IN BRIEF (Page 13)

Goldwind plans expansion

Xinjiang Goldwind Science Technology Co, China's second-biggest wind-turbine maker, said its board approved a plan to invest an additional $103 million in three units to expand production capacity.

The Urumqi-based company will spend HK$500 million ($64 million) on its wholly owned Goldwind New Energy (Hong Kong) Investment Co unit, which develops, builds and operates wind farms, according to filings to the Shenzhen Stock Exchange on Wednesday.

China Mobile profit up 5.4%

China Mobile Ltd, the world's biggest phone carrier by users, reported a 5.4 percent increase in first-quarter profit as sales were lifted by mobile Web users downloading music and games on smartphones.

Net income climbed to 26.9 billion yuan ($4.1 billion), from 25.5 billion yuan a year earlier, the carrier said in a statement to the Hong Kong Stock Exchange on Wednesday. Sales rose 8.3 percent to 118.2 billion yuan.

Chairman Wang Jianzhou expects the data business will be a significant source of future revenue growth and plans to boost capital spending 6.5 percent this year to bolster services.

Alibaba, Citic sign deal

Alibaba Group, parent of China's largest e-commerce company, signed a comprehensive strategic cooperation agreement with China Citic Bank on Wednesday. The bank will provide multilevel financial services for the group while Alibaba will help the bank further expand customer services.

The two companies have been cooperating since 2006 in areas including gateway payment, large credit card payments, online credit card payment and joint credit card business. The cooperation will be extended to fields such as retail banking, e-commerce, cash management, and small business finance.

Saba opens Beijing office

Saba Software Inc, a global personnel management solutions provider, announced on Wednesday the opening of Beijing office as its regional headquarters for Asia, in a bid to accelerate growth and better serve local customers in China.

"By the end of 2013, Saba's revenue in the Chinese market is expected to account for 5 to 7 percent of the company's total revenue," said Jeff Carr, president of Global Field Operations of Saba.

The company also plans to establish offices in Hong Kong, Shanghai and Chengdu in the near future, he said.

Taizhou gathers investors

The city government of Taizhou, Jiangsu province, held a meeting on Wednesday to introduce its favorable investment policies and projects to more than 300 investors from China, the United States, Germany, Japan and the Netherlands.

At the meeting, investments - including 18 domestic and overseas projects - totaling 2.5 billion yuan and $1.5 billion were signed.

China Daily-Bloomberg News

(China Daily 04/21/2011 page13)