kong reported, citing inside sources. Minsheng plans to give investors three bonus shares for A-shares currently held as compensation for the […]