China Southern Airlines Ltd (NYSE: ZNH, SHA: 600029, HKG: 1055) said its passenger traffic totaled 7.61 million people and cargo traffic totaled 94,290 tons in August, up 0.4% and down 4.7% year on year respectively. In the first eight months of this year, its passenger traffic totaled 53.65 million people and cargo traffic totaled 720,460 tons, up 5.2% and 2.8% year on year respectively.
China Life Insurance Co (NYSE: LFC, SHA: 601628, HKG: 2628), the nation's biggest insurer by market value, said its premium income added up to ¥237 billion this year through August, up 4.1% from the same period a year ago.
China Mobile Ltd (NYSE: CHL, HKG: 0941), the world's biggest wireless carrier by subscribers, and Clearwire Corporation (NASDAQ: CLWR), a leading US provider of 4G wireless broadband services, announced a collaboration to accelerate the development of TD-LTE devices. Specifically, the two companies agreed to work together to develop a robust device ecosystem that supports multi-mode, multi-band devices with minimum component complexity and cost.
Fosun International Ltd (HKG: 0656), a Shanghai-based conglomerate, and Pramerica Financial Inc (NYSE: PRU), the US's second largest life insurer by assets, founded a 50:50 joint venture in Shanghai. Pramerica Fosun Life Insurance Co will have ¥500 million in registered capital. Fosun International became China's first privately-owed firm to develop a tie-up with a foreign insurer.
Ping An Insurance Group Co of China (SHA: 601318, HKG: 2318), the nation's second biggest insurer, said its premium income added up to ¥143.8 billion this year through August, including ¥86.17 billion from life insurance and ¥53.91 billion from property insurance.
Air China Ltd (SHA: 601111, HKG: 0753) said its passenger traffic totaled 4.6 million people and cargo traffic totaled 92,334 tons in August, up 3.5% and down 1.6% year on year respectively. In the first eight months of this year, its passenger traffic totaled 32.77 million people and cargo traffic totaled 753,921 tons, up 6% and 3.3% year on year respectively.
Temasek Holdings Pte and Kuwait Investment Authority are among early investors who agreed to buy $900 million worth of stock in Citic Securities Co’s (SHA: 600030) initial share sale in Hong Kong, Bloomberg reported, citing two people with knowledge of the matter. The Singaporean state-owned investment firm will invest $150 million in the offering, while the Kuwaiti sovereign wealth fund is putting in $200 million, said sources who declined to be identified as the process is confidential.
Beiqi Foton Motor Co (SHA: 600166), a leading Chinese truck manufacturer, said it plans to raise ¥5 billion in a private placement to its shareholders to revamp its assembly lines and fund an engine project with Cummins Inc (NYSE: CMI).
$1 = ¥6.39