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Fidelity la mécanique des matelats Int'l raises stake in BYD

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Fidelity Int'l raises stake in BYDPublished: 05 Nov 2009 01:08:10 PST

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Nov. 5, 2009 (China Knowledge) - U.S.-based investment company Fidelity International Ltd on Oct. 30 raised its shareholding in China's BYD Co<1211> to 5.04% from the previous 4.98%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

Information from the HKEx showed that FIL bought 464,500 shares of Shenzhen-based BYD on Friday for a total of US$4.38 million. The average price of the share transaction was US$9.42 apiece.

On the same day, FIL's parent, FMR LLC, sold 1.78 million shares of BYD for US$17.57 million at US$9.86 apiece, cutting its stake to 5.96% from the 6.19% it held earlier.

Shares of BYD rose 2.03% to end at HK$73 yesterday.


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Stimulusplay equipment plan for bio-industry waiting for approval

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Stimulus plan for bio-industry waiting for approvalPublished: 23 Mar 2009 19:45:46 PST

Mar. 24, 2009 (China Knowledge) - The National Development and Reform Commission (NDRC) has submitted the proposed plan on boosting the bio-industry to the State Council, said Zhang Xiaoqiang, vice director-general of NDRC at a press conference.

Zhang said that the bio-industry, defined as strategic hi-tech industry in the country's eleventh five-year plan, is an emerging industry which plays an important role in the adjustment of the nation's economic structure.

In 2008, the bio-industry saw its output value surged 25.5% from a year earlier to RMB 860 billion, according to Zhang.

The bio-industry sector includes biomedicine, biochemical engineering, biological energy, biological agriculture and biological forestry.

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Traditiopaintball masknal Chinese Festival - Dragon Boat Festival

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Traditional Chinese Festival - Dragon Boat Festival Published: 01 Apr 2009 14:49:38 PST

The Dragon Boat Festival, the 5th day of the 5th lunar month, has had a history of more than 2,000 years. It is usually in June in the Gregorian calendar.

There are many legends about the evolution of the festival, the most popular of which is in commemoration of Qu Yuan (340-278 BC). Qu Yuan was minister of the State of Chu and one of China's earliest poets. In face of great pressure from the powerful Qin State, he advocated enriching the country and strengthening its military forces so as to fight against the Qin. However, he was opposed by aristocrats headed by Zi Lan, and later deposed and exiled by King Huai. In his exiled days, he still cared much for his country and people and composed immortal poems including Li Sao (The Lament), Tian Wen (Heavenly Questions) and Jiu Ge (Nine Songs), which had far-reaching influences. In 278 BC, he heard the news that Qin troops had finally conquered Chu's capital, so he finished his last piece Huai Sha (Embracing Sand) and plunged himself into the Miluo River, clasping his arms to a large stone. The day happened to be the 5th of the 5th month in the Chinese lunar calendar. After his death, the people of Chu crowded to the bank of the river to pay their respects to him. The fishermen sailed their boats up and down the river to look for his body. People threw into the water zongzi (pyramid-shaped glutinous rice dumplings wrapped in reed or bamboo leaves) and eggs to divert possible fish or shrimp from attacking his body. An old doctor poured a jug of reaglar wine (Chinese liquor seasoned with realgar) into the water, hoping to turn all aquatic beasts drunk. That's why people later followed the customs such as dragon boat racing, eating zongzi and drinking realgar wine on that day.

Dragon boat racing is an indispensable part of the festival, held all over the country. As the gun is fired, people will see racers in dragon-shaped canoes pulling the oars harmoniously and hurriedly, accompanied by rapid drums, speeding toward their destination. Folk tales say the game originates from the activities of seeking Qu Yuan's body, but experts, after painstaking and meticulous research, conclude that dragon boat racing is a semi-religious, semi-entertaining program from the Warring States Period (475-221 BC). In the following thousands of years, the game spread to Japan, Vietnam and Britain as well as China's Taiwan and Hong Kong. Now dragon boat racing has developed into an aquatic sports item which features both Chinese tradition and modern sporting spirit. In 1980, it was listed into the state sports competition programs and has since been held every year. The award is called "Qu Yuan Cup."

Zongzi is an essential food of the Dragon Boat Festival. It is said that people ate them in the Spring and Autumn Period (770-476 BC). In early times, it was only glutinous rice dumplings wrapped in reed or other plant leaves and tied with colored thread, but now the fillings are more diversified, including jujube and bean paste, fresh meat, and ham and egg yolk. If time permits, people will soak glutinous rice, wash reed leaves and wrap up zongzi themselves. Otherwise, they will go to shops to buy whatever stuff they want. The custom of eating zongzi is now popular in North and South Korea, Japan and Southeast Asian nations.

On Dragon Boat Festival, parents also need to dress their children up with a perfume pouch. They first sew little bags with colorful silk cloth, then fill the bags with perfumes or herbal medicines, and finally string them with silk threads. The perfume pouch will be hung around the neck or tied to the front of a garment as an ornament. They are said to be able to ward off evil.

