Business Tianjin Magazine
Monday, 11 July 2011 15:06
Tianjin Port (600717) intends to inject 230 million yuan into Tianjin Port Finance, of which 168 million yuan will be injected to the new financial firm’s registered capital while the remainder will supplement its capital surplus, reports China Securities Journal, citing a company filing.
Tianjin Port estimated an investment payback period of 8.4 years, with a profit margin of 10.1 percent for the capital injection.
Tianjin Port Finance reported revenue of 41.94 million yuan and net profit of 27.79 million yuan in the first quarter of 2011. In 2010, the company posted revenue of 147 million and net profit of 81.56 million yuan.
Tianjin Port specializes in port handling services, commodities distribution, tugboat services, processing, cargo storage, freight forwarding and shipping brokerage services.
Monday, 25 July 2011 13:55
Taipei, The seventh round of top-level talks between Taiwan and mainland China will likely take place in China's northern metropolis of Tianjin in August, according to an official familiar with cross-Taiwan Strait affairs.
There have been no meetings between Chiang Pin-kung, chairman of Taiwan's intermediary Straits Exchange Foundation (SEF), and Chen Yunlin, president of the Beijing-based Association for Relations Across the Taiwan Straits (ARATS), since December, and now it is China's turn to host.
The talks have been tentatively scheduled for the second half of August.
Meetings between the SEF and ARATS heads have become part of institutionalized talks between Taiwan and China in the absence of official ties.
Liu Te-shun, deputy minister of the Mainland Affairs Council (MAC), confirmed Thursday that "August is highly possible" for the next Chiang-Chen rendezvous.
The MAC, the top planner of Taiwan's mainland policy, supervises the SEF's operations.
As to whether an investment protection agreement between the two sides will be forged during the seventh round of talks, Liu declined to elaborate, only saying that SEF and ARATS officials have met at least eight times over the past year on the matter, and they have intensified their opinion-exchanging recently.
The investment protection agreement, a deal that was expected to be clinched last December, fell through in part because of a lack of consensus over the deal's arbitration mechanism. Taiwan wanted the deal to stipulate that disputes would be settled by international arbiters, but China balked because it feared such a deal would tacitly acknowledge Taiwan's sovereignty.
On a cross-strait nuclear safety pact, another focus of the seventh Chiang-Chen meeting, Liu said the two sides have completed only one round of talks. Despite making some headway, the two sides need to further communicate on certain issues before concluding the pact, he added.
Follow-up issues relating to the Economic Cooperation Framework Agreement (ECFA) that the two sides signed in 2010, such as trade in goods and services and a dispute resolution mechanism, are also expected to be on the table. (By Chen Hung-chin and Deborah Kuo) enditem/ly .
Friday, 02 December 2011 13:25
Shares in Yahoo rose on reports that China's Alibaba Group was preparing a takeover bid with private equity firms Blackstone and Bain Capital.
Yahoo shares ended Thursday trading on the Nasdaq tech exchange 3.3% higher, having been 4.8% up at one point.
Unconfirmed reports said the consortium may pay up to $20 per share - well above Thursday's close of $16.23 - valuing Yahoo at $25bn (£16bn).
Alibaba, one of China's top internet firms, said it was weighing options.
"Alibaba Group has not made a decision to be part of a whole company bid for Yahoo," said John Spelich, spokesman of Alibaba Group.
Buying back stake?
Alibaba has had a long association with Yahoo, but relations have taken a turn for the worse in recent years.
The two companies came together after Yahoo bought a 43% stake in Alibaba in 2005 for $1bn.
However, things between the two have not worked out as planned, prompting Alibaba to try and buy back its stake.
The relations hit a turning point earlier this year after Alibaba spun off its online payment business, Alipay, effectively putting it out of the reach of Yahoo.
Yahoo accused the Chinese company of hiding the switch from it, saying the change had been made in August 2010, but it only found out about it in March this year.
Analysts said Alibaba's interest in bidding for Yahoo was being dictated in part by its efforts to get back full control of its own company.
"Alibaba definitely wants to get its stake back from Yahoo, so whatever can make that happen, they will try for it," said Dick Wei of JP Morgan in Hong Kong.
Yahoo has been struggling to keep hold of its market share amid growing competition from the likes of Google and Facebook.
Its failure to do so resulted in chief executive Carol Bartz being fired earlier this year, and the company launching a strategic review of its operations.
While Yahoo has seen its fortunes fall, Alibaba Group has been growing robustly, helped by a boom in the Chinese internet market.
With more than 500 million users, China is the world's biggest online market and it is is expanding at a rapid pace.
Alibaba has cashed in on the growth. The group's online shopping website Taobao is the largest in China and boasts 50 million unique visitors a day.
It has become the top destination for almost three-quarters of the country's online shoppers.
It hosts 30,000 online stores, and about 53,000 items are sold on the Taobao website every minute.
China Real Estate
Tuesday, 23 November 2010 16:16
(Reuters) - Some of China's top trust companies have halted property-related lending and investment following a regulatory order, four sources told Reuters on Monday.
Seeing risks in rapid credit expansion to real estate projects, the China Banking Regulatory Commission last week instructed trust firms to assess the risks posed by their portfolios in a fresh move to rein in the red-hot property market.
"The CBRC ordered a self-examination last Friday in a document, and our application to invest in a property project was turned down by our company on the same day. I don't know whether it's a regulatory requirement or a decision by the company," a source at Ping An Trust told Reuters on Monday.
Two sources close to Zhongrong International Trust cited a company document as saying that it had halted all new plans to invest in the property sector, except affordable housing -- a niche strongly supported by the government.
One of the sources added that China might order a complete halt to all property-related businesses by trust firms.
A source at China Credit Trust Co Ltd said that his company had adopted a more prudent approach following the CBRC's order but had not yet halted property business.
Funds from trust companies have been an important alternative channel for Chinese developers to raise capital as the country has tightened controls on bank lending.
Trust companies are hybrid institutions combining features of commercial bank lending, private equity and asset management. Until recently they had been loosely regulated and had expanded rapidly.
By repackaging loans into equity- or fixed-income-linked products, trusts have been able to offer bank clients, typically rich individuals, much more attractive yields than are available on certificates of deposit.
The CBRC in July ordered trust companies to halt the launch of wealth-management products via banks.
Property-related trust investment totalled 150 billion yuan ($22.6 billion) in the first 10 months of this year, compared with 40 billion yuan in the whole of 2009, according to Use Trust Studio, a private data provider.
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