Shanghai Industrial Holdings Limited (SIHL) (0363.HK) said Tuesday it would progressively spin off its non-core businesses to free up capital for investment in its core industrial operations, the Oriental Morning Post reported. The announcement comes as the company posted US$175.74 million (RMB1.202 billion) in first-half net profit, up 28.9% on a year earli...

Blackstone Group (BX.NY) and VXL Capital (0727.HK) have jointly established a commercial real estate property management company to make a long-term commitment to the mainland market, the Shanghai Securities News reported. Blackstone will hold a 90% stake and VXL capital the remainder, according to a source. VXL Capital sold a 90% stake in the Changshou Comm...

China Construction Bank, the nation’s largest mortgage lender, has launched private banking services in Guangdong province, the Shanghai Securities News reported. Prospective customers must have a minimum of US$1.46 million (¥10 million) in financial assets to receive professional services in wealth management products, assets management, consultat...

Morgan Stanley is among a raft of foreign investors looking to cash in as domestic investors look to offload property holdings following the circulation of tough new central bank credit management policies for commercial property projects last week, Xinhua reported. The investment bank is reportedly ready to sink US$1.47 billion (¥10 billion) into the co...

The finance sector and Shanghai took the first spot in their respective compensation ranking categories for the first six months of 2008, China Business News reported, citing results of a survey by major Chinese recruitment website Zhaopin.com. The online survey included Shanghai, Nanjing, Hangzhou, Beijing, Guangzhou and Shenzhen. A bank teller was paid an ...

Zhejiang Transfar Co (SHE:002010), an industrial conglomerate specializing in chemicals, logistics, agriculture and investment, said it will spend US$219.46 million (RMB1.5 billion) establishing a logistics dispatch centre in Chengdu, the capital of western China's Sichuan province, the Shanghai Securities News reported. Covering more than 493,300 square...