IN BRIEF (Page 14)

Trade

EU starts subsidy inquiry on solar panels

An investigation of Chinese manufacturers of photovoltaic solar panels has begun, the European Union says.

The action came a day after the US International Trade Commission determined that imports of Chinese photovoltaic cells and modules had hurt the US solar industry.

The EU investigation into whether the Chinese government gives subsidies to solar panel makers comes after a separate European inquiry looked into charges that Chinese companies were selling photovoltaic solar cells in Europe below cost, a practice known as dumping.

The anti-subsidies case involves 21 billion euros ($27 billion), making it the largest case of its type initiated by the European Commission, the EU's executive body.

Investment

PepsiCo opens research center in Shanghai

PepsiCo Inc, the world's second-largest soft-drink maker, has opened a research center in China, its largest outside the US, as it seeks to boost sales in the world's most populous country and the Asian region.

PepsiCo, based in Purchase, New York state, said the center will help tailor drink and snack-food brands to Asian taste buds and develop new products for China and the region.

The center in Shanghai is part of PepsiCo's 2010 plan to invest $2.5 billion (1.97 billion euros) in food and beverage businesses in China over three years and expand offerings, the company said.

Saudi Arabian Oil opens affiliate in Beijing

The Saudi Arabian Oil Co, the integrated global petroleum and chemicals enterprise, has announced the opening of Aramco Asia in Beijing, a move that shows the strategic importance of the Asian market to the company.

Aramco Asia, a wholly owned affiliate of Saudi Aramco, will serve as the business and cultural exchange hub between Saudi Aramco and China.

"Our new Asia office in Beijing will be a hub for facilitating our joint activities in general and investment opportunities arising from the capital projects in Saudi Arabia and Asia," said Abdulrahman F. Al-Wuhaib, senior vice-president of its downstream business.

Airbus to assemble new model in China

Airbus SAS says it expects to build its planned A320neo jet in China, as the plane-maker holds discussions on extending the life of its first assembly line outside Europe.

Laurence Barron, Airbus' China head, said the company is in talks with partners about operating the Tianjin factory until 2025. The factory makes the current A320 model.

"We can expect to see the Neo being assembled here in China in the near future," Barron said.

The aircraft is due to enter service in 2015. Airbus also builds A320s in France and Germany, and plans to open a factory in Alabama.

Nexen deal approval 'in sight'

The chairman of CNOOC Ltd, China's biggest off shore oil and gas producer, says it is confident its $15.1 billion takeover of the Canadian company Nexen Inc will be completed by the end of the year.

CNOOC announced its plan to buy Nexen in July, but the Canadian government has extended a review of the bid twice, triggering doubts about the deal's success.

But the CNOOC chairman, Wang Yilin said on Nov 9: "I am very confident that the deal will be approved next month because CNOOC's businesses and its management meet all the regulations."

A takeover of Nexen would add 200,000 barrels a day, or more than 70 million barrels a year, to CNOOC's output.

Technology

Companies merge to provide better service

Two Chinese outsourcing companies listed in the United States announced they are joining forces, a step that comes amid fierce competition and harsh market conditions.

HiSoft Technology International Ltd and VanceInfo Technologies Inc said they are forming Pactera Technology International Ltd to provide better service to their global customers.

The headquarters of HiSoft is in the coastal city of Dalian, one of China's main software outsourcing centers. VanceInfo's headquarters is in Beijing, and it has a branch in Dalian.

HiSoft focuses on exploring the IT outsourcing market of Japan and the US.

Xiu.com, eBay form online alliance

The US online seller eBay Inc and the Chinese online fashion and luxury retailer Xiu.com Inc have launched a new and fully localized online shopping business, eBay Style, in the Shenzhen special economic zone in Guangdong province.

The eBay Style website connects Chinese online customers to global products and brands now sold on eBay.com. Through the partnership, Chinese customers can access eBay's global selection, with Xiu.com responsible for handling all sales, logistics and customer service.

Lenovo leads most of world's top markets

Lenovo Group Ltd, the world's largest PC maker by shipments, now leads five of the world's top seven PC markets, after adding Russia and Germany to its list, the company said.

Reporting record quarterly sales of $8.7 billion, an 11 percent increase year-on-year, China's largest PC company also turned in a record pre-tax profit of $204 million in the three months to September.

Yang Yuanqing, Lenovo chairman and chief executive officer, said that next year the company will place a greater emphasis on making profits, "rather than grabbing more market share", and aim to lift its pre-tax profit margin by at least one percentage point in three years.

Apple to pay $80,250 in copyright row

Beijing's Second Intermediate People's Court has ruled in favor of the Encyclopedia of China Publishing House in a lawsuit against Apple Inc for infringement that claimed 500,000 yuan ($80,250; 63,100 euros) in compensation, Economic Information reported.

The court ruled the publishing house is the only legitimate copyright owner of China Encyclopedia, first edition.

The publishing house found in October 2010 that iTunes software, which can be downloaded from a website run by Apple Electronic Products Trade (Beijing) Co Ltd, allows users to buy and download a large part of the encyclopedia from the App Store for iPhones and iPads.

China Unicom hopes to sell iPhone 5 this year

China Unicom, the country's second-largest mobile carrier, expects to begin selling Apple Inc's latest iPhones this year and has set a target of having 100 million 3G users by the end of the year as it tries to attract high-end users to lift profits.

China Unicom (Hong Kong) Ltd was the first Chinese mobile operator to carry iPhones in 2009, but lost its exclusivity when China Telecom Corp Ltd signed a similar contract with Apple this year.

Helped by iPhones, the number of China Unicom 3G users has risen steadily, reaching 66.9 million in the first nine months, representing about 30 percent of total subscribers, the company says.

Economy

Growth stabilization on track: Barclays

Improved figures last month reinforced the view that China's growth stabilization is on track, Barclays said in a research note on Nov 12.

"We continue to expect a moderate recovery rather than a sharp near-term rebound," said Huang Yiping, an economist with Barclays.

Infrastructure investment has more than offset slowing manufacturing investment, and retail sales growth has continued to improve.

Reduced inflation in food prices was due to falling vegetable prices, Barclays said, but key items in non-food inflation have risen.

China Daily-Agencies

(China Daily 11/16/2012 page14)