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• On January 15, 2012 lqkkgg1 said:

  Midea to sac pas cher integrate washing machine business into Little Swan
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  Midea to integrate washing machine business into Little SwanPublished: 09 Oct 2009 00:02:01 PST

  Guangdong Midea Electric Appliances Co. Ltd (Midea) will integrate all of its washing machine business into Wuxi Little Swan Co., Ltd to end internal competition, according to a Caijing report Friday. Midea is one of Little Swan’s shareholders.

  An electrical appliances analyst who declined to be named told Caijing that the internal competition between the two companies has been puzzling the two companies for years. Previously there were rumors that Midea would not only integrate its washing machine business into Little Swan, but also integrate with Royalstar Group, Midea’s fully-owned subsidiary, into Little Swan to settle the problem of internal competition.

  Bi Yan, an electrical appliances analyst from Merchants Securities said that if the rumor is true, undoubtedly, this deal is good for Little Swan. As for Midea, it can increase its shares in Little Swan so that it can gain from the latter’s profit growth.

  He added that the key to this deal lies in the evaluation of assets of Royalstar’s washing machine business and how many more shares Midea can get from Little Swan. The number of increased shares needs to be agreed upon by both shareholders of Midea and Little Swan.

  Midea Board Secretary Li Feide did not give direct answer on whether the deal was true when interviewed by Caijing, only saying the company is working on the initiative of integrating Midea with Little Swan at present.

  At the beginning of this year Midea began reforming its marketing system and has established more than 50 regional sales companies in China. Midea has integrated the sales of refrigerators into the system in the first half of the year and they will do the same with washing machines next.

  According to the unnamed analyst, these 50 sales companies were established by the core distributors of Midea and the shares of these companies are all independent from Midea and Little Swan.

  The two companies announced Thursday that they will suspend trading from Friday because Little Swan is undergoing big asset restructuring and would resume trading before October 21.

  Midea holds a 29.64 percent stake in Little Swan, 24.01 of which are shares, and the rest are through Midea’s subsidiary.

  Li Na contributed to the stroy

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• On January 15, 2012 lqkkgg1 said:

  CNPC’s G E1 Voice multiplexer M to visit London
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  CNPC’s GM to visit LondonPublished: 04 Aug 2009 02:02:01 PST

  China National Petroleum Corporation (CNPC) General Manager Jiang Jiemin will travel to London this week to confer with BP’s top management about the two oil giants’ landmark co-operation in Iraq, a CNPC official confirmed Monday.

  British energy giant BP and China’s CNPC International Ltd succeeded in their bid for the giant Rumaila oil field in southern Iraq on Jun. 30. The companies were announced as the first foreign firms in decades to win contracts to invest and develop Iraq’s war-battered energy sector.

  Their winning bid promises to increase Rumaila’s oil production from 1.1 million barrels per day to more than 2.8 million, with a payment of $2 per barrel.

  According to a senior manager of CNPC who is close to transaction, said the consortium of BP and CNPC had made the preliminary confirmation of the shares before the bid, with BP holding the largest amount at 50 percent and CNPC and Iraqi Southern Oil Company each with 25 percent.

  Christof H. Ruehl, BP’s vice president and chief economist said in an interview with Caijing in Beijing on Jul. 17 that BP and CNPC might split their joint venture 50-50 to develop Iraq’s Runamila oil field.

  But another senior manager in charge of CNPC’s international business noted the companies have yet to agree on the share arrangement.

  "The share-holding will not be finalized until the three parties sign a contract scheduled at the end of October, with CNPC likely to take a larger stake than BP," the manager added.

  Jiang’s London visit will also cover a possible joint venture to build a refinery in China.

  An advocate of "going global", Jiang also plans to tour BP’s oil production facility in Scotland during his visit.

