BAIC aims at takeover of Soueast
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China's business press carried the following stories on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
BAIC aims at takeover of Soueast --Oriental Morning Post
Not content with a newly reached deal with Swedish automaker Saab, China's fifth-largest automaker, Beijing Automotive Industry Corporation, is now eying Fujian Motor Industry Group.
BAIC has recently completed talks to buy Fujian Motor's 50-percent stake in a Daimler AG joint venture, as part of its plan to merge with Fujian Motor, which is based in south China.
BAIC now is focusing on negotiations to acquire a 30-percent stake in South East Motor (Soueast), which is owned by Fujian Motor. BAIC has raised the offer from 700 million yuan (US$102 million) to one billion yuan (US$147 million). Rival Guangzhou Automobile Industry Group (GAIG) is likely to withdraw from the bid.
Smart energy grid creates huge market--Shanghai Securities
State Grid Corporation of China, a major power grid operator, recently announced a smart grid plan. The three-part plan will provide a road map for a national smart grid construction.
Earlier, China has started building smart grid which will cost up to 100 billion yuan. An upgrade to a more extensive energy-smart web could cost a trillion yuan.
China's salt monopoly likely to end—Oriental Morning Post
Reform of China's salt industry by the National Development and Reform Commission and the Ministry of Industry and Information Technology is nearing completion. It will likely break China's long-time salt monopoly.
Chen Guowei, a supervisory board member of the State-Owned Assets Supervision and Administration Commission, said China's salt industry should abolish monopoly, which begets corruption and windfall.
"The reform is not technically complicated but faces great obstacles from China National Salt Industry Corporation, a state-owned company that owns a monopoly on salt production and sales," he said.
LCD panel makers faces overhaul--Shanghai Securities News
The National Development and Reform Commission and the Ministry of Industry and Information Technology will take measures to slow the very rapid growth of LCD panel projects that raise risk of overinvestment and overcapacity.
This year, panel manufacturers embarked on a capacity building binge spurred by China's booming LCD television market. BOE, China's largest panel maker, has a plant under construction in Beijing. LG Display is planning new plants in Guangzhou, and TCL launched new projects in November.
Domestic panel manufacturers that own patents will continue to be supported by government policy.
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