siemens in turbine deal
German industrial conglomerate Siemens has signed a joint-venture agreement with Shanghai Electric Group to make turbines for gas-fired power plants. Siemens will have a controlling stake in the US$72 million venture.
cmhi units invest in fujian
Two subsidiaries of China Merchants Holdings (International) (CMHI) will spend 45 million yuan setting up a tugboat services firm in Zhangzhou, Fujian province. Zhangzhou is one of the three ports in Fujian approved for pilot projects involving direct trade with Taiwan.
life insurance premiums rise to 270b yuan in china
Mainland insurers collected 367 billion yuan in premiums in the first 10 months of the year, the China Insurance Regulatory Commission said. Life insurance premiums rose to 270 billion yuan in the period from 245 billion yuan at the end of September. The mainland's insurance companies had a combined 1.15 trillion yuan of assets at the end of last month.