Guodian flotation a first for mainland power firms China Guodian (Group) Corp looks set to be the first of the mainland's national independent power producers (IPP) to go public after mandating investment banks to handle a planned flotation that aims to raise at least US$1 billion, according to sources. The company, set up last year by five national IPPs as a result of China's power reform, had hired Morgan Stanley and China International Capital Corp as global co-ordinators for the issue, they said. China merchants eyes listing of toll-road unit China Merchants Holdings International may float its toll-road operations outside Hong Kong through a back-door listing. The firm yesterday said that it was in talks with a company 'listed outside Hong Kong' about the disposal of its toll-road subsidiary. An A-share listing was an attractive option because the mainland market provided an environment that allowed companies to enjoy a high price-earnings ratio, it said. Passenger traffic soars for mainland carriers China Southern Airlines saw passenger traffic reach 7.07 million in the first five months, up 58 per cent from last year when Guangzhou was heavily affected by the Sars outbreak. Passenger traffic at Shanghai-based China Eastern Airlines soared almost 73 per cent year on year to 6.88 million. Japan takes bulk of yanzhou coal's exports Yanzhou Coal Mining has agreed to export 10.4 million tonnes of coal to its Japanese customers, or 86.7 per cent of its planned exports for the year. The average price was settled at US$51.93 a tonne, a 70.6 per cent rise from the previous year. The contractual price of semi-soft coking coal surged 75.4 per cent and that of thermal coal rose 65 per cent. Beijing and shanghai airports get busier Beijing Capital International Airport handled 12.9 million passengers in the first five months, up 54 per cent from last year. Cargo volume grew a comparative 16 per cent to 257,965 tonnes. Shanghai Pudong International Airport saw passenger traffic increase 62 per cent to 13.6 million in the first five months. It handled 826,000 tonnes of cargo, a 38 per cent rise. Great wall denies report A spokesman for pick-up truck maker Great Wall Automobile Holding denied a Jakarta Post report that the Hebei-based firm was planning to set up a joint-venture plant with Indonesia's state-owned heavy equipment maker Bharata in East Java.