CEO believes the company's business in China will someday exceed that in US
Among the 2,500 or so new Starbucks stores to be mushrooming all over China within the next five years, there is one particular outlet that the world's largest coffee brand is pinning hopes on to sell something more than coffee.
The initial public offering of Zhouheiya, a Hubei province-based fast food chain known for its spicy-braised duck neck and other ready-to-eat snacks, opened for subscription in Hong Kong on Tuesday, looking to raise up to HK$3.3 billion ($425.7 million).
Convergence Ventures just closed its first fund, raising $30 million from investors, including well-known Chinese entrepreneurs, to place bets on Indonesia's burgeoning technology sector.
Chinese stocks in Hong Kong gained the most since Oct 24 after two manufacturing readings jumped to two-year highs, boosting the outlook for the world's second-biggest economy.
Jiamei Dental Group, the biggest privately owned chain of dental clinics in China, said it plans to expand in smaller cities and rural areas, and increase its efforts in growing online medical services, because it is bullish on the significant growth potential of the Chinese oral care market.
Global household and consumer products giant Procter & Gamble Co said it is making a drive to introduce into the Chinese market more high-tech and premium hygiene products for Whisper, its female-care range, to speed up the brand's focus on more lucrative premium products.
China's largest coal producer saw profit jump 46 percent in the third quarter amid a price surge following the government's efforts to curb the oversupply.
The new Taiwan-Pingtan-Europe rail-sea transport route will slash cargo costs between China's Taiwan province and Europe, an official from Pingtan in Fujian province said.
China General Nuclear Power Corp, which bought embattled state fund 1Malaysia Development Bhd's power assets for $2.3 billion this year, is considering listing the business as early as 2017, people with knowledge of the matter said.
State-backed Shanghai Electric Power Co agreed to pay buyout firm Abraaj Group $1.77 billion for a controlling shareholding in Pakistani utility K-Electric, gaining access to 2.5 million customers in the south Asian country's most populous city.
Hong Kong's benchmark stock index fell, capping its worst monthly performance in eight months, as AIA Group Ltd tumbled amid concern Chinese curbs on the purchase of insurance products will hurt earnings and lower oil prices weighed on energy producers.
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Raymond Zhou
Op Rana
Berlin Fang
Zhu Yuan
Huang Xiangyang
Chen Weihua
