Clicks, clanks and ringing

Click is what Xiaolingtong – also known as personal handphone system (PHS) – users will hear when China Telecom and China Unicom discontinue the service to make way for China’s home-grown 3G technology, TD-SCDMA. That is if there are any of them left. Most users have switched over to proper mobile phones since China Mobile and China Unicom lowered their fees to compete with the PHS service. The clanking sound of pickaxes is what executives at Shenzhen Zhongjin Lingnan Nonfemet are hoping to hear as they move closer to making their US$29.2 million takeover of Australian miner Perilya a reality. The company received approval from Australia’s Foreign Investment Review Board yesterday. China’s textile and heavy machinery manufacturers have something to hope for, too: the sound of ringing tills. Beijing just announced a stimulus package that, among other things, increased textile export rebates to 15% from 14% the second increase in three months. True, that may not increase sales, but it could stave off bankruptcy for many firms. Further incentives to encourage research and development were also announced.