Inspur Electronic Information Industry (000977.SZ) has established a 12 inch integrated circuit manufacturer with Shandong Hi-tech Investment Co and Jinan Hi-tech Holding Group, China Business News reported. The three founders each hold 33.33% of the initial US$43.79 million (RMB300 million) investment in Shandong Huaxin Semiconductor Co Ltd. The plant will ...

The National Development and Reform Commission has set a 2010 revenue target of US$87.58 billion (RMB600 billion) for Haidianyuan, a Chinese hi-tech incubator in Beijing’s Zhongguancun Science & Technology Garden, China Business News reported, citing commission vice director Zhang Mao. The NDRC also set a revenue target of RMB1 trillion by 2015, wh...

European aircraft maker Airbus said Wednesday that it will provide technical support to a US$145.92 million (RMB1 billion) joint venture repair and maintenance base in Chengdu, the capital of western China’s Sichuan province, China Business News reported. Sichuan Airlines will hold a 42% stake in the joint venture, Hong Kong Aircraft Engineering Co 40%...

Guangdong Haosheng Biotechnology Co Ltd launched a new operating center in Shanghai’s Zhangjiang Hi-tech Park Wednesday ahead of an initial public offering scheduled for next year, China Business News reported. The center comes after Haosheng won approval from the National Development and Reform Commission to establish a national level center to develo...

Guandong Midea Electronic Appliances Co (000527.SZ) has established an air conditioner manufacturing joint venture with Carrier Corp, the world’s largest maker of heating, ventilation and air-conditioning equipment and refrigeration systems, in southern China’s Guangdong province, China Business News reported. Carrier is a subsidiary of diversif...

Weichai Power Co (000338.SZ, 2338.HK), a manufacturer and distributor of diesel engines and automobile components, said Tuesday that it had paired up with automaker Beiqi Foton Motor Co (600166.SH) for product development and expansion, China Business News reported. According to the deal terms, Beiqi Foton’s heavy trucks (weighing over more than 14 ton...

Global Sources figures show 93% of the garment providers in the Greater China region will hike their prices this year due to rising labor and raw material costs, China Business News reported. Of the 93%, 21% plan to raise prices by less than 5%; 55% between 5% and 10%; 10% between 10% and 15%; and 15% by more than 15%. Many makers are also planning to move u...

Intohotel.com, a Hangzhou-based professional manager for corporate business trips, won a US$30 million venture capital investment from KPCB China and Zero2IPO Group after receiving a RMB6 million venture capital start-up investment from the local government last month, China Business News reported. The website is used by more than 5,000 firms, principally fo...

Juren.com (GA.NYSE), a Chinese online education provider, is aiming to acquire a 25% stake in 51.com, a social networking website, for US$51 million, chairman Shi Yuzhu told China Business News. It has hired China Renaissance to act as a financial consultant on the deal. Ma Yun, CEO of Alibaba.com, previously said his company wanted to take a stake in 51.com...

The 8.0-magnitude earthquake that struck western China’s Sichuan province on May 12 will cost China US$145.77 billion (RMB1 trillion) in direct economic losses, Huang Xiaoxiang, a senior provincial government official, told an ongoing meeting in the province attended by a senior US business delegation, China Business News reported. The delegation inclu...