China’s largest steelmaker Baosteel Group, which has signed a 10-year iron ore contract with Fortescue last year, may buy a stake in Australian iron ore miner Fortescue Metals Group Ltd to ensure stable raw materials supply.
“Baosteel will seek a stake in Fortescue when both sides reach an accord on a number of things, including common […]

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The Ministry of Industry and Information Technology said on Thursday that due to technological innovation, China’s software exports surged in the first four months of this year.
In the January-April period, exports totaled $3.27 billion, up 54.9% year-on-year. And the software sector’s revenue was 193.55 billion yuan, registering an increase of 31.2%.
In 2001, China’s software exports […]

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LG Electronics and China’s Haier Group Corp are among the potential buyers of the century-old appliances division of General Electronics.
According to Stephen Tusa, an analyst at JP Morgan Chase& Co, GE’s appliances business had 27% of the US market in 2006. And Credit Suisse Group estimates that the unit had revenue of $7.2 billion in […]

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China Construction Bank (CCB) announced on May 27th that the Bank of America is to exercise part of its call option to buy 6 billion Hong Kong-listed CBC shares from Huijin at about 2.42 Hong Kong dollars (about 31 U.S. cents) per share.
This will reduce Huijin’s CCB stake to 65.4% while boost Bank of America’s […]

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China has begun to figure as an alternative for the practice of shipping tech tasks offshore after India’s run of stunning good fortune.
One advantage is that China has a large labor supply pool like India and the other one is that if you’re dealing with customers or companies who have an Asian headquarters, there is […]

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