China Digital Media buys Arable stake for HK$20m Mainland cable-television services provider China Digital Media Corp has bought a minority stake in Arable Media, a Hong Kong-based vendor of software used in digital television broadcast set-top boxes. Nasdaq-listed China Digital Media, through its Hong Kong unit, China Digimedia Holdings, subscribed to 20,000 shares of Arable's common stock for HK$20 million. 'We believe Arable can assist us in developing customised applications for our digital TV subscribers,' said China Digital Media chairman and chief executive Daniel Ng. Arcotect (Guangzhou), a wholly owned subsidiary of China Digital Media, is the sole operator of digital television services in Nanhai, a city with 410,000 cable-television subscribers. Chief of Shanda mobile games unit resigns Wu Gang, chief executive of Shanda's mobile games subsidiary Digital Red, will resign soon for personal reasons, Chinese media reported, citing Shanda spokesman Zhu Gehui. Mr Wu's is the latest in a series of high-level resignations at Shanda since the company was overtaken by Netease as the top online game company in China. In May, Shanda chief financial officer Shujun Li left his post. Alibaba users reduce sourcing time by 75pc Enterprises using Alibaba.com, China's largest e-commerce portal operator, found that using the website cut by 75 per cent the time it took for them to find the right trading partner and negotiate a deal, according to a survey by US-based researcher Aberdeen Group. Alibaba members now take an average of three weeks to complete the process compared with an average sourcing cycle of 3.3 to 4.2 months before they used the Yahoo-backed e-commerce platform. The survey was conducted from June 19 to July 9 and included responses from more than 1,100 members of Huangzhou-based Alibaba. China Grentech clinches deal to supply Huawei Shenzhen-based China GrenTech, which creates wireless items and services to telecommunications operators and equipment manufacturers, has won a deal supplying base station radio frequency (RF) products to Huawei Technologies. Financial details were not given. Nasdaq-listed GrenTech said the deal with Huawei, the nation's largest telecommunications equipment vendor, was the fifth large-scale base station RF product supply contract it had secured from equipment makers. TFT-LCD capacity forecast to grow 35pc next year Mainland manufacturing capacity of thin-film transistor liquid-crystal displays (TFT-LCD), used in computer monitors and thin-panel televisions, is forecast to grow 35 per cent next year and 50 per cent in 2008, according to semiconductor equipment and materials trade group Semi. Investments in display production facilities, estimated to increase by between US$4 billion and US$5 billion annually in the next two years, will help China account for 20 per cent to 30 per cent of the world market for TFT-LCD manufacturing equipment. The mainland has two so-called fifth-generation TFT-LCD fabrication plants while a clutch of new plants are at various stages of development. China Cyber Port signs up Korea's 'Sudden attack' China Cyber Port, a leading mainland integrated online game developer and operator, has signed an agreement with South Korea game developer GameHi to operate the online multiple-player military game Sudden Attack exclusively in China. Chairman He Chenguang said the company would soon announce the purchase of a US game developer and would spend up to 500 million yuan over three years to develop another online game. ?