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Qingdao site fetches year's highest price
Authorities in Qingdao, Shandong province, have sold a land parcel for 872.4 million yuan (HK$1.08 billion) to Guangzhou Liangbao Property Investment and Consultancy, in an auction that set the highest premium of the year, the latest in a series of deals to signal a mild recovery in the mainland property market. Reuters
 
UMC bid for mainland firm gets approval
Taiwan's Investment Commission has given approval for microchip giant United Microelectronics Corp to buy a majority stake in the mainland's He Jian Technology. UMC seeks to acquire a further 51.85 per cent stake for US$157 million to add to the 35.74 per cent it bought last year. AFP
 
Sinohydro in US$400m Zimbabwe project
Zimbabwe's state power utility signed a US$400 million deal with China's Sinohydro to expand its Kariba hydroelectric plant by 300 megawatts in an effort to ease the country's electricity shortage. Export-Import Bank of China will finance up to 85 per cent of the project. Reuters
 
US to sell 500m shares back to GM at a loss
Nearly four years after what became a US$49.5 billion bailout of GM, the US Department of the Treasury says it will sell 200 million shares back to the company for US$5.5 billion, then sell an additional 300 million shares by early 2014. The exit could produce a loss of more than US$12 billion for US taxpayers. NYT
 
Trinity to pare stake in Ferragamo ventures
Hong Kong-listed luxury menswear distributor Trinity, which has 50-50 joint ventures with Salvatore Ferragamo to sell the Italian fashion house's products in South Korea, Malaysia, Singapore, Indonesia and Thailand, will sell a 30 per cent stake in the ventures to Ferragamo for US$25.55 million in cash. Eric Ng


Does Trump’s retreat on electric vehicle policy risk ceding ground to China?

Brazil scraps EV tariff break for Chinese carmaker BYD amid pressure from rivals

Top US trade official spells out plan to break China’s grip on critical minerals

Trump administration unveils US$12 billion push to curb China’s grip on critical minerals

General Motors

Briefs, December 21, 2012

Hong Kong-listed luxury menswear distributor Trinity will sell a 30 per cent stake in its joint ventures with Salvatore Ferragamo for US$25.55 million.

Business

China Business

Authorities in Qingdao, Shandong province, have sold a land parcel for 872.4 million yuan (HK$1.08 billion) to Guangzhou Liangbao Property Investment and Consultancy, in an auction that set the highest premium of the year, the latest in a series of deals to signal a mild recovery in the mainland property market.
