ChinaDailyNews

Datang wind power unit raises $643m in Hong Kong IPO

Wind energy firm China Datang Corp Renewable Power raised US$643 million through its Hong Kong initial public offering, Bloomberg reported.

Zoomlion targets $2.12b Hong Kong listing

Changsha Zoomlion Heavy Industry Science and Technology Development (000157.SZ) plans to raise up to US$2.12 billion on the Hong Kong stock exchange.

Sina Launches Developer Fund for China’s Twitter by Sophie Beach

Sina, China’s biggest portal, has announced a two billion yuan (US$300 million) fund for developers to create applications for its hugely popular microblog service. From Reuters:

Empty Chairs On the Cover of Southern Metropolis Daily Interpreted as Nobel Tribute by Xiao Qiang

As has been reported, the term “empty chair” (空椅子) has become a banned word in Chinese cyberspace following Friday’s Nobel prize ceremony during which imprisoned Peace Prize laureate Liu Xiaobo was represented by his empty seat.

China’s Army of Graduates Is Struggling by Sophie Beach

The New York Times reports on China’s so-called Ant Tribes, or recent graduates who are struggling to get by:

Often the first from their families to finish even high school, ambitious graduates like Ms. Liu are part of an unprecedented wave of young people all around China who were supposed to move the country’s labor-dependent economy toward a white-collar future. In 1998, when Jiang Zemin, then the president, announced plans to bolster higher education, Chinese universities and colleges produced 830,000 graduates a year. Last May, that number was more than six million and rising.

BYD shares jump on plan to export to US

Shares of carmaker BYD spiked 2.4 per cent after the Wall Street Journal reported that the company will begin test marketing electric cars in the United States next year.

China fact of the day from Marginal Revolution by Tyler Cowen

“The money supply is too large,” said Andy Xie, an economist based in Shanghai who formerly worked at Morgan Stanley. “They increased the money supply to stimulate the economy. Now land prices have jumped 20 times in some places, 100 times in others. Inflation is broad-based. Go into a supermarket. Milk is more expensive in China than it is in the U.S.”

In Shanghai, where the average monthly wage is about $350, a gallon of milk now costs about $5.50.

The article is a good survey of some Johnny-come-lately China skeptics.

Only generalities in the article.The usual broad simplifications.

When Will China’s Internet Giants Open the Acquisition Wallet? (TCTV) by Sarah Lacy

The biggest difference between the Internet scenes in Silicon Valley and China this year? We’re all still asking when Facebook will go public, while Chinese companies are filing left and right. Part of this is an investor demand to get a chunk of that 400 million person strong and growing Chinese Internet market.