Philips buying Shanghai Povos unit for $355m

2011-07-12 10:25:49

Royal Philips Electronics NV plans to buy a unit of Chinese home appliance maker Shanghai Povos Enterprise Group Co for 2.3 billion yuan ($355 million) to 2.5 billion yuan, Xinhua News Agency reported, citing unidentified people familiar with the transaction.

Bridge changes China's image

2011-07-12 10:14:07

"Made in China" used to be synonymous with cheap consumer goods, but one machinery maker wants to change the image of the nation's manufacturing sector.

Luxury furniture investigated for forging ‘birth certificate’

2011-07-12 09:59:45

DaVinci Furniture is under investigation after it was revealed that its products said to be imported from Italy were made in China.

The challenges of company succession

2011-07-12 09:34:22

Lenovo Group Ltd may not want to disclose its succession plans but at least it has one. There's a good reason for the secrecy: Revealing who is going to replace whom puts the group at a disadvantage because it will encourage competitors to recruit its best people.

SAFE underscores stance on hot money

2011-07-12 09:51:42

The State Administration of Foreign Exchange (SAFE) on Monday reiterated its tough stance on curbing hot money inflows, which threatens the nation's financial stability and triggers inflation.

Chinese and US regulators meet to discuss accounting scandals

2011-07-12 09:45:04

Strengthened regulation by Chinese and US policymakers may reduce the number of Chinese companies listed in the United States, but it will boost investor confidence, said experts.

Equities rise as inflation concerns decrease

2011-07-12 09:43:49

Stocks on the Chinese mainland rose, spurring the biggest gain for the benchmark index in a week, on speculation inflation will decelerate the rest of the year and the nation's economic growth may sustain earnings.

A taxing issue for online shops

2011-07-12 09:27:27

It started a year ago, when China issued its first regulationtargeting online trade and services. Then, last month, Wuhan cityofficials collected more than 4.3 million yuan ($665,000) in taxfrom a company that sells clothing online.

Plug pulled on BYD financing venture

2011-07-11 11:18:47

Domestic automaker BYD has agreed to terminate a planned joint venture with a subsidiary of French bank Societe Generale that would have offered financing for new car purchases, the carmaker announced on July 5.

Recovering output for Japanese automakers

2011-07-11 13:08:06

As parts supplies recover and production is back on track, Japan's carmakers have regained sales momentum three months after the devastating earthquake and tsunami in March.

50 million cars a year by 2021: DRC

2011-07-11 09:25:56

Despite a slowdown this year, the Chinese auto market may triple in size over the next 10 years, said a senior member of an influential government think tank.

Scorching pace for luxury brand sales

2011-07-11 10:28:01

Luxury car sales maintained a scorching pace in China in the first half of this year despite the slowing overall auto market.