In this joint venture, Shanghai will pay 51 million Yuan for holding 51% of share and Hong Kong will take the rest of the shares which is 49%, the joint venture was named “Shanghai Hong Kong Airport Management Co. This stake structure would remain unchanged for 20 years from 2010.

Han Zheng, the mayor of the Shanghai municipal government, said Shanghai hoped the cooperation would allow the instruction of a sophisticated service and management experience at Hongqiao Airport, enabling it to develop into a highly competitive airport.

Tang Ying-Yen, chief secretary for Administration of the Hong Kong Special Administrative Region government, said it valued and supported the airport project of the two cities, and he believed both sides could benefit from the platform.

The Shanghai government proposed strengthening the economic ties between Shanghai and Hong Kong in 8 sectors including airport, logistics and the world Expo.

The statement also said Hongqiao Airport was building a new terminal that is scheduled to be completed next year, with that the Hongqiao Airport will be expand to 364,000sqm from 82,000sqm.

The airport aimed at 30 million passengers’ flies and 1 million tons of cargo a year by 2015. in 2008, the airport handled 22.9 million passengers and 415,700 metric tons of cargo.

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The plant is to be built in three stages and the total investment is estimated to reach $4.5 billion. In the joint venture, the aluminum producer Chalco will own a 40% stake to become the largest single shareholder. Syed Mokhtar Al-Bukhary-backed MMC will hold a 20% share while a consortium of local investors led by the Saudi Binladin Group will hold the remaining stake.

The smelter plant is to be located in the Middle East country’s Jizan Economic City (JEC), where electricity costs an average of $20 per megawatt-hour compared with $28 in the US and $40 in China for the same measure. The annual aluminum production capacity of the plant is expected to reach one million tons.

In addition, an associated 1,860mW power plant with an estimated $2 billion will also be built, in which Chalco will take a 20% stake to become the third largest shareholder.

As an agent for CIGNA &CMC’s insurance policies, CMB has earned 66.39 million yuan in service fees from the company during the first 11 months of last year.

This new step, aiming to improve the bank’s revenue structure and sharpen its competitive edge, must first be approved by the China Banking Regulatory Commission and the China Insurance Regulatory Commission.

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The new company has a registered capital of 19 billion yuan, with its largest shareholder being the State-owned Assets Supervision and Administration Commission of the State Council. Other shareholders with different stakes are the Shanghai State-owned Assets Supervision and Administration Commission, AVICⅠ, AVICⅡ, Baosteel, Aluminum Corp of China and Sinochem Corp.

By this move, China Commercial Aircraft Co Ltd aims to manufacture passenger jets with at least 150 seats, strengthening its competitive edge over Boeing and Airbus in the fast-growing aviation market. And its first aircraft are scheduled for takeoff by 2020.

Above all, the company will be to develop an operating structure and a research and development center which is to be based at the Shanghai branch of the First Aircraft Institute under the China Aviation Industry CorporationⅠ.

The institute currently employs 700 staff, who previously designed the 50 to 60-seat MA60 turboprop aircraft and the 70 to 90-seat ARJ21 regional jet. And such experience obtained in the development of these smaller aircraft will lay a solid foundation for the development of larger planes.

Last year, the company’s revenue grew 58.6% to 2.16 billion yuan and its net profit surged 340% to 968 million yuan, which was attributed to the rise in the number of the company’s paying members and their increased averaged online consumption.

Despite the current economic slowdown at the global scale, Alibaba.com expected to see dynamic growth this year. “I think we will maintain fast growth this year because people in difficulties tend to diversify their product sourcing and supply in order to reduce risks,” said Wei Zhe, CEO of Alibaba.com.

According to Alibaba.com, 72% of the company’s revenue came from online trade between China and foreign countries and only 28% from trade within China. Revenue from domestic trade is expected to rise as China’s internal demands grow. Meanwhile, the company also has plans to open a joint venture with Softbank in Japan this year and increase its business presence in Europe and India to seek greater international opportunities.

The two companies have submitted the technical and commercial feasibility study for the expansion of the steam cracker from 600,000 to around 750,000 tons of ethylene per year and the expansion of manufacturing facilities of other petrochemical products. The expansions are expected in phases starting this year and the cracker expansion is scheduled between 2009 and 2010.

“The completion of the feasibility study marks an important step in the cooperation between Sinopec and BASF… it is expected to make a significant contribution to meet the domestic market demand,” said Wang Tianpu, president of Sinopec Corp.

And for the German company, “the expansion strengthens BASF’s close partnership with Sinopec. It is another significant demonstration of the company’s commitment to China’s chemical market,” said Martin Brudermuller, member of the board of executive directors of BASF.

According the new plan, Citigroup would own the maximum allowable 33% stake in the joint venture, while Central China Securities will own the majority.

Citigroup is taking an active part in China’s commercial and retail banking sectors, where it has began to provide Yuan retail banking services and has a minority stake in Shanghai Pudong Development Bank and an actual management control of Guangdong Development Bank.

China’s passenger traffic is expected to grow fivefold and passenger aircraft will triple to around 4,000 on the mainland. Besides, freighter traffic is projected to grow six fold, creating a demand for 130 new freighters over the next 20 years, compared with 45 in 2007. Recognizing the upcoming boom for the aviation sector and trying to gain an edge over its competitors, Airbus has agreed to assemble its single-aisle model Airbus 320 in China and expects to use the joint venture to produce composite material parts for its Airbus A350 model in partnership with AVIC Ⅱ. It’s also trying to sell more of its super jumbo A 380 in China as it expects carriers to opt for much larger aircraft in the future for flights between mega cities.

“Our aim is to reach 50% (of the market share) in 2011,” said John Leahy, chief operating officer, customers of Airbus. “In the next 20 years, the greatest demand for passenger aircraft will come from China, second only to the US.”