Huawei Severs Smartphone Tie-Up with Qihoo 360
Huawei Technologies Co, China's largest telecommunications equipment maker, has ended the cooperation in smartphones with Qihoo 360 Technology Co (Nasdaq: QIHU), a leading Chinese security software developer, Huawei senior vice president Richard Yu said, adding that the company is not able to meet Qihoo 360 CEO Zhou Hongyi's demand for low prices.
NetEase Offers E-Commerce Search Service
NetEase.com (Nasdaq: NTES), a leading Chinese web portal and game operator, launched Huihui.cn, a self-developed e-commerce search engine that offers price comparisons, discounted deals and other recommendations. Merchants at Huihui's will pay a commission on revenues from sales referred by the website.
Huaneng Power's ¥2.9b Generator Project Cleared
Huaneng Power International Inc (NYSE: HNP, SHA: 600011, HKG: 0902), China's largest listed electricity producer, said Henan Huaneng Mianchi Power Plant, in which it owns a 51% stake, has been regulatory approval to spend ¥2.86 billion building two sets of 300MW coal-fired power generators.
Saic Aug Sales Rises 9.2%
Saic Motor Co (SHA: 600104), China's biggest carmaker by sales, said it sold 358,187 vehicles in August, up 9.2% from a year earlier. Between January and August its sales volume rose 11.9% to 2.91 million units. Saic has partnerships with General Motors Co (NYSE: GM) and Volkswagen AG.
$1 = ¥6.34