Lenovo and ICBC Join Forces
PC maker Lenovo Group and China's major commercial lender ICBC have
formed a wide-ranging partnership agreement, state media reports.
Lenovo will work exclusively on ICBC's infrastructure developmentplans,
including computer and technological services. The bank, meanwhile,
will be Lenovo's main banking institution for "all-round financial
services", according to a joint statement. ICBC and Lenovo will also
cooperate in overseas markets.
Subscribers Pledge USD430bn for China Railway IPO
China Railway Construction is currently preparing for an anticipated
USD5.4 bn IPO on the Shanghai and Hong Kong stock markets, which state
media is speculating will be the world's biggest initial public
offering so far this year. The IPO - which will take place on 10 March
in Shanghai, and 13 March in Hong Kong - was oversubscribed to the tune
of USD430 bn (RMB3.08 trillion) from potential subscribers. The
state-run company announced that it plans to issue up to 2.45
billionA-shares for a Shanghai listing, down 12.5 per cent from the
originally planned 2.8 billion shares.
Gulf Air Launches China Flights
Bahrain's national carrier Gulf Air will introduce a four flights per
week service to/from Shanghai from 16 June. The route will be operated
by an Airbus A340-300, and will be upgraded to a daily service from
winter 2008. The service will feature Gulf Air's sky beds and Sky Nanny
service.
Hong Kong Exports to India Jump 140 Per Cent
New figures show that Hong Kong's exports increased almost 16 per cent
last year to HKD240.1 bn. The value for goods sent to India jumped 140
per cent, with large rises also for exports to Malaysia (38 per cent),
Indonesia (37.9 per cent) and Thailand (27 per cent). China imported
20.4 per cent more goods from Hong Kong compared to 2006. Hong Kong's
imports totalled HKD247.6 bn, resulting in a trade decifict of HKD 7.5
bn.
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