Huawei plans Indian plant
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China's business press carried the following stories on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Huawei plans Indian plant—Oriental Morning Post
Following India's announcement that it will ban imports of Chinese telecommunication equipment, Huawei Technologies, China's leading equipment maker, said it will build a manufacturing plant in India.
Setting up a local manufacturing unit will help ease security concerns, an Indian report said. Huawei will spend between US$300 million and US$500 million to build the plant and said it has already chosen a site near Chennai.
Huawei's Executive Vice President Xu Zhijun and President of the Asia Pacific Division Wang Shengli will meet Indian government officials to negotiate the issue Friday.
Huawei will reshuffle the management of its Indian subsidiary by adding more Indians to its board.
Huawei stressed that its products measure up to network safety and international standard and that the company will be committed to the Indian market.
Huaxia Bank to raise 20.8 billion yuan in share placement—National Business Daily
China's Huaxia Bank, a mid-sized lender, said on Thursday it plans to raise up to 20.8 billion yuan (US$3.05 billion) through a private share placement, the latest money-raising binge among banks to replenish their capital base.
After the share placement, state-owned steel maker Shougang would continue to be the biggest shareholder with 20.28. Deutsche Bank owns 19.99 percent of the bank. Regulators allow a maximum of 20 percent.
Alibaba announces alliance with UPS—21cbh.com
Alibaba.com announced Wednesday a strategic partnership with international package delivery giant UPS to offer services to AliExpress, a new online wholesale marketplace launched by Alibaba.com last month.
Through its alliance with UPS, AliExpress users are able to manage and track their UPS shipment from aliexpress.com directly.
"The alliance is crucial to the success of AliExpress, as one of our main goals is to make international trade for our buyers and sellers," said David Wei, CEO of Alibaba.com.
