China Unicom expects an over 50% drop in profit
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China's business press carried the following stories on?Monday. China.org.cn has not checked the stories and does not vouch for their accuracy.
China Unicom expects an over 50% drop in profit—Tech.sina.com.cn
Chinese mobile carrier, China Unicom, said on Friday it forecasts an over 50 percent decrease in its 2009 net profit because a one-off disposal gain boosted its 2008 results significantly.
China Unicom sold its code division multiple access mobile operations to China Telecom in October 2008, which brought in 16.33 billion yuan (US$2.4 billion) in net profit for 2008.
China Unicom also said its 2009 profits were also affected partly by high costs and expenses for developing its new third-generation mobile business.
Some analysts said although the iPhone has given a boost to China Unicom's growth in the high- and middle-end users, its low-end users still lagging behind other two major mobile carriers has put a dent in its overall performance.
Minsheng Pharma forms JV with Sanofi-aventis--China News Agency
Minsheng Pharmaceutical Co., Ltd yesterday signed an agreement with Sanofi-aventis, the French pharmaceutical giant, to form a new consumer healthcare joint venture in which Sanofi-aventis will obtain a majority stake.
The planned sanofi-aventis-Minsheng joint venture will mainly focus on Vitamins and Mineral Supplements (VMS), where Minsheng has established a strong presence with its prize multivitamin brand 21 Super-Vita.
VMS is the largest category in the over-the-counter (OTC) drugs which is expected to grow at a double-digit rate over the following years in China.
Sanofi-aventis is among the earliest foreign pharmacies to enter China market, and has offices in more than 200 cities in China.
McDonald's lifts investment in China by one quarter–Guangzhou Daily
McDonald's, the world's largest hamburger chain, plans to open 150-175 new stores in China by increasing its investment in China by 25 percent.
McDonald's is also planning to roll out McCafe in China's major cities in order to gain a slice of Chinese coffee shop market in which Starbucks has already established a dominance.
