IN BRIEF (Page 13)

China Daily | Updated: 2010-03-05 08:00

Air China plans acquisition

Air China Ltd intends to take over Shenzhen Airlines Co to add a hub in the south of the country.

"Shenzhen Air is very important in terms of building a strategic network," Chairman Kong Dong said on Thursday. Air China, which owns 25 percent of Shenzhen Air, has begun an audit of the smaller carrier's assets, which should be completed this year, he said.

China Daily, CYTS sign deal

China Daily and China CYTS Tours Holding Co Ltd signed a strategic partnership agreement on Wednesday, announcing that they will cooperate on Chinese tourism and culture promotion, business travel management and conference activities.

IBM to open Beijing lab

IBM is opening a $40 million Energy & Utilities Solutions Lab in Beijing. The lab, IBM's first worldwide, will develop technologies and other solutions for China's smart grid market.

IBM says it expects the new research center to generate $400 million in revenues over the next few years. "We want to get close to the marketplace so we can work day in and day out with our customers in China," said Matt Wang, vice-president of IBM China Development Labs.

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(China Daily 03/05/2010 page13)