Yingli Green Energy Holding Co (NYSE: YGE), a leading Chinese integrated photovoltaic producer, will build a factory in the US state of Texas or Arizona, said chairman and CEO Miao Liansheng. The company also plans to spend $17 million sponsoring the World Cup in 2014.
Qihoo 360 Technology Co (Nasdaq: QIHU), a leading Chinese online security software developer, has paired up with German IT security software provider Avira to share antivirus technology and cooperate in research. Qihoo 360 president Qi Xiangdong said that on top of existing tie-ups with Avira and Romania-based antivirus developer BitDefender, Qihoo 360 would seek partnership with more overseas peers.
Royal Dutch Shell Plc (NYSE: RDS.A) said it will work with China National Petroleum Corp, the parent of PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857), to set up a 50:50 venture to drill onshore gas wells in China. China wants to triple its use of natural gas to 10% of energy consumption by 2020 as it cuts reliance on coal.
The China Development Bank said it had signed an agreement to offer a ¥60 billion credit line to China Southern Airlines Ltd (NYSE: ZNH, SHA: 600029, HKG: 1055) to support the nation's largest carrier's operating activities. Separately, China Southern Airlines ordered $250 million worth of V2500 engines from Rolls Royce Holdings Plc for its Airbus A320 aircraft.
China Mobile Ltd (NYSE: CHL, HKG: 0941) said it attracted 5.02 million new customers including 2.62 million 3G service users in May, increasing their total numbers to 611 million and 32 million respectively. China Unicom Ltd (NYSE: CHU, SHA: 600050, HKG: 0762) said it attracted 1.74 million new 3G service users and 834,000 new broadband users in May, taking their total numbers to 22.09 million and 51.26 million respectively.
Qinhuangdao Tianye Tolian Heavy Industry Co (SHE: 002459), said it plans to spend ¥40.4 million purchasing a 51% stake in Eden Technology, an Italian machinery maker. The company expects the deal to contribute up to ¥17 million to this year's profit.
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