介绍:
Doug Young on corporate news of the week
Anchor:
It's been another busy week on the corporate front here in China.
Lenovo and IBM are said to be seeking an extension to the US review of IBM's 2.3 billion dollar sale of its server business to Lenovo, and Dutch Pension Fund APG appears to be doing some "shopping" in China.
For more on these stories, The Beijing Hour's Shane Bigham spoke earlier with Doug Young, associate professor at Fudan University and former China company news chief at Reuters.
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Doug Young, associate professor at Fudan University and former China company news chief at Reuters, speaking with the Beijing Hour's Shane Bigham.
Banks' exposure to real estate healthy: official
A senior official with China's top banking watchdog has said Chinese banks' loan to the real estate sector is stable.
The vice chairman of the China Banking Regulatory Commission says the real estate market now draws 20 percent of total bank lending in China, of which around 70 percent goes to home buyers in mortgage loans.
Of these mortgage loans, the bad loan ratio is less than one percent.
The vice chairman's comment came amid concerns that a cooling property market may lead to an increasing risk of bad loans.
China extends anti-dumping duties on acetone imports
The Ministry of Commerce has announced that the Chinese mainland will continue to impose anti-dumping duties on acetone imports from Japan, Singapore, the Republic of Korea and Taiwan for another five years.
The ministry says the decision was made after a year-long review of previous anti-dumping measures at the request of domestic acetone producers.
The five-year duties were first launched on June 9, 2008 and expired last year.
Acetone is a chemical material primarily used as an organic solvent in the medical and paint industries.
Yunfeng to invest in dairy maker Yili
Private equity firm Yunfeng Capital have agreed to invest at least 2 billion yuan, around 320 million US dollars, in Chinese dairy giant Yili group.
Yunfeng Capital was co-founded by Alibaba founder Jack Ma and CITIC Private Equity.
The deal will see Yunfeng and CITIC buying 60 percent of Inner Mongolia Yili 's livestock development subsidiary.
The investment is Yunfeng's first in China's food sector.
Its past investments have been focused on technology, media and telecommunications.
Inner Mongolia Yili is one of China's biggest milk powder makers.
The company's name was tainted along with other big dairy companies by a safety scandal back in 2008.
Chinese business tycoon becomes owner of Edificio Espana building
Chinese business tycoon Wang Jianlin has bought a landmark building in Spain for some 360 million dollars.
Wang, the owner of Chinese real estate giant Wanda Group, is now owner of the the emblematic "Edificio Espana" building in Madrid.
The Edificio Espana, an example of Spanish architecture from the 1940s and 1950s, became the first skyscraper in Spain after its inauguration in 1953.
Wanda Group has quicked its steps in acquiring landmark properties in recent years.
Last year, Wanda bought the former Nine Elms site on the river Thames in London.
The company also bought Sunseeker, the UK's largest luxury yacht maker for some 320 million pounds.
Shenzhen becomes fourth national innovation zone
The State Council, China's cabinet has approved the southern Chinese city of Shenzhen as a national independent innovation demonstration zone.
Shenzhen, the city where Chinese tech giants Tencent and Huawei are based, will now become the country's fourth zone of this kind.
The other three are the Zhongguancun Science Park in Beijing, Donghu New Technology Development Zone in Wuhan, and Zhangjiang Hi-tech Zone in Shanghai.
Shenzhen will be the first such innovation zone to be built on a city-wide scale.
The new innovation zone will enjoy government support in taxation, research and development financing and other fields.
China remains Vietnam rice's largest importer
China remained Vietnam's largest rice importer in the first four months of this year, accounting for almost 42 percent of Vietnam's rice exports.
According to official figures from Vietnam's Agricultural Ministry, during the January-April period, China imported some 900,000 tons of Vietnamese rice, up 2.4 percent year on year.
Rice accounts for a large chunk of Vietnam's export revenues.
Last year, the country earned just under 3 billion US dollars from exporting some 6.7 million tons of rice.
