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China Daily | Updated: 2009-12-01 08:02
Airlines' merger gets nod
China Eastern Airlines Corp yesterday won approval from China's securities regulator to take over Shanghai Airlines Co, clearing the final hurdle for a combination that will form the nation's second-biggest carrier. The government has backed the 10.4-billion yuan deal after bailing out both of the Shanghai-based carriers following losses. The new airline will control about 50 percent of air travel in China's financial hub.
CNOOC gas project
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