IN BRIEF (Page 18)

Train merger to use market principles

The merger of the nation's top train producers, China CNR Corp Ltd and CSR Corp Ltd, should be conducted according to market principles, a government report said. On April 1, the State Council discussed progress toward the merger, which would create a train giant able to compete globally with international companies such as Siemens and Bombardier. There have been no details on when the merger might occur.

Top entrepreneurs look to boost sustainability

A group of China's top entrepreneurs will meet in about two weeks to discuss ways to make businesses greener.

The China Entrepreneur Club, comprised of 46 leaders of top private companies in the country, will hold its 8th China Green Companies Summit, an annual economic business forum on sustainable business development, in Shenyang, capital of Northeast China's Liaoning province from April 20 to 22.

This year's summit, focusing on building up new business value, will cover topics such as the Internet, investment, real estate, agriculture, new energy, manufacturing, globalization and Chinese companies' transformation.

"This year will have some innovations such as helping Chinese and foreign company leaders have better interaction, and there is a special event called the Model United Nations," said Cheng Hong, secretary-general of CEC, at a news conference at Tsinghua University in Beijing on April 1. "Some current hot topics such as Internet financing and environmental protection industries will be discussed at this year's summit, too."

Double-digit profit, growth for China Pacific

China Pacific Insurance (Group) Co Ltd, the country's third-largest health insurance provider, posted 11 billion yuan ($1.8 billion) in net profit in 2014, a 19.3-percent rise year-on-year. The Shanghai-listed insurance provider had revenue of 219.8 billion yuan and earnings per share of 1.22 yuan in 2014, up 13.8 percent and 19.3 percent year-on-year respectively, according to its annual report. The company, which has a joint venture with German insurance giant Allianz, delivered steady growth in both its life and asset management businesses.

Construction starts on Shanghai aquatic park

Construction has started on an ocean theme park in Shanghai's Pudong New Area, a 25-minute drive from the city's planned Disney Resort. Haichang Polar Ocean Park is expected to cost 3 billion yuan ($482.74 million), cover 190,000 square meters, include 12 venues, four marine animal interactive programs and three theaters. Wang Xuguang, president of developer Haichang Holdings, said the park near Dishui Lake, Shanghai's biggest artificial lake, will also feature various marine animal species and is expected to attract more than 6 million visitors every year.

High-tech facility in Fujian breaks ground

The groundbreaking for a facility that will produce wafers - a thin, round slice of semiconductor material used to make microchips - was held on March 26 in the Torch High and New Technology Industrial Development Zone in Xiamen, Fujian province. The project is a joint venture established by United Microelectronics Corp, the second-largest contract chipmaker in Taiwan, the Xiamen government and Fujian Electronics & Information Group. The plant, which will cost about $6.2 billion, is scheduled to start production by the end of 2016. It will use nanometer technologies to produce 50,000 wafers a month.

China Daily-Agencies

(China Daily European Weekly 04/03/2015 page18)