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SAIC to Mifare cardfurther boost private economy

nospam@example.com (dayi4) — Thu, 22 Dec 2011 20:02:50 -0600

SAIC to Mifare cardfurther boost private economy
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SAIC to further boost private economyPublished: 04 Aug 2009 00:02:01 PST

Private enterprises have maintained stable development with the help of other sectors despite the international financial crisis, according to the State Administration for Industry and Commerce (SAIC).

By the end of June, China had 6.92 million private enterprises with registered capital of 12.81 trillion yuan and 82.12 million business owners. That' s an increase of 5.31 percent in the number of businesses, 9.11 percent in capital, and 3.9 percent rise in the number of entrepreneurs compared with December 2008.

There are 30.64 million individually-owned businesses with capital of 985.13 billion yuan and 61 million practitioners. This means there' s a 5.01 percent increase in the number of businesses, 9.39 percent rise in capital, and 5.59 percent jump in the number of individually-owned businesses compared with December 2008.

According to the SAIC Department for Regulation of the Private Economy, the private economy can be improved in six ways to maintain momentum in the second half of 2009.

The first is for the SAIC encourage enterprises to grow bigger, stronger and more flexible. SAIC encourages them to make investments, and supports setting up cross-industry and trans-regional groups by means of mergers or restructuring.

Secondly, SAIC should expand the financing channels for enterprises. SAIC directs them to make financing through mortgages and pledges, allows equity investments and encourages them to investigate the possibility of debt-to-equity conversion.

Thirdly, middle- and small-sized enterprises should be defined and sub-divided properly to make well-targeted supportive measures for private enterprises of different sizes and within different sectors.

Fourthly, stimulate employment by encouraging business startups. People who start their own businesses and conduct them in line with relevant laws are exempt from administrative and institutional fees for three years.

Fifthly, safeguard the lawful rights and interests of private enterprises by protecting their trade names, registered trademarks and business intelligence.

Finally, SAIC should regulate administration and avoid abuse of power.

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China UnPantalon chicicom's first half profit down 42.1 percent

nospam@example.com (dayi4) — Thu, 22 Dec 2011 20:01:48 -0600

China UnPantalon chicicom's first half profit down 42.1 percent
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China Unicom's first half profit down 42.1 percentPublished: 28 Aug 2009 19:02:01 PST

China Unicom, the country's second largest telecom operator, said Friday its first-half net profit fell 42.1 percent year on year to 6.62 billion yuan (973.5 million US dollars), under international accounting rules.

Revenue stood at 76.32 billion yuan in the first half. Earnings per share were 0.28 yuan, it said in a statement to the Hong Kong Stock Exchange.

Chang Xiaobing, chairman of China Unicom, said the company's restructuring and fierce competition resulted in the profit decline.

Revenue from mobile communication services rose 5.7 percent to 34.19 billion yuan while revenue from fixed-line broadband services surged 10.3 percent to 11.73 billion yuan.

China Unicom said it would improve its mobile communication service in the second half while making more efforts to promote its third generation service (3G) by optimizing the 3G network and launching new products.

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Retail smanhole coverales in lodgings, catering fall in Nov

nospam@example.com (dayi4) — Thu, 22 Dec 2011 20:01:03 -0600

Retail smanhole coverales in lodgings, catering fall in Nov
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Retail sales in lodgings, catering fall in NovPublished: 22 Dec 2008 01:43:48 PST

Dec. 22, 2008 (China Knowledge) - China's accommodation and catering retail sales dropped 6.6% to RMB 137.66 billion in November from the previous month due to the economic slowdown caused by the global financial crisis, sources reported.

The statistics unveiled by the Ministry of Commerce (MOC) on Friday showed that sales revenue growth in November was the lowest in nine months. However, the monthly sales revenue was still 25.1% higher than that of the same period of last year.

The total retail sales in the two industries rose 24.9% to RMB 1.39 trillion during the first 11 months of the year, accounting for 14.2 % of the total retail of consumer goods. Sales from lodging and catering enterprises of designated size and above rose 19.2% to RMB 384.82 billion.

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Powerlonmulti foil insulationg Real Estate lowers IPO price

nospam@example.com (dayi4) — Thu, 22 Dec 2011 20:00:32 -0600

Powerlonmulti foil insulationg Real Estate lowers IPO price
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Powerlong Real Estate lowers IPO pricePublished: 04 Oct 2009 16:28:14 PST

Oct. 5, 2009 (China Knowledge) - Fujian-based real estate developer Powerlong Real Estate Holdings<1238> announced that it will lower its IPO price range to between HK$2.75 and HK$3, from the previous HK$3.3 to HK$4.9.

The decision was made out of concerns that investor enthusiasm for IPOs has faltered as four mainland Chinese companies listed on the Hong Kong Stock Exchange last month, namely Metallurgical Corp of China, China Lilang Ltd, Peak Sport Products Co and China South City, all traded below their IPO prices.

The price cut may help the company achieve better performance after listing, according to the company's advisors for the deal.

It is estimated that the company's debut on the HKEx will be postponed accordingly. The stock was expected to be listed on Oct. 9.

The Chinese developer is offering 1.0 billion shares, or 25% of the company's capital. About 85% of the shares are primary shares and 15% are secondary shares to be sold by chairman Hoi Kin Hong, according to the prospectus.

Goldman Sachs, ICBC International and Macquarie are the joint book runners for the offering.

Hang Senschool playgroundg Index finishes 1.78% higher at midday

nospam@example.com (dayi4) — Thu, 22 Dec 2011 20:00:05 -0600

Hang Senschool playgroundg Index finishes 1.78% higher at midday
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Hang Seng Index finishes 1.78% higher at middayPublished: 12 Oct 2009 22:19:04 PST

Oct. 13, 2009 (China Knowledge) - Hong Kong stocks swelled 379.8 points or 1.78% to end the morning session at 21,679.15 points, with mainboard turnover standing at HK$33.59 billion.

The Hang Seng China Enterprise Index, which tracks the overall performance of 43 Chinese mainland state-owned enterprises on the Hong Kong Stock Exchange, swelled 247.77 points to 12,623.7 points.

Market heavyweight HSBC Holdings Plc<0005><HBC>, which accounts for the largest weighting for the Hang Seng Index, rose 1.14% to HK$89.1.

Local property developers were winners in the morning trading. Sun Hung Kai Properties<0016> went up 0.94% and closed at HK$117.8. Cheung Kong (Holdings) Ltd<0001> swelled 2.06% to HK$99.25. Hopson Development Holdings Ltd<0754> swelled 1.02% to HK$13.82. Henderson Land Development Co Ltd<0012> rose 1.81% to HK$53.3.

However, mainland-based developers ended lower. Agile Property Holdings Ltd<3383> slid 0.31% to HK$9.66. SOHO China Ltd<0410> fell 0.23% to HK$4.36.