Following the merge of Gome and Paradise Electronic Retail, the domestic electrical appliance market would undergo structural changes, China Business Times reported.

China Paradise Elextronics Retail agrees to the takeover offered by Gome Electrical Appliances, the leading Mainland retailer of consumer electronic iteams an dhome appliances, The Standard reported.  

China plans compulsory commercial reserve system, alongside with government’s strategic oil reserve, to consolidate and optimize oil reserve structure, Beijing Morning Post reported.

IBM China has delivered the business processes and technology infrastructure behind China's first Liquefied Natural Gas (LNG) Gas Project, Guangdong Dapeng LNG (DPLNG), IBM said in a statement released today.

International Finance Corp (IFC), the World Bank's investment arm, plans to invest in China's securities industry as aggressively as it has in the banking industry, where it has spent almost US$600 million in seven years, XFN Asia reported, citing the South China Morning Post.

Experts say that property tax reform may not curb the overheating real estate market overnight, reports Shanghai Securities Journal. The market needs to be careful and expects that tax reforms do not lie with merely one tax item but the changes of overall tax revenues and structure.

UBS, Switzerland’s largest bank and Asian leading bank in private banking, is close to completing a deal with Beijing Securities, reports Swiss Info. The deal would allow UBS to have 20% stake of the brokerage firm as the first foreign institution to get hold of a Chinese investment company.

China faces “huge challenges” in implementing new tax reforms to cool down the overheating real estate sector, said Zhang Xiaopu, Director of the China Banking regulatoru Commission’s (CBRC) supervisory rules and regulatory department, XFN Asia reports.

Tianjin Mayor, Dai Xiang Long, stated that necessary reforms and 10 specials plans are drafted for the development of Binhai New District in Tianjin, writes Xinhua Net.

BNP Paribas wants to extend the influence of its Asia Private Banking Department into the fast-growing private banking market in China, FTchinese.com reports. It plans to have large-scale recruitment in Hong Kong and Shanghai to build up a team of customer services and product experts to develop the newly-launched Shanghai business.