Minsheng profit up, finalizes private placement deal

China Minsheng Banking Corp said yesterday its net profit surged 43 percent last year to 3.83 billion yuan (US$495 million).

China Netcom looks to corporate clients

China Netcom may seem increasingly vulnerable when voice goes mobile and price wars are rampant in the telecom industry.

CITIC Securities Co said its profit rose almost six fold last year as stock trades boomed amid a soaring market.

Haier Group Co has partnered with Shanghai Interactive Television to tap the nation's booming high-definition TV market.

China Mobile, the world's largest cellphone company in terms of user numbers, may float shares on the mainland this year.

China's top refiner Sinopec plans to acquire filling stations and petroleum assets in Hong Kong to become a first-tier oil retailer there.

Yingkou Port, one of the country's top 10 coastal ports, is planning a total listing after three to five placements.

Citigroup Inc plans to increase its stake in Shanghai Pudong Development Bank Co later this year.

Shanghai-listed textile products firm Shanghai Dragon Corp denied local reports it was about to acquire an Italian company.

Neusoft Group Ltd yesterday said it will list the entire entity via share swap with its listing arm, Neusoft Co Ltd, before July.

China National Petroleum Corp (CNPC) and BP Plc are in talks of buying a stake in ethanol producer Guangxi Xintiande Energy Co.

Huaxia Bank Co Ltd said its net profit for 2006 rose 13.87 percent to 1.45 billion yuan, boosted by strong revenue growth.