IN BRIEF (Page 13)

Pang Da halts its bid for Saab

Pang Da Automobile Trade Co said on Wednesday it would halt its attempt to acquire the Swedish carmaker Saab in light of Saab's bankruptcy.

Saab was declared bankrupt by a court on Monday.

"In view of Saab being declared bankrupt, Pang Da Automobile Trade has decided to stop the acquisition transaction of Saab," the Chinese company said in a statement to the Shanghai Stock Exchange.

Saab, which made cars for 64 years, has experienced cash problems since March after 2010 sales fell short of target.

Sany to build Poland plant

Sany Heavy Industry Co Ltd, China's leading heavy equipment manufacturer, will establish an assembly plant in Poland to serve markets in Eastern and Central Europe, Andrzej Juchniewicz, head of the China branch of the Polish Information and Foreign Investment Agency, said.

Investment will reach $40 million to $50 million and construction will start in 2012, Cui Yongqian, vice-president of Sany, said.

Extra store in Shenyang

Tesco PLC, the world's third-largest retailer, opened its first Extra store in China in Shenyang, capital of Liaoning province, on Wednesday.

Upgraded from an 11-year-old Tesco hypermarket, the store adds to the existing 99 hypermarkets, six lifespace shopping centers and 14 on-trial express stores that Tesco operates in China.

Anti-virus sales expand in Japan

The Chinese computer security provider Beijing Rising International Software Co Ltd estimated on Wednesday its revenues in Japan's personal anti-virus market will rise at least 20 percent in 2012.

Since Japan is Rising's biggest overseas market, "we predict our revenues in Japan could see a year-on-year increase of 20 to 30 percent in the next year", said Julia Zhang, vice-president of Rising.

Zhang forecast that domestic revenues could show year-on-year growth of about 20 percent as the company has pledged to release more products to the enterprise-level anti-virus market.

Bonds to finance loans to firms

China Minsheng Banking Corp said on Wednesday that China's central bank has approved its plan to issue up to 50 billion yuan ($7.9 billion) worth of special bonds, which will be used to give loans to small firms.

Chinese regulators are providing incentives to encourage Chinese lenders to make more loans to small businesses. Banks, for instance, are being allowed to sell bonds labeled as special financial bonds so they can make loans to small and medium-sized businesses.

Airport achieves traveler record

Shenyang Taoxian International Airport in Liaoning province said it had served 10 million passengers as of Wednesday since it opened in 1989, the first airport in northeastern China to have reached that volume.

China Daily - Agencies

(China Daily 12/22/2011 page13)