World Business Briefing | Europe: Britain: Bigger Stake in Chinese Venture
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Tesco, the largest supermarket chain in Britain, said it had raised its stake in its Chinese joint venture with Ting Hsin to 90 percent, in a deal valued at Â£180 million ($351 million). Two years ago, Tesco took a 50 percent stake in the venture, Ting Cao, a wholly owned subsidiary of Ting Hsin, which operates the Hymall chain of 44 supermarkets. Ting Cao plans to opens its first store in Beijing early next year.
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Britain have aimed to better their performances in Olympics by enhancing cooperation with China, the host to the next Games. Craig Reedie, Chairman of the British Olympic Association
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A 30 percent stake in Hewlett-Packard&#39;s Chinese operations is up for sale to the highest bidder as the company&#39;s Chinese partner looks to sell its shares.In a filing (in Chinese) with the China Beijing Equity Exchange, state-owned China Electronics Import &amp; Export Co. (CEIEC) invited bids for its stake in China HP and set a minimum price of 967 million yuan ($133 million).CEIEC will accept bids until Feb. 2 from qualified Chinese companies. Offers from financial institutions or hedge funds will not be considered, it said.HP had little to say in response to CEIEC&#39;s offer, but reaffirmed the importance of China HP to its overall business.&quot;China is a critically important market to HP and continues to hold tremendous opportunities for our business. ... Whilst we do not comment on our financial or operational plans in the future, HP will ensure its business operations remain unaffected,&quot; wrote Joanne Tan, a company spokeswoman, in an e-mail.China HP was founded in 1985 as a joint venture between HP and CEIEC. Over the years, the joint venture has been successful and China HP is a major player in key local markets, such as PCs and servers.Joint ventures are a common way of doing business in China, with foreign companies tapping the experience and connections of a local partner.In the best situations, these partnerships can help the foreign company build and grow their business in China faster than would otherwise be possible.
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Business links between China and Wales are forged with the launch of two new international deals.
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THE HAGUE - The European Union and China on Wednesday pledged to boost bilateral ties at their annual summit here, with the European Union saying it would consider lifting its 15-year-old embargo on arms sales to China.
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Barclays raises its offer for the Dutch bank ABN Amro, after China and Singapore invest in the UK firm.
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The City of London is lobbying China's 200-billion-dollar foreign exchange investment agency to set up a branch in the leading international financial centre, state media said Friday.
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Faced with rising costs and a tangle of regulations, more and more British firms are moving their operations abroad, often to China and Eastern Europe.
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Share sale to fund 'world's biggest fab' expansion plan
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Beijing is pushing Chinese firms to establish a global presenceÂdespite the may risks that involves
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China has leapfrogged Ghana&#039;s traditional trading partners India and Britain to become the West African nation&#039;s biggest foreign investor, according to the latest official records.
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International Business Machines Corp. is selling a majority stake in its pioneering personal computer business to China&#39;s biggest computer maker, Lenovo Group Ltd.
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China will be the third largest advertising economy by 2011, beating the UK and Germany, according to a report published yesterday.
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Bank of China&#039;s shares made a strong debut Wednesday in Shanghai, surging 23 percent in the mainland&#039;s biggest initial public offering.
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Business & money: UK-based bank confirms Â£9bn from the governments of China and Singapore will help it finance an improved takeover offer for Dutch rival ABN Amro.
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The largest computer company in China, the Lenovo Group, has bought a majority stake in the PC-making business of the multinational IBM.
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British Prime Minister Gordon Brown brought a high-profile delegation of business leaders to China on Friday for a visit focused on expanding economic ties between the countries