IN BRIEF (Page 9)

China Daily | Updated: 2010-10-30 07:18

CMB Q3 profit rises to $1.1b

China Merchants Bank Co (CMB), the nation's sixth-largest lender, said profit rose 53.3 percent in the third quarter on rising income from loans and fee-based services, such as credit cards.

Net income climbed to 7.38 billion yuan ($1.1 billion) from 4.82 billion yuan, a year earlier.

New SMS Meer site launched

SMS Meer, a leading German firm specializing in tubing, forging and stamping facilities manufacturing, announced the launch of its new production site in Shanghai on Thursday.

The new facility, with an investment of 200 million yuan ($29.96 million), will provide both production and equipment installation services to Chinese customers.

China estimated as No 1 PC buyer

Acer Inc, the world's second-largest computer maker by market share, estimated that China has overtaken the United States as the world's largest buyer of computers by shipment, as the US market slows, according to Chief Executive Officer Gianfranco Lanci.

Bloomberg News - China Daily

(China Daily 10/30/2010 page9)