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• On January 15, 2012 lqkkgg1 said:

  China’s Glyphosate import-export value fell 10.1% in Sep
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  China’s import-export value fell 10.1% in SepPublished: 14 Oct 2009 00:30:50 PST

  Top 5 News From ChinaKnowledge.comShell, Shaanxi Yanchang to open 100 gas stations in NW China’s ShaanxiLas Vegas Sands to offer shares in HK in late Nov: reportCDB may buy Stockfly Securities: reportCoca-Cola enters China’s dairy drink marketVW’s China sales up 37% in Jan-Sep

  Oct. 14, 2009 (China Knowledge) – China’s import and export value in September decreased 10.1% year on year to US$218.94 billion, according to statistics released by the General Administration of Customs today.

  The September decline was smaller than that of August when China reported a drop of 20.6% year on year.

  China posted an import value of US$103.01 billion for September, a decrease of 3.5% year on year, but an increase of 17% month on month. Meanwhile, the export value was US$115.93 billion, down 15.2% from a year earlier, but up 11.8% from August.

  In the first nine months of the year, the import and export value dropped 20.9% year on year to US$1.56 trillion. Exports fell 21.3% to US$846.65 billion while imports slid 20.4% to US$711.17 billion.

  Trade surplus amounted to US$135.48 billion in the period from January to September, reflecting a year-on-year decline of 26%.

  Trade value between China and the country’s three major trade partners, the E.U., the U.S. and Japan, was US$260.05 billion, US$211.88 billion, and US$162.22 billion last month, down 19.4%, 15.8% and 20%, respectively.

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• On January 15, 2012 lqkkgg1 said:

  Best Buy capsule filling machine , Samsung sign CPFR agreement in Beijing
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  Best Buy, Samsung sign CPFR agreement in BeijingPublished: 17 May 2009 23:55:02 PST

  Top 5 News From ChinaKnowledge.comChina Unicom officially launches 3G servicesHang Seng Index opens 321.99 points lower on MonHSBC Jintrust to launch large-cap equity fund in ChinaChina’s fiscal revenue down 9.9% in Jan-AprCNOOC to invest RMB 30 bln in coal-to-gas project in Shanxi

  May 18, 2009 (China Knowledge) – Best Buy Co Inc, a global consumer electronics retailer, and Samsung Electronics Co Ltd on Friday signed a Collaborative Planning, Forecasting and Replenishment (CPFR) agreement in Beijing to share information about the Chinese retail market, sources reported.

  Under the agreement, the two firms will enhance supply chain integration by supporting and assisting joint practices. They will monitor market demands, share customer feedback information and work together to reduce operating costs.

  This cooperation is the first one in China’s electronics industry to follow a CPFR model, according to sources.

  In 2004, Best Buy and Samsung launched a CPFR cooperation in the North American market. It greatly improved efficiency by cutting expenditures for merchandising, inventory, logistics, and transportation.

  Best Buy, which acquired China’s Jiangsu Five Star Appliance Co Ltd, earlier said it plans to open several hundred new outlets in China in the next five to ten years, and that it plans to open between seven and twelve this year.

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• On January 15, 2012 lqkkgg1 said:

  BOC HK’s Surge suppressors mini-bond holders demand settlement ASAP
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  BOC HK’s mini-bond holders demand settlement ASAPPublished: 24 May 2009 19:05:48 PST

  Top 5 News From ChinaKnowledge.comFar Eastern Bank to acquire AIG’s Taiwan credit card businessChina Minsheng to issue 15 mln credit cards in next 3 yearsHenderson Land starts selling 1st 20 flats at 8 Royal GreenDalian Jinniu to purchase property assetsU.S.-based BorgWarner launches JV in DalianMay. 25, 2009 (China Knowledge) – Bank of China (Hong Kong) Ltd<2388>, the largest distributor of Lehman Brothers-linked products in Hong Kong, has been asked by hundreds of Lehman mini-bond holders to settle their cases faster, the Standard reported.

  On Thursday the mini-bond holders gathered outside the Hong Kong Convention and Exhibition Centre, Wan Chai, during the annual meeting at the company’s headquarters there, asking the bank to resolve the issue with the mini-bonds as soon as possible.

  The bank has already deployed resources to deal with the matter, said President He Guangbei, adding that the bank is handling the issue actively and seriously and expects to wrap up the cases soon. The bank has set up an internal audit committee and continues to discuss the matter with regulators.

  However, he provided no timetable.

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