Business Roundup

Hutchison Whampoa posts 50% profit gain

Hutchison Whampoa Ltd posted a 50 percent gain in second-half profit as losses from high-speed phone services shrank and earnings from energy and ports increased.

Chinese consumers opting for local brands

Chinese consumers prefer local brands to foreign ones, with domestic products the top choice in 39 of 57 categories, or 68 percent, in a recent survey.

Biz scene

BIZ MOVES

Pacific Insurance drops below IPO price

Shanghai stock market ended lower yesterday as China Pacific Insurance became the first major share to fall substantially below its IPO price since a suspension of IPOs was lifted in mid-2006.

Business Roundup

Moves to boost micro insurance

China's insurance regulator is striving to develop a micro insurance market in rural areas, in a move to help farmers and low-income families better manage risks.

Biz scene

MARKET

Business Roundup

China Life invests $300m in Visa offering

China Life Insurance Co, the nation's largest insurer, said it invested $300 million in Visa Inc's initial public offering, and plans further investments in the US and Europe to diversify its portfolio.

Steelmaker branches out to cover all bases

While many Chinese entrepreneurs look to top foreign companies for guidance, Huang Tianwen couldn't find the right business on which to model his company.

Biz scene

MARKET