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Five Chinese companies will conduct initial public offerings in China’s stock exchanges, ending an IPO freeze that lasted over a year. The five companies: Neway Valve, Guangdong Xinbao Electrical Appliances Holdings, Truking Technology, Zhejiang Wolwo Bio-Pharmaceutical and Guangdong QTone Education have issued prospectus that are published on the Shanghai and Shenzhen Stock Exchanges’ websites. Neway
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Hong Kong-listed China Everbright International Limited says that it has signed an agreement with the Zhuhai Municipal Government to cooperate on environmental protection industry parks, energy conservation and alternative energy, according to a company announcement. Everbright International plans to invest RMB3 billion ($500 million) in Zhuhai city by 2015. The Zhuhai Government is to provide
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The total debt obligations of China’s central and local governments reached RMB30.1 trillion ($5 trillion) as of the end of June 2013, according to the latest data released by China’s National Audit Office. As of the end of 2012, the ratio of the outstanding debt of the Chinese government to GDP is 36.74%. The central
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An American smoking tobacco paraphernalia company is ironically claiming Chinese counterfeits of its products can lead to safety issues. The company Ploom creates a brand of smoking vaporizers called Pax. Pax vaporizers gently heat tobacco, releasing full flavor and nicotine from tobacco with no smoke or secondhand smoke. The company claims certain counterfeit Pax contain
Campbell Soup Company is hoping a new executive will help grow its China business. The company announced the appointment of James Wong to the role of president of Greater China and Far East. In this role, Wong will oversee the company’s business in Greater China, the Campbell-Swire joint venture and Campbell’s operations in the Far
Since it’s illegal for Amazon.com to run its own cloud computing services in China, the company has partnered with Chinese companies to comply with legal and regulatory requirements. Amazon Web Services Inc. is partnering with multiple local Chinese providers, including ChinaNetCenter and Sinnet, who will provide the necessary Internet data center and Internet service provider
McDonald’s has opened its first campus restaurant in mainland China at Wuhan’s Huazhong University of Science and Technology, and it welcomed over 1,000 students and teachers on its first business day. This new McDonald’s restaurant beckons students as it faces the Yuyuan Cafeteria at the Huazhong University of Science and Technology. With two floors and
U.S.-based Rootstock Software is working with China-based Pactera to expand Rootstock’s cloud manufacturing and supply chain applications. Pactera has historically been providing implementations of SAP and Oracle On-Premise ERP systems. Pactera staff will now be trained on Rootstock’s manufacturing Cloud ERP system to provide easy, fast and affordable implementations. Financial terms of the deal between
Beijing-based crowdfunding platform DemoHour has raised several million U.S. dollars in series A funding from Matrix Partners China and Intel Capital, according to Chinese media reports. DemoHour previously received half a million U.S. dollar in seed funding in 2011. Founded in 2011, DemoHour provides crowdfunding and presale services for hardware and art projects. Visit ChinaMoneyNetwork.com
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Singapore video service provider Viki has formed a partnership with Chinese search engine Baidu. Headquartered in Singapore, Viki hails itself as the “Hulu outside America”. In September 2013, the company was acquired by the Japanese e-commerce giant Rakuten for USD200 million. Viki is mainly engaged in providing high-quality movies and TV programs. With the help
