Apple Said to Use Baidu Search on iPhone in China Apple Inc (Nasdaq: APPL) plans to add Baidu Inc's (Nasdaq: BIDU)search engine on the iPhones in China, Bloomberg reported, citingtwo people with knowledge of the matter. A deal with Baidu, whichhandles 80% of China's Internet search queries, matches a plan byApple to gain a bigger toehold in the world's largest mobile phonemarket. Vimicro Partners with Fuzhou Govt Vimicro International Corporation (Nasdaq: VIMC), a ChinesePC-camera processor and IP-based surveillance solution provider,said it has signed a strategic framework agreement with thegovernment of Fuzhou, Fujian's provincial capital, to jointlydevelop, produce, and market surveillance video and audiocoding-based security products. Raymond Zhang, the company's chieftechnology officer, will head all business and development ofFuzhou Vimicro, the joint venture. Saic Sales Up 21% in May Saic Motor Co (SHA: 600104), China's biggest carmaker by output aswell as General Motor Co (NYSE: GM) and Volkswagen AG's Chinesepartner, said its sales rose 20.9% from a year earlier to 367,991vehicles in May, stoked by demand for its minivans. Between Januaryand May, it sold 1.88 million vehicles, up 11.3% from the sameperiod a year ago. Conch Cement Casts Shadow Over 1H Earnings Anhui Conch Cement Co (SHA: 600585, HKG: 0914), China's biggestcement producer by output, expected its net profit for 1H 2012 toplunge 50% due to lackluster demand and falling prices. ConchCement's net profit was ¥5.99 billion in 1H 2011 and slumped43.6% year on year to ¥1.25 billion in Q1 2012. Gemdale Property Sales Jump 70% in May Gemdale Corp (SHA: 600383), a Shenzhen-based property developer,said it sold 248,000m2 in floor space fetching ¥3.04 billion inMay, