The following press releases and news reports about China companies were carried on June 16. To view a full article or story, click on the link next to the headline.
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Bottom line: Ctrip’s new alliance with China Eastern continues its strategy of using equity tie-ups to further cement its position as China’s dominant provider of travel products and services.
Ctrip ties with China Eastern
In what looks like a first for private sector Chinese companies, leading online travel agent Ctrip (Nasdaq: CTRP) has just announced it will invest 3 billion yuan ($460 million) in China Eastern (HKEx: 670; Shanghai: 600115; NYSE: CEA) as part of a new strategic tie up with one of the nation’s top 3 airlines. The deal comes less than a year after US giant Delta Air Lines (NYSE: DAL) invested a similar amount in the Chinese carrier, and provides an important ally for Ctrip with one of its major suppliers.
This deal also comes as Ctrip’s former foe and new ally Qunar (Nasdaq: QUNR) remains locked in its own battle with China’s major airlines in a separate dispute tied to unruly third-party travel agents on its open platform. (previous post) Unlike Ctrip, which sells most of its plane tickets directly to travelers, Qunar’s open platform is home to hundreds of third-party travel agents who are harder to control and sometimes engage in deceptive practices when selling their products and services. As a result, many airlines have recently stopped allowing the sale of their tickets on Qunar’s website. Read Full Post…
The following press releases and media reports about Chinese companies were carried on January 6. To view a full article or story, click on the link next to the headline.
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Dalian Wanda Clinches Deal for Legendary Entertainment – Source (English article)
Faraday Unveils Concept Electric Race Car with LeTV (Shenzhen: 300104) (English article)
Commerce Ministry Asks More Questions in Microsoft (Nasdaq: MSFT) Anti-Trust Probe (Chinese article)
New Huawei Mate 8 Smartphone Sells More Than 1 Mln Units in Less Than a Month (Chinese article)
Air China, China Eastern Join Airlines Parting With Qunar (Nasdaq: QUNR) (Chinese article)
The following press releases and media reports about Chinese companies were carried on August 15-17. To view a full article or story, click on the link next to the headline.
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Soros Cuts Stakes in Internet Giants Alibaba (NYSE: BABA), Baidu (Nasdaq: BIDU) (English article)
he following press releases and media reports about Chinese companies were carried on July 28. To view a full article or story, click on the link next to the headline.
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China Minsheng Investment to Acquire Sirius Int’l Insurance for $2.2 Bln (English article)
The following press releases and media reports about Chinese companies were carried on March 25. To view a full article or story, click on the link next to the headline.
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Alibaba, Tencent, Ping AnInsurance JV Seeks $1 Bln Series A Funding (English article)
China Easter ups minimum age for new flight attendants
Most people probably haven’t felt too charitable towards China’s major airlines this past week, following numerous flight delays and cancellations at the end of the National Day holiday due to huge downpours during Typhoon Fitow. I’m personally not a big fan in either of Shanghai’s 2 biggest carriers, China Eastern (HKEx: 670; Shanghai: 600115; NYSE: CEA) and Spring Airlines, mostly due to past bad experiences with both. Read Full Post…
Much is being written about the flurry of H7N9 bird flu cases in and around Shanghai, but few of the stories are focusing on the impact the outbreak is having on businesses. Chicken farmers and sellers are taking an obvious hit, but restaurants with a heavy presence of chicken and pork on their menus and Shanghai-based event organizers and supporting industries like hotels and airlines are also likely to suffer in this current bird flu event. Read Full Post…
China Eastern’s (HKEx: 670; Shanghai: 600115; NYSE: CEA) announcement of a massive new order for Airbus (Paris: EAD) planes last week looked suspiciously political, coming just after China and the EU resolved an aviation-related dispute. If politics were indeed a factor, which seems likely, Beijing set another unhelpful precedent by tying what should have been a purely commercial decision to non-commercial factors. By continuing to act this way, Beijing will show the world that it calls the shots for what should otherwise be big commercial decisions by Chinese companies rather than leaving those decisions to market forces. That will only give China’s opponents further fuel in their steady accusations of unfair trade by Beijing.
The following press releases and media reports about Chinese companies were carried on November 24-26. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
China Eastern (HKEx: 670) Seals $5.4 Bln Deal To Buy 60 A320s (English article)
Xunlei to Spin Off Online Video Business for IPO – Source (English article)
The following press releases and media reports about Chinese companies were carried on June 20. To view a full article or story, click on the link next to the headline.
