IN BRIEF (Page 13)

Sept fiscal revenue rises

China's fiscal revenue in September rose 17.3 percent from a year earlier to 737.7 billion yuan ($115.7 billion) and fiscal expenditure rose 18.3 percent to 1 trillion yuan, according to a statement on the Ministry of Finance's website on Tuesday.

Fiscal revenue for the first nine months of this year rose 29.5 percent to 8.17 trillion yuan, the statement said.

Tudou and Leshi anounce JV

Tudou Holdings Ltd, China's second-largest online video site by market share, has entered into an agreement with smaller rival Leshi Internet Information & Technology (Beijing) Co Ltd to set up a joint venture (JV) through a Tudou affiliate, according to a statement on Tuesday.

The JV will be engaged in purchasing licensed movies and TV plays and relicensing them to provide licensed content for online video sites. The venture will be 51 percent owned by Leshi and 49 percent by Tudou, with a total investment of 1 million yuan.

Drug groups sign statement

The China Pharmaceutical Industry Research and Development Association and The Pharmaceutical Research and Manufacturers of America signed a joint statement on Tuesday in Beijing, aiming at strengthening intellectual property rights protection, improving public health and promoting innovation and development in the industry.

New container service in train

A new direct rail container service from Leipzig, Germany, to Shenyang in Northeast China will formally open in November, according to DB Schenker Rail Automotive GmbH, the rail specialist division of Deutsche Bahn AG.

With a transit time of 23 days for the journey of almost 11,000 kilometers, the direct trains will be more than twice as fast as the previous method of shipping and plus road transit to inland China.

International fair begins

A total of 1,081 overseas companies from 52 countries are participating in the 12th Western China International Fair, which kicked off in Chengdu in Sichuan province, on Tuesday.

The main industries showcased at the five-day event are high technology, electronic information, equipment manufacturing and agriculture.

Launched in 2000, the fair is co-sponsored by the National Development and Reform Commission, Ministry of Commerce and provincial governments.

New corporate campaign opens

A high-profile corporate campaign called the Virtuoso Chairman's Recognition Event has started in Beijing and Shanghai, aimed at underlining the appeal of China as a travel destination.

Virtuoso, Imperial Tours, Abercrombie & Kent Asia, and host hotels Raffles Beijing Hotel and The Ritz-Carlton in Shanghai are playing host to 128 executives from Virtuoso's top 67 travel agencies.

China Daily - Agencies

(China Daily 10/19/2011 page13)