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PetroChina Invites Private Capital PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857), the nation'slargest oil and gas explorer, said it will open more than 100projects to the private sector as the Chinese government urgedprivate capital to invest in the energy industry. The projects willinvolve domestic and overseas exploitation, petrochemical refiningand distribution of refined oil. However, market watchers saylucrative or prospective projects will by no means be accessible toprivate investors. China Telecom to Buy CDMA Network from Parent China Telecom Corp (NYSE: CHA, HKG: 0728) said it plans to purchaseCDMA networks from its parent to cut costs renting them, withoutrevealing how much it is going to spend. The company also saidnon-voice services would represent half of its total revenue thisyear after it was authorized by Apple Inc (Nasdaq: APPL) to sellthe iPhone 4S in mainland China in March. 7 Days Plans 300 Openings in 2012 7 Days Group Holdings Ltd (NYSE: SVN), a Chinese budget hotelchain, said it plans to open 300 hotels this year, two-thirds ofwhich will be franchises. 7 Days said 60% of its existing hotelsare franchises as opening a franchise is less costly than adirectly-run location. 7 Days continued to post earnings in Q1 2012as opposed to loss-making rivals such as Home Inns & HotelsManagement Inc (Nasdaq: HMIN) and China Lodging Group Ltd (Nasdaq:HTHT), which favor the directly-run approach. Expenses Hurt Taomee Earnings Taomee Holdings Ltd (NYSE: TAOM), a children's entertainment andmedia company in China, posted $10.4 million in revenues and $1.6million in net profits for Q1 2012, down 15.9% and 82.2%respectively from the same period a year ago. Increases in adspending, research costs and employee perks were ascribed to theworse performance. Taomee's active users hit a record 42 million asof the end of March. Cash-Strapped Sany Said to Restart HK IPO Sany Heavy Industry Co (SHA: 600031), China's largest constructionequipment manufacturer, has restarted its Hong Kong IPO and lodgedits application with the city's stock exchange, people familiarwith matter said. It plans to raise $2 billion, well below the $3.3billion it sought in the original plan that was halted in Septemberdue to plummeting Asian stock markets. Sany posted ¥14.68billion in revenues and ¥2.8 billion in net profits for Q12012, up just 4.9% and 5.3% respectively year on year. $1 = ¥6.34. The e-commerce company in China offers quality products such as Masterbatch Black , Carbon Black Masterbatch, and more. For more , please visit Plastic Resins today!
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