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News from China
Mainland, HK M&As add market share
18th October 2017

 MERGERS and acquisitions on the Chinese mainland and Hong Kong managed to take up a slightly bigger share of activities in the Asia Pacific market in the first three quarters of 2017, although the value and number of M&As both dipped from the same period last year.

The market share of Chinese mainland and Hong Kong M&A deals in the Asia Pacific inched up to 42.9 percent in January to September from 42.8 percent in the same period of 2016 by number, according to a Mergermarket report. The value of the M&As took up over half of the whole deal value in Asia-Pacific, the report added.
However, the mainland and Hong Kong saw 1,228 M&A deals worth US$258.9 billion in the first three quarters of the year, or a 12.7 percent drop in value while the number of deals fell by 52 respectively from the same period last year, the report said.
Domestic transactions continued to drive M&A activities in China as they took up US$238.9 billion or 92.3 percent of the total value. That translated to a rise of 14.5 percent in value and 35 deals in number from 2016.
The industry and chemical sector remained the most targeted on the mainland and Hong Kong both by value and number of deals, representing a 8.5 percent rise in value from the same period last year. Some mega deals included the acquisition of Dalian Shipbuilding Industry for US$3.3 billion by a Chinese consortium led by China Cinda Asset Management, and JPMF Guangdong’s US$3 billion takeover of Lingyi Technology, the report said.
In terms of outbound acquisitions, the mainland and Hong Kong recorded US$110.9 billion spread over 298 deals in the first three quarters.
Source: Shanghai Daily, October 18, 2017
Tech firms offered funds to innovate
16th October 2017

 SHANGHAI’S Yangpu District will offer funds to technology and innovation companies under a financing program that seeks to cut the cost of loans.

The Ke Chuang Bao program, launched on Friday, allows qualified medium, small and micro technology firms to gain unsecured loans from designated banks at preferential rates, and get grants from the government to cover part of the interest and guarantee fees.
Shanghai Yangpu Financing Guarantee Co is the official guarantee provider of the program whose initial credit quota is 400 million yuan (US$61 million) while the Yangpu branches of China Construction Bank, Shanghai Pudong Development Bank, Bank of Shanghai, and Shanghai Rural Commercial Bank are the lenders.
Companies applying for the loans must be registered in Yangpu District and have been operating in high technology and emerging industries for more than a year. Their current debt-to-asset ratio must be below 75 percent, and their use of loans is subject to inspection from banks and the guarantee company.
The program was initiated by the Shanghai Office for Promoting Development of SMEs and the Yangpu Financial Services Office.
Source: Shanghai Daily, October 16, 2017
Coal shares sold, military stocks sought
13th October 2017

 SHANGHAI shares closed generally flat yesterday, with investors selling off coal shares while pursuing military counters.

The Shanghai Composite Index dipped 0.06 percent to end at 3,386.10 points.
Coal shares declined the most, with Shanxi Coking Co Ltd falling by 7.56 percent to 9.41 yuan, Jinneng Science & Technology Co Ltd losing 5.10 percent to 25.32 yuan and Baotailong New Materials Co Ltd shedding 2.73 percent.
Non-ferrous metals shares also fell. Sunstone Development Co Ltd lost 6.83 percent and Tibet Mineral Development Co Ltd fell 3.98 percent.
Military counters, however, were sought by investors, with Avic Aviation High Technology Co Ltd hitting the maximum daily cap of 10 percent to end at 13.8 yuan. AVIC Electromechanical Systems Co Ltd rose 5.29 percent and AVIC Helicopter Co Ltd climbed 5.08 percent.
Source: Shanghai Daily, October 13, 2017
Huawei to “popularize” full display
12th October 2017

 HUAWEI aims to cement its leading position in China’s domestic market with a price-aggressive strategy on full-display screen phone models, Shanghai Daily learned yesterday.

Huawei launched three full-display Honor models whose prices start from 1,299 yuan (US$197), less than one-fifth the price of Samsung and Apple’s flagship models which normally cost up to 8,000 yuan.
The new Honor models, which will be available on Tuesday, will “popularize” full-display screens in the market, said Zhao Ming, president of the Honor brand.
“It (full-view screen) is a ‘Wow’ product to woo consumers. And it will become a must-have feature soon, like dual-cameras,” said Jia Mo, analyst at research firm Canalys.
Source: Shanghai Daily, October 12, 2017

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