Posted by: Cherry Zhang on Mar 11 2010

An unnamed source says that business-to-business e-commerce site Alibaba.com (1688.HK) CEO David Wei has contacted eBay (Nasdaq:EBAY) about using eBay's online payment tool PayPal for Ali Express, a B2B platform for international customers, reports qq.com...

Posted by: Kiki.yang on Mar 11 2010

China's consumer price index (CPI) rose 2.7% in February, representing a 1.2 percentage point increase in growth rate from January, according to data announced March 11 by the National Bureau of Statistics...

Posted by: Ana Swanson on Mar 11 2010

Solar wafer manufacturer ReneSola Ltd (NYSE:SOL, AIM:SOLA) reported a fourth quarter net loss attributable to owners of ordinary shares of $19.9 million, or $0.12 diluted loss per share, compared to net losses of $128.3 million in the fourth quarter of last year and $10.2 million in the previous quarter...

Posted by: Ana Swanson on Mar 11 2010

Trina Solar's (NYSE:TSL) subsidiary, Changzhou Trina Solar Energy, has signed an agreement to supply 25MW of photovoltaic modules in 2010 to Sonepar USA's southwest US company Essco Wholesale Electric, Trina announced March 10...

Posted by: Sophia Fu on Mar 11 2010

Online travel services provider Ctrip.com International (Nasdaq:CTRP) has started a best price guarantee promotion for its hotel booking service, according to an announcement on the company's website. The company is offering compensation worth three times the difference to customers who find lower prices elsewhere, the announcement said.

Posted by: Sophia Fu on Mar 11 2010

Ping An Insurance (Group) (2318.HK, 601318.SH) subsidiary Ping An Property & Casualty Insurance Company plans to issue up to RMB 3.5 billion worth of 10-year directional subordinated bonds in up to four phases, 21st Century Business Herald reported citing a related subscription prospectus...

Posted by: Sijia Xie on Mar 11 2010

China's largest private lender, Agricultural Bank of China (ABC), saw net profit rise 26.3% annually to RMB 65 billion in 2009, China Daily reported March 11. ABC's capital adequacy and bad-loan ratio stood at 10.07% and 2.91%, respectively, by the end of 2009, while the provision ratio for bad loans increased to 105.37% from 63.53% in 2008, the report said.

ABC plans to increase its market share in major cities and abroad, especially in South America and the Middle East, ABC Chairman Xiang Junbo said...

Posted by: Cherry Zhang on Mar 11 2010

Sohu's (Nasdaq:SOHU) online game subsidiary Changyou (Nasdaq:CYOU) has prepared nine promotional activities between March 18 and April 12 for the open beta testing of its licensed Q-style turn-based 2D MMORPG Dahua Shuihu, which will begin on March 18, according to a posting on the game's official site...

Posted by: Kiki.yang on Mar 11 2010

Shenzhen-based real estate developer Gemdale (600383.SH) made RMB 806 million in the first two months of 2010 from the sale of 74,100 square meters of property, representing decreases of 52% and 58.6% year-on-year, respectively, the company announced March 10.

Gemdale's December contract sales generated revenue of RMB 3.17 billion, up 179.1% year-on-year.

Posted by: Cherry Zhang on Mar 11 2010

Business-to-business (B2B) e-commerce site DHgate.com has completed third-round funding in the amount of tens of millions of US dollars, reports Sina quoting DHgate.com CEO Diane Wang. An unnamed source said that DHgate.com received the investment before Chinese New Year (February 13-19, 2010), and that existing investor Kleiner Perkins Caufield & Byers joined the funding round...

Posted by: Sijia Xie on Mar 11 2010

Following its acquisition of 20% stake in Shanghai Pudong Development Bank (SPDB) (600000.SH), China Mobile (NYSE:CHL, 0941.HK) has no plans to further increase its holdings in SPDB or become its controlling shareholder, China Mobile Chairman and CEO Wang Jianzhou told Hong Kong media in an interview, cctime reports...

Posted by: Cherry Zhang on Mar 11 2010

Video site Ku6.com announced March 11 that it plans to focus on video sharing, while its new site, "Ku6 Theater," will host films, TV series and longer video content at juchang.com, reports 163.com. Ku6.com said in December that it planned to separate into two sites, one for video sharing and one for high definition video.

Ku6.com will integrate news-related content to follow YouTube's model, while the new site will be a video portal similar to Hulu, said Ku6.com CEO Li Shanyou...

Posted by: Cherry Zhang on Mar 11 2010

Business-to-consumer IT e-commerce site 360buy.com announced March 11 that it has completed the acquisition of SK Telecom's (NYSE:SKM, 017670.SEO) Beijing-based business-to-consumer shopping site Qianxun.com, reports Sohu...

Posted by: Sophia Fu on Mar 11 2010

Electronics manufacturer TCL Group (000100.SZ) generated revenue of RMB 44.3 billion in 2009, up 15.29% year-on-year, the company announced March 11. Net profits excluding minority interests totaled RMB 470.07 million in the same period, down 6.19% year-on-year...

Posted by: Sijia Xie on Mar 11 2010

Bank of China (BoC) (3988.HK,601988.SH) Chairman Xiao Gang said March 11 that the bank wants to issue a follow-on offering of H shares, equal to 20% of its existing H share capital, Sina reports. BoC does not yet have a detailed timetable for the recapitalization, but it hopes to get regulatory approval as soon as possible, Xiao said...