ChinaRealNews

Hubei-based FiberHome Technologies, Japan's Fujikura set up joint venture in Wuhan

2009-03-31 Wuhan

Wuhan, Hubei province-based FiberHome Technologies recently signed a cooperative agreement with Japan's Fujikura to set up a joint venture in the city to produce photoelectric materials, in a move to build a leading optical fiber preform rod manufacturing base in China. According to the agreement, FiberHome Technologies will hold 40 percent of the joint venture which has an initial registered capital of US$60 million. The new venture is expected to have an annual capacity of 10 million core kilometers within the next one or two years.

China’s Baidu.com operating profit more than doubles last year

2009-03-04 Beijing

Baidu.com, China’s leading search engine, recently reported that its turnover increased 83 per cent in 2008, to RMB3.2 billion (approximately US$467.4 million). Operating profit more than doubled to RMB1.1 billion (approximately US$160.7 million). In the fourth quarter of last year, the company saw turnover jump 58 per cent and operating profit soar 73 per cent. In addition, Baidu.com anticipates an increase of 36-39 per cent in financial results in the first quarter of this year.

HK government approves US$696 million for Special Loan Guarantee Scheme and SME Loan Guarantee Scheme

2009-02-19 Hong Kong

The Hong Kong government previously launched the Special Loan Guarantee Scheme and the SME Loan Guarantee Scheme to help enterprises tide over their cashflow difficulties. According to So Kam Leung, the Under Secretary for Commerce and Economic Development, as of 16 February 2009, the government has received 3,032 applications for these two schemes and approved a total amount of HK$5.4 billion (approximately US$696 million). Of the 3,032 loan applications, 878 were for the SME Loan Guarantee Scheme.

Online shopping website to open in China for Japanese products

2009-02-03 Beiing

A new online shopping website for Japanese products will launch in China next month. The website will accept payment using China UnionPay credit cards. The website “Buy-J.com”, launched by Sumitomo Mitsui Card Company and China UnionPay, will sell gadgets, clothing and cosmetics from about 100 Japanese companies, aiming to generate US$44 million in sales in the first year.
 

Xi’an High-Tech Industries Development Zone put in place incentive policies for software outsourcing industry

2009-01-15 Xi'an
 
The Xi’an High-Tech Industries Development Zone put in place a slew of supporting policies for software outsourcing enterprises located in the zone at the end of 2008. Under the policies, the development zone will provide a fund of RMB 50 million, or approximately US$7.3 million, a year to finance the software outsourcing enterprises in profitability improvement and market expansion.

Anhui province’s technology contractual value up 22.8% during 2008

2009-01-14 Hefei
 
East China’s Anhui province registered 5,667 technology contracts during 2008 through a national online registration system, with a total contractual value of US$475.2 million, up 21.9 and 22.8 percent year-on-year, respectively. This marks that the value has surged for the fourth consecutive years. Most of the contracts involve technology services and development.
 

Shaanxi’s 13115 technology innovation program makes good progress

2009-01-13 Xi'an
 
To date, more than 320 projects in the 13115 technology innovation program of Shaanxi province have been implemented, with an accumulated investment of more than RMB 540 million (approx. US$78.8 million) by the provincial finance department. Some of the projects have been at the production phase. An energy-saving air-conditioner compressor project, as an example, has made 60,963 deliveries, creating sales of RMB 48.7 million, or approximately US$7.1 million.
 
 

EPS Company (Hong Kong) responds to complaints

2008-12-30 Hong Kong
 
As for complaints against the electronic payment system known as Easy Pay System (EPS), a spokesperson for EPS Company (Hong Kong) Limited said yesterday that the complaints were as a result of malfunction in individual banks’ systems. Several Hong Kong consumers making purchases with EPS during this year’s Christmas holiday period alleged that their money was deducted from their accounts without successful transactions. The Hong Kong Monetary Authority has required HSBC and Hang Seng Bank, two banks involved into the incidents, to submit reports on the incidents.  
 

China’s sizable Web-based advertising market provides great opportunities for Web-based advertising enterprises

2008-12-03 Beijing
 
With a sharp increase in netizens and the increasingly mature e-commerce model, the Chinese Web-based advertising market has exceeded RMB10 billion. A number of e-commerce enterprises are adopting a variety of strategies to grab a slice of the sizable market. According to a report by Nielsen, the Chinese Web-based advertising market will grow at a rate exceeding 50 per cent to RMB14 billion in 2008, providing enormous opportunities for Internet-based advertising enterprises.
 

Internet is playing increasingly important role in society

2008-11-26 Beijing
 
The 6th Asia-Pacific Symposium on Press and Scientific and Social Progress (APSP-6) was held in Beijing on 22 November. Zhou Guangzhao, Chairman of APSP-6, said during his opening speech that Internet has evolved from an information technology tool to a new important medium. New medium such as Internet and mobile medium are brining cross-industry integration.