Bosch Builds New R&D Centre
Germany's Bosch Group said it has started construction of a new R&D headquarters in Shanghai's Hongqiao Linkong Economic Park. The RMB1,3bn centre will be completed in 2010. Covering 80,000 sq m, the facility will be used for research, development, training and offices. In April, Bosch said it will double its investment in China to RMB8.5 bn by 2010.
Bank of Shanghai Net Profits Rise to RMB2.9 bn
The Bank of Shanghai's net profit increased 23.09 per cent last year,
to reach RMB2.934 bn under Chinese accounting standards. Operating
revenue rose almost 25 per cent to RMB7.664 bn. HSBC and International
Finance Corp. hold minority stakes of eight and seven per cent in the
Chinese bank.
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