Can Mercedes -Benz Out Smart Chinese Drivers?
Smart bets on an increasing number of consumers will be willing to pay for energy-saving and environmental protection. But for Chinese consumers, this environmental protection is very luxurious.
Foreign Strategic Investors Losing Welcome from SOEs
The government's strategy of taking advantage of foreign strategic investors to help promote reforms of SOEs, especially large state-owned commercial banks, is changing. Recently, China Telecom announced that it would postpone the introduction of strategic investors and refinance its debt instead. Just a week ago, the Agricultural Bank of China (ABC), the last of the big four state-owned banks to finish the share reform, stated again that it was not in negotiation with any potential overseas strategic investors.
Sohu to Float Its Online Game Business
Sohu has revealed that yesterday it submitted the first draft of an IPO prospectus for Float, its game business subsidiary, to the US Securities and Exchange Commission. The sudden move has caught almost everybody by surprise.Float's listing will make Sohu the only Chinese company on the US stock market with two listed sectors at the same time.
CNOOC Announces Profits, New Investment
According to analysts, the P/E ratios of Chinese oil companies have dropped to reasonable levels. With oil prices around $40 per barrel, the dynamic P/E ratios of PetroChina, Sinopec, and CNOOC stand at 6.3, 8.9, and 14.4, respectively, quite reasonable according to historical P/E and their expected future growth.
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