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Weekly snapshot of China's local business news
Highlights of China's key local business news from the past week.
China's Zoomlion stresses localization during internationalization, says CEO
China's Zoomlion Heavy Industry Science & Technology Co., Ltd, has stressed localization during the process of internationalization, Zhan Chunxin, CEO of Zoomlion, has told the press at the bauma 2019 construction machinery trade fair here.
List of Top 50 Chinese Global Brand Builders 2019 released Fri
List of BrandZ™ Top 50 Chinese Global Brand Builders 2019 was released in Beijing on Friday, showing the excellent overseas marketing of the Chinese companies.
Pilot reform removes permit for corporate bank account
Companies in Jiangsu and Zhejiang provinces in east China no longer have to ask for official approval when opening bank accounts starting Feb. 25, as China continues reforms to improve its business environment.
China Yangtze Power net profit up 1.7 pct in 2018
China Yangtze Power Co. Ltd., the country's largest listed power company, posted a 1.66 percent annual increase in its net profits in 2018, on more electricity sales.
Chinese rail company completes subway cars earmarked for delivery to U.S. state of Massachusetts
A Chinese rail company on Tuesday said that it has completed the production of a pair of subway cars to be delivered to the U.S. state of Massachusetts.
China's private companies, self-employed households flourish in past 40 years
The numbers of China's private companies and self-employed households have grown rapidly over the past 40 years of reform and opening up, according to the State Administration for Market Regulation (SAMR).
Chinese company signs cooperation MoU with Danish wind turbines manufacturer
Chinese composite materials producer Weihai Guangwei Composites Co., Ltd signed a MoU with a Danish wind turbines manufacturer, agreeing to build a carbon beam plant in Mexico.
Operating income of China's property management companies exceeds RMB600 bln in 2017
The operating income of China's property management companies hit 600.72 billion yuan (86.8 billion U.S. dollars) in 2017, accounting for 1.4 percent of the value-added of China's service industry, according to a report released by CPMI on Monady
Chinese company purchases American assets to produce copper pipes
A Chinese company purchased assets in Texas, U.S., as well as related rights to build a production line of copper pipes.
JALA Group shares skin care technology at global top cosmetic conference
China’s leading cosmetics enterprise JALA Group lately was invited to attend the 30th International Federation of Societies of Cosmetic Chemists (IFSCC) Congress and shared the high-level skin care technology of the company with industrial experts.
Lepu Medical to inject USD12.5 mln into American company Rgenix
Lepu Medical Technology (Beijing) Co., Ltd. announced that it plans to invest 12.5 million U.S. dollars to join in series C funding of American biopharmaceutical company Rgenix.
Chinese company to serve as EPC of land reclamation project in Strait of Malacca
A Chinese company will serve as EPC of land reclamation project in Malacca city, Malaysia.
Chinese companies' overseas profit grows
The earning ability of Chinese companies operating overseas remained robust as their profit jumped by 52 percent year-on-year to 137.8 billion U.S. dollars in 2017, the Ministry of Commerce said on Friday.
Blue Sail raises RMB1.837 bln to purchase Biosensors International Group
Blue Sail announced on late Tuesday that it had issued 98.871 million shares to raise a total of 1.837 billion yuan at 18.58 yuan per share.
China's industrial profits up 17.1 pct in Jan.-July
Profits of China's major industrial firms grew 17.1 percent in the first seven months of 2018, slightly down from the 17.2-percent expansion for the January-June period, official data showed Monday.
China Merchants Group, Sinopec Group signs strategic cooperation agreement
China Merchants Group signed a strategic cooperation agreement with Sinopec Group on Monday.
Ganfeng Lithium (002460.SZ) to purchase 37.5pct stakes in Argentina's company
Ganfeng Lithium Co., Ltd. (002460.SZ) announced on Tuesday that its subsidiary had set up a new company in Holland that purchased 37.5 percent stakes in Argentina’s Minera Exar with a total of 60.30 million U.S. dollars.
Quora-like platform Zhihu raises $270m
Chinese popular question-and-answer website Zhihu announced it has completed a $270 million E-round financing, the biggest in the company's history, The Paper reported.
Client Service International (300663.SZ) buys 67.15pct stakes of S. Korean company SUNJESOFT
Client Service International, Inc. (300663.SZ) announced on Thursday that its Hong Kong subsidiary planned to purchase 67.15 percent stakes in the South Korean company SUNJESOFT with 73 million yuan.
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