Sinopec Sold 100m Tons of Refined Oil in 2011
Sinopec Group, Asia's largest oil refiner and the parent of Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386), said its sales volume of refined oil cracked the 100 million ton mark in 2011. Sinopec currently operates more than 30,000 gas stations across the country.

PetroChina Sets Up Self Insurer with Parent
PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857) said it signed an agreement with its parent, CNPC, to establish a self insurance company with ¥5 billion in registered capital. PetroChina will own 49% of the joint venture and its parent the remainder.

The9 Wins Exclusive Deal with Sony Ericsson
The9 Ltd (NYSE: NCTY), a Shanghai-based online game operator, said it signed a deal to be the sole Chinese operator of Sony Ericsson's PlayNow app store, where users of Sony Ericsson handsets can download ringtones and entertainment software.

China Telecom Makes Foray Into Western Europe
China Telecom Corp (NYSE: CHA, HKG: 0728), the smallest of the nation's top three wireless carriers, plans to expand into more European markets after starting its first overseas wireless service in the UK, Bloomberg reported, citing Ou Yan, managing director for China Telecom Europe. Its service aimed at local Chinese residents will begin in the UK by the end of March and expand to Germany and France if it is successful. There are two million Chinese living in Western Europe.

Shanghai Electric, Siemens Seal ¥16.5b Deal
Shanghai Electric Group Co (SHA: 601727, HKG: 2727) said it signed a deal with Siemens AG (NYSE: SI) involving two-way orders valued at a total of ¥16.5 billion from 2012 through 2014. Shanghai Electric will buy ¥10.7 billion worth of good from Siemens, and Siemens will buy ¥5.8 billion worth of goods from Shanghai Electric.

Vanke Revenue Rises 12% in 2011
China Vanke Co (SHE: 000002), the nation's biggest property developer, said it sold 10.75 million m2 in floor space valued at ¥121.54 billion in 2011, up 19.8% and 12.4% respectively from the year before.

Shanghai Electric, Siemens Seal ¥16.5b Deal
Shanghai Electric Group Co (SHA: 601727, HKG: 2727) said it signed a deal with Siemens AG (NYSE: SI) involving two-way orders valued at a total of ¥16.5 billion from 2012 through 2014. Shanghai Electric will buy ¥10.7 billion worth of good from Siemens, and Siemens will buy ¥5.8 billion worth of goods from Shanghai Electric.

Geely to Sell Cars Online in Italy
Geely Automobile Holdings Ltd (HKG: 0175), China's largest privately-owned carmaker, plans to enter the Italian market by selling cars online, Italian auto medium Motori Corriere reported.

CSR Expects Net Profit to Jump 50%
CSR Corp (SHA: 601766, HKG: 1766), one of China's top two railway equipment manufacturers, expected its net profit to jump 50% in 2011, up from ¥2.53 billion a year earlier, thanks to the nation's steady growth of rail projects.

Conch Cement to Build ¥800m Grinding Plant
Anhui Conch Cement Co (SHA: 600585, HKG: 0914), China's biggest cement producer by output, said it plans to invest ¥800 million building a grinding factory in Zhejiang province. The project is expected to generate ¥1.5 billion worth of products annually once operational.

TCL Forecasts Net Profit to Surge 230%
TCL Corp (SHE: 000100), a Chinese home appliance manufacturer, expected its net profit to surge 230% to ¥1.55 billion in 2011 on rising sales of appliances as well as multimedia and telecommunications products in the country during the past year.

$1 = ¥6.31

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