The Chinese government will facilitate the collaboration of large businesses and small and medium-sized enterprises through a matchmaking program, Xinhua reported Wednesday.
The "100 events for 10,000 enterprises" event will allow SMEs to integrate into larger innovation chains, the report said.
China will pool its resources from companies, research institutions, and financial organizations to build a platform for businesses to strike cooperation deals, according to the report.
Chinese companies will invest an additional 940 million euros into Serbia, beginning in July, Bloomberg reported Wednesday, citing President Aleksandar Vucic.Companies with investment agreements include Minth Group (HKG:0425), Shandong Linglong Tyre (SHA:601966), Changzhou Xingyu Automotive Lighting Systems (SHA:601799), Yusei Holdings (HKG:0096), Shanghai AgiBot Innovation Technology, Weichai Power (HKG:2338, SHE:000338), Zhejiang EV-Tech, Jiangsu Reliance Energy, and China Construction Fourth Engineering Division, the report said.The investments will go to auto parts production, humanoids, energy, and artificial intelligence projects, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Maanshan Iron & Steel (SHA:600808, HKG:0323), through subsidiary Magang (Group) Holding, agreed to acquire 1.04% of Baowu Group Environmental Resources Technology for a consideration of 114 million yuan, according to a Hong Kong bourse filing on Wednesday.The Chinese iron company's Hong Kong shares fell 3%, while Shanghai shares declined 2% at the close.Magang will contribute its 3.15% equity in Baowu Water Technology as consideration for Baowu Environment's stake. After the transaction, Magang will no longer hold any stake in Baowu Water.Meanwhile, Baowu Environment's registered capital will rise to 1.04 billion yuan from 711.6 million yuan. Magang is one of Baowu Environment's 13 new stakeholders.
Hua Xia Bank (SHA:600015) said Yang Hong resigned as chief compliance officer due to work-related reasons.Yang will remain with the bank as head of its Hong Kong branch, according to a Thursday filing with the Shanghai bourse.Shares of the bank closed 2% lower Thursday.