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Cooperatsolar trackerion Across Civilizations

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Cooperation Across Civilizations Published: 25 May 2009 01:27:51 PST

CHINA-EUROPE AFFAIR: Chinese Premier Wen Jiabao (second right) poses with Czech President Vaclav Klaus (second left), European Commission President José Manuel Barroso (right) and Javier Solana (left), Secretary General of the Council of the European Union and High Representative for the Common Foreign and Security Policy, before the China-EU summit in Prague on May 20 HUANG JINGWEN

At their latest summit on May 20, Chinese Premier Wen Jiabao and European leaders reached new consensus on advancing bilateral relations, including sending another Chinese buying mission to Europe and holding the next summit in Beijing in the second half of this year.

Wen attended the 11th China-European Union (EU) summit in Prague, the capital of the Czech Republic, with Czech President Vaclav Klaus and European Commission President José Manuel Barroso. The Czech Republic now holds the rotating presidency of the EU.

The development of China-EU relations embodies the mutually beneficial cooperation between the biggest developing country and the biggest bloc of developed countries and the friendly exchanges between the two major ancient civilizations, Wen said, according to a news release from China's Foreign Ministry.

The China-EU summit, as a frank dialogue between countries with different social systems, benefits the Chinese and European people and the entire international community, he added.

In the face of the complex and volatile international political and economic situations, China and the EU should uphold their strategic partnership, focus on practical cooperation, keep up with the times, bolster confidence and make joint efforts to promote the all-round, in-depth and sustainable development of bilateral relations, he said.

China and the EU announced they would establish a comprehensive strategic partnership in 2003 after the sixth China-EU summit in Beijing. The EU is China's biggest trade partner, with two-way trade totaling $425.6 billion last year. The average annual growth of the EU's exports to China has exceeded 20 percent in the past five years, making China one of the EU's most important export markets.

Wen urged both sides to give full play to the role of the China-EU summit as well as other consultation mechanisms such as the high-level economic and trade dialogue. He also called for an early conclusion of the China-EU Partnership and Cooperation Agreement.

China and the EU began substantial negotiations on their Partnership and Cooperation Agreement in January 2007. The agreement will replace a 1985 trade and economic pact to serve as a new framework for China-EU relations.

The principles of mutual respect and non-interference in each other's internal affairs are of great importance to China-EU strategic cooperation, Wen said, adding that the two sides should take into consideration each other's core concerns and properly handle sensitive issues. Wen expressed the hope that the EU would recognize China's market economy status and lift its arms embargo against China as soon as possible.

Since they share common interests in coping with the international financial crisis, China and the EU should work together and contribute to the early recovery of the world economy, he said.

The two sides agreed to oppose trade and investment protectionism, increase mutual investment and enhance cooperation in the development of small and medium-sized enterprises, trade facilitation, science and technology, transportation and postal services. They also agreed to strengthen dialogue on macro-economic policy and finance and jointly promote the reform of the global financial system.

The Chinese side promised to send another buying mission to Europe soon. It also hoped the EU would relax its export restrictions on hi-tech products to 深圳搬家 上海翻译公司 lithium batteries 门禁 通风柜 沙尘试验箱 現金化 seo

Chinese Ac adaptercarmaker Geely eyeing $2 billion Volvo buyout deal

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Chinese carmaker Geely eyeing $2 billion Volvo buyout deal Published: 09 Sep 2009 16:02:01 PST

China's Geely Automotive said Wednesday that its parent company wants to bid for Ford's Volvo Car Corp, making the Chinese carmaker the latest to chase a foreign brand in a global industry overhaul.

A deal for Volvo, which analysts have valued at close to $2 billion, would boost the profile of Geely, a home-grown carmaker, and give it access to Volvo technology it needs to upgrade its cars.

But analysts doubt that China's 10th-largest vehicle maker could manage an international brand.

Geely's privately-held parent company, Geely Holding Group, would make any bid in conjunction with a government-backed investor, CEO Gui Shengyue told Reuters.

"I believe if Volvo is for sale and Ford has a global announcement, then our parent will participate," Gui said. "It is interested in Volvo's sedan business and not trucks."

Gui declined to put a value on a possible bid, but said Geely Holding was waiting for Ford to formally put Volvo up for sale.

Rather than taking a stake in Volvo, Geely Holding would seek full ownership, Gui said, adding that Ford will make a decision within a month on whether to sell Volvo.

"On the assumption that the parent company successfully acquires Volvo, it will fine-tune the product line and technology until Volvo becomes profitable, and then inject the assets into the listed company," said Vivien Chan, an auto analyst with Sinopac Securities Corp.

Geely has been upgrading its models to tap into China's growing affluent-driver market.

Beijing Automotive Industry Holding Corp (BAIC) and a mainly Swedish consortium including Dagens Industri and Konsortium Jakob AB have shown interest in Volvo, media reports have said, but Geely is the first confirmed bidder.

Some analysts questioned whether the privately-owned Chinese firm could manage an international brand.

"It's a risky move, even though it may help raise Geely's profile eventually," said Ji Junfeng from Changjiang Securities. "I'm not sure how Geely can turn around a brand like Volvo, but maybe we shouldn't underestimate the ability of privately-owned carmakers."

Reuters

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