China :: Business :: Deals

Hong Kong-based China Everbright International has sealed an investment agreement with China’s Ningwu County Government to build three wind farms in north central Shanxi Province. China Everbright to build three wind farms in Shanxi Province China Everbright to build three wind farms of 450MW in China Hong Kong-based China Everbright International has sealed an investment agreement with China’s Ningwu County Government to build three wind farms in north central Shanxi Province.

Daylife /Reuters Pictures used by permission European aviation giant Airbus is set to deliver the first A320 airplane assembled at its factory in China, in a symbolic event further marking the nation’s global rise. The first plane to be made at plant in northern Tianjin, the only Airbus factory outside Europe, will be delivered to Dragon Aviation Leasing and will be flown by Sichuan Airlines, a regional Chinese air carrier… The plane took its first test flight last month with the first Chinese test engineer trained by Airbus. Ten middle-distance A319/320 aircraft will be delivered by the end of the year, before the factory starts to churn out up to four planes a month before the end of 2011… The joint venture factory, about 120 kilometres (72 miles) southeast of Beijing, is 51 percent owned by Airbus, subsidiary of the European group EADS, and 49 percent by a Chinese aviation consortium. At the inauguration Airbus chief-executive-officer Thomas Enders said the company’s...

Waiting for China's housing bubble to pop -- property investment in China in 2009 was 10% of GDP, up from 8% in 2007. In Japan, at the peak of its bubble, it did not exceed 9%. In the U.S. it never exceeded 6%. In times of crisis alternative economic models become more appealing. Since the USA, the beacon of capitalism was the epicentre for the current crisis and the Chinese economy escaped relatively unharmed, there is a certain logic in asserting that the central planners in China have the right economic prescription. But as James Chanos and others have pointed out, centrally planned economies lead to malinvestment and nowhere is that malinvestment more manifest than in China’s Property market. Consider John Mauldin’s November 24th, Outside the box interview with Vitaliy Katsenelson. Katsenelson compares Japan’s property bubble of the late 1980′s to modern day China and the results aren’t pretty, from the article: VK: In the same way that everyone in the ...

Venezuela secured a $20 billion loan from China and agreed to form a joint venture to pump crude oil from a block in the Orinoco Belt, President Hugo Chavez said as he promised to meet the Asian country’s energy needs... (Bloomberg) -- Venezuela secured a $20 billion loan from China and agreed to form a joint venture to pump crude oil from a block in the Orinoco Belt, President Hugo Chavez said as he promised to meet the Asian country’s energy needs. Chavez said the $20 billion financing from China is separate from a $12 billion bilateral investment fund, without providing details. Venezuela currently sends China 460,000 barrels a day of crude oil to repay an $8 billion loan that finances infrastructure projects in the South American country. “We agreed on a huge long-term financing plan,” Chavez said on state television. “This is a larger scope, a super heavy fund. China needs energy security and we’re here to provide them with all the oil they need.” Vene...

China National Chemical Engineering will raise as much as 6.70 billion renminbi ($980 million) in an initial public offering, Reuters reported. The offering, with a price of 4.90 to 5.43 renminbi a share, will take place in Shanghai. The building company intends to sell 1.233 billion renminbi-denominated A shares, or 25 percent of its expanded capital after the I.P.O. China Natl Chem Shanghai IPO to raise up to $980 mln Dec 24 (Reuters) - Building company China National Chemical Engineering Co plans to raise as much as 6.70 billion yuan ($980 million) in an initial public offering in Shanghai, after it set an IPO price range of 4.90 to 5.43 yuan per share. China National Chemical ( 601117.SS ), whose competitors include China State Construction Engineering Corp ( 601668.SS ) and Metallurgical Corp of China ( 601618.SS )( 1618.HK ), will sell 1.233 billion yuan-denominated A shares, or 25 percent of its expanded capital after the IPO. The range allows it to raise between 6.04 ...

(Reuters) - China's second-largest wind turbine maker, Xinjiang Goldwind Science & Technology Co Ltd, plans to raise up to $1.2 billion in a Hong Kong initial public offering, sources close to the deal said. The offering will test the appetite for renewable energy firms in a market heavy with property and financial companies. The Hong Kong stock exchange said earlier this year it would mine mainland Chinese and international markets to keep its listing momentum. Goldwind's attempt at a Hong Kong IPO could mark the largest offering by a Chinese wind company since the $2.2 billion listing in December of the nation's biggest wind-power producer, China Longyuan Power Group Corp. "Goldwind's IPO is set to test the market's appetite for renewable plays," said Jackson Wong, investment manager at Tanrich Securities. "Its success could signal more IPOs of its kind in the next few months, though unstable markets are still a concern." Hong...

A potential investor collects application forms and a Agricultural Bank of China prospectus during its initial public offering (IPO) in Hong Kong June 30, 2010. Credit: Reuters/Tyrone Siu By Kennix Chim and Michael Flaherty HONG KONG/SINGAPORE | Tue Jul 6, 2010 1:36pm EDT HONG KONG/SINGAPORE (Reuters) - Agricultural Bank of China priced its Hong Kong and Shanghai dual listing on Tuesday, a deal that would break all IPO records by raising more than $22 billion when adding in over-allotment shares. The initial public offering (IPO), which is raising funds to replenish capital, still faces a tough aftermarket, with a debut planned for July 15 in Shanghai, and a day la...