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.
Satir Invests in Ireland
Shanghai-based infrared and thermal imaging camera maker Satir has set
up a 40-person logistics hub in Dundalk, Ireland. The Irish subsidiary
will be called SAT Europe, and control the company's product
distribution for Europe, the Middle East, and Africa. Satir develops
and produces infrared cameras for industrial and commercial usage.
Lenovo's Profits Double Thanks to Unit Sale
Lenovo Group said its profits for the first quarter of 2008 reached
USD140m, up from USD60m in the same 2007 period. The steep rise is
accredited to the sale of its mobile phone unit, for USD65m. While
Lenovo's Q1 sales in China reached USD1.29 bn, up 18 per cent from Q4
of 2007, revenue in the United States was lower than expected. The
company's total sales in Q1 were USD3.74bn.
China Trade Up With Hong Kong & Macau
China's trade volume with Hong Kong rose 9.3 per cent year on year
during the first four months of 2008, according to the Ministry of
Commerce. Total China-Hong Kong trade reached USD62.98 bn during this
period. During the same period, trade between China and Macau rose 2
per cent year on year, to USD630m.
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