Baidu's Partner-Shared Ad Revenue to Double Baidu Inc (Nasdaq: BIDU), China's dominant search engine, said itexpects the fees it shares with website partners to double to¥2 billion this year on burgeoning online ad sales. The 600,000website partners in the "Baidu Union" network have helped itattract users and advertising sales and overwhelmingly beatenGoogle Inc (Nasdaq: GOOG) in the country, Baidu added. Chalco Cuts Alumina Output, Prepares Unit IPO Aluminum Corporation of China Ltd (NYSE: ACH, SHA: 601600, HKG:2600), also known as Chalco, said it will cut alumina output by 1.7million tons this year as Indonesia raised taxes on bauxiteexports. Chalco said it will cut bauxite imports from Indonesia.Chalco did not reveal the proportion of 1.7 million tons as apercentage of its total alumina output. Separately, China AluminumInternational Engineering Corp, a subsidiary of Chalco, has beengiven regulatory approval for a Hong Kong IPO aimed at raising $200million. Renren to Spin Off Gaming Division Renren Inc (NYSE: RENN), the operator of a leading Chinese socialnetworking site, will likely spin off its gaming division forseparate operations in September, according to a person familiarwith the matter. After the reshuffle, the gaming division will gofor an independent listing, the source said, without offering moredetails. Nepstar Q1 Net Profit Falls 41% China Nepstar Chain Drugstore Ltd (NYSE: NPD), a leading retaildrugstore chain in China, posted ¥625.8 million in revenues and¥7 million in net profits for Q1 2012, up 1.3% and down 40.7%respectively from the same quarter a year ago. Rising labor andrental costs were blamed for the drop in earings. Fosun Stirs Up Dispute with Soho Over Shanghai Property Fosun International Ltd (HKG: 0656), a Shanghai-based conglomerate,said it filed a civil suit to protect its right to acquire a pieceof land in Shanghai's prestigious Bund against property developerSoho China Ltd (HKG: 0410), the Wall Street Journal reported. FosunInternational owns half of the prime real estate, but the otherhalf was sold last year to Soho by units of Fosun's formerpartners, Greentown China Holdings Ltd (HKG: 3900) and ShanghaiZendai Property Ltd. Fosun claims the land parcel should have beenoffered to it first. Shanghai Chengtou Offers ¥2.5b Bonds for Public Housing Shanghai Chengtou Holding Co (SHA: 600649), a property developerand water supplier, said it plans to issue ¥2.5 billion worthof corporate bonds to fund its public housing projects in suburbanShanghai. The company said it will place the bonds with designatedbuyers, without revealing their names. The bonds will have athree-year maturity. Minsheng Bank to Lend Small Firms ¥150b China Minsheng Banking Co (SHA: 600016, HKG: 1988), the nation'sfirst non-state lender, said it plans to issue ¥50 billionworth of financial bonds annually and use the money raised tosupport the growth of small business between 2012 and 2014. $1 = ¥6.34. The e-commerce company in China offers quality products such as China Stainless Steel H Beam , Stainless Steel Square Bar Manufacturer, and more. For more , please visit Stainless Steel Strips today!
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