November 16 – China's Ministry of Industry and Information Technology, Ministry of Commerce and National Development and Reform Commission are working on a plan to consolidate the nation's fragmented polycrystalline industry, according to a source from the Ministry of Industry and Information Technology.
November 16 – Jiuxian.com, a Chinese online liquor retailer, has completed its second round of fundraising, CEO Hao Hongfeng said, without disclosing the amount it brought in. The money it received from Sequoia Capital and Oriental Fortune Capital will be used to build logistical facilities across the nation. The site aims to post ¥500 million in revenues this year and a total of ¥10 billion within three years before going public in Hong Kong or New York, according to Hao. It raised $20 million in the first round of fundraising.
November 16 – GD Midea Holding Co (SHE: 000527), a leading Chinese air conditioner maker, said it won regulatory approval to purchase a 51% stake in Carrier Corp's air conditioner business in Brazil and Argentina. The two Latin American countries will become Midea's third and fourth offshore production bases after Vietnam and Egypt and will help it explore the local markets.
November 15 – Huawei Technologies Co, the world's second largest telecom device maker and China's largest privately-owned company by revenue, said it plans to spend $530 million buying 49% of its joint venture with Symantec Corp (NASDAQ: SYMC). The deal, expected to be finalized in Q1 2012, will give Huawei full control of the joint venture, which mostly offers security solutions to Chinese customers.
November 14 – Uzai.com, a Chinese online travel service provider, said it received $20 million in venture capital funding from Capital Today, which also invested $5 million in Uzai's first round of fundraising in July 2010. Uzai currently employs over 600 people.
November 11 – Shanghai Pharmaceuticals Holding Co (SHA: 601607, HKG: 2607), China's second biggest drug distributor, agreed to sell its remaining 9.69% stake in its subsidiary, Shanghai Xinhua United Pharmaceutical Co, to Zhejiang Kadi Pharmaceutical Co for ¥40.66 million. It sold 90.31% of Xinhua United to Zhejiang Kadi a year ago.
November 11 – Caterpillar Inc (NYSE: CAT), the world's biggest maker of earth-moving equipment, said it would spend $886 million taking over Era Mining Machinery Ltd (HKG: 8043), a Chinese manufacturer of underground coal-mining equipment, the Financial Times reported. Caterpillar hopes both to expand in China through Era Mining Machinery and to use Caterpillar's global presence to sell Era's products internationally, said Steve Wunning, Caterpillar group president responsibile for resource industries.
November 11 – Youngor Group Co (SHA: 600177), a Ningbo, Zhejiang province-based garment maker, said its subsidiary, Ningbo Qingchun Investment Co, paid ¥400.55 million for a 3.06% stake in Huaxin Cement Co (SHA: 600801) in a move to diversify its business.
November 10 – Ningbo Huaxiang Electronic Co (SHE: 002048) said it plans to spend $25.47 million purchasing Sellner GmbH and IPG Industrieplast GmbH, two of the world's leading, Germany-based suppliers of decoration components for luxury cars.
$1 = ¥6.35
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