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.

Land deal hits record high --Oriental Morning Post

Driven by robust real estate prices, China State Construction, a real estate developer under China Construction (601668.SH), bought a vast vacant parcel of land in Shanghai's Yangpu District for a record 3.72 billion yuan (US$547 million). The company outbid many other real estate giants, making itself a "land king."

Sinochem Lowers offer for Nufarm –ce.cn

Sinochem, China's largest chemical firm, lowered its offer for Australian chemical farm group Nufarm by 7.7 percent, from US$2.5 billion to US$2.3 billion, amidst concerns that Nufarm is in financial trouble after losing profits this year.

Nufarm made an initial offer in September at A$13 a share, aiming to gain a wider presence with Nufarm's global distribution network.

Experts say the revision will possibly cause the deal to fall apart.

E-commerce creates GDP and jobs--China News Agency

Medium- and small-sized companies accounted for 1.5 percent of GDP by doing business online, according to the latest report by Alibaba, a leading Chinese Internet company, and the Ministry of Industry and Information Technology. It helped to lift GDP growth by 0.13 percent this year.

E-commerce by medium- and-small-sized business produced 199 billion yuan in transaction volume in 2009, a 20.3 percent increase over last year.

The report also found that online entrepreneurs are engines of job creation. Medium- and small-companies created 1.3 million new jobs by doing business online in 2009, the equivalent of 11.7 percent of new jobs in urban areas in 2008.

Foton to build a $441 million plant in Miyun—China Securities Journal

Foton, a leading commercial vehicle manufacturer in China, plans to build a multi-purpose car plant in Beijing's Miyun District with an intended annual capacity of 200,000 vehicles. The project will cost more than US$441 million.

Over the next two years, Foton will build more plants to achieve an annual output of 1 million vehicles and 1 million engines as part of its strategy to increase its footprint globally.

Data reveal that sales in the first eleven months for Foton were 550,000, an increase of 41.2 percent over the same period last year. An estimated 50,000 vehicles will be sold in December.

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