News Digest: May 14-16, 2011

The following press releases and media reports about Chinese companies were carried on May 14-16. To view a full article or story, click on the link next to the headline.

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◙ Phoenix New Media (NYSE: FENG) up, China Zenix (NYSE: ZX) down in debut (English article)

◙ Alibaba Clarification on Alipay Status and Related Statements by Yahoo! (Nasdaq: YHOO): (Businesswire)

◙ Proposed Privatization of Little Sheep (HKEx: 968) at HK$6.50 per Scheme Share (Businesswire)

◙ Perfect World to Announce Q1 Financial Results on May 23 (PRNewswire)