Bluestar new partner

China National Bluestar (Group) Co Ltd and Japan's Toray Group signed an agreement on Sunday to set up a sewage treatment joint venture in Jiaozuo, Henan province.

According to the agreement, 70 percent of shares will be held by Bluestar and the rest owned by Toray.

Bluestar and Toray will invest 70 million yuan to build the plant.

After an initial construction phase, the facility will be able to treat 25,000 cubic meters of sewage per day. That number will double to 50,000 cu m in the future.

50m yuan deal for biz park

The Northwest China Advanced Business Park in Shenyang, Liaoning province, signed a purchase deal worth 50 million yuan with SIGMA Elevator Oct 20.

The central and western areas of the park will be 467 hectares with a construction area of 5 million sq m.

A total of 500 local enterprise headquarter buildings are to occupy the region, including SOEs. Construction began July 5 of this year.

Central SOE net profits up

China's centrally administered State-owned enterprises (SOEs) reported a 55-percent rise year-on-year in combined net profits in the first nine months, the SOE authority announced last Thursday.

Net profits of central SOEs totalled 641.65 billion yuan from January to September, the State-owned Assets Supervision and Administration Commission (SASAC) said in a statement.

China Mobile revenues climb

China Mobile announced its un-audited profit attributable to shareholders grew 3.9 percent year-on-year to 87.245 billion yuan for the first three quarters of 2010.

In a filing to Hong Kong Stock Exchanges, China Mobile said operating revenue during the period reached 352.643 billion yuan, up by 7.8 percent over the same period of last year.

CNSC merge approved

The China National Service Corporation for Chinese Personnel Working Abroad (CNSC), has merged with the China National Pharmaceutical Group Corporation (SINOPHARM).

The merger comes after approval by the State Council, and makes CNSC, a wholly-owned subsidiary of SINOPHARM.

With this merger, the number of centrally-administered SOEs under the SASAC was reduced to 122.

China Daily - Agencies

(China Daily 10/26/2010 page15)