February 23 – China's National Development and Reform Commission said it has given PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857) regulatory approval to purchase 40% of the MacKay River oil sands project from Canada's Athabasca Oil Sands Corp, which said in January that it was selling the stake to the Chinese oil maker for $680 million.
February 22 – Alibaba Group Holding Ltd plans to take its publicly traded Alibaba.com Ltd (HKG: 1688) private in a $2.3 billion deal to shore up the B2B platform, the Wall Street Journal reported. Alibaba Group, which currently owns 73% of Alibaba.com, is offering $1.74 a share for the stake, a 46% premium over its IPO price almost five years ago.
February 22 – Sinochem International Corp (SHA: 600500) said it plans to spend ¥1.63 billion increasing its stake in Jiangsu Yangnong Chemical Co (SHA: 600486) from 5% to 40.53%.
February 21 – Ctrip.com International Ltd (NASDAQ: CTRP), China's biggest online travel service provider, said it has paid $9 million for 10% of Hong Kong-based Wing On Travel, gaining full control of the company. Ctrip acquired the first 90% stake for $88 million two years ago.
February 16 – China Shenhua Energy Co (SHA: 601088, HKG: 1088), the nation's biggest coal producer, said it plans to pay ¥1.65 billion for a 51% stake in Sichuan province-based Bashu Electric Power Development Corp, which had 1,403MW of installed capacity as of the end of 2008.
February 16 – Meican.com, a Chinese online food ordering site, has obtained millions of yuan in venture funding from individual investor Xu Xiaoping, according to an industry source who said the funds had been transferred. Meican founder Zhao Xiao said it was not an appropriate time to reveal any details, while Xu declined to comment. Meican, established in 2011, had nearly 20,000 registered users as of the end of 2011 in Beijing, Guangzhou, Shenzhen and Tianjin, with the number of monthly orders exceeding one million.
$1 = ¥6.3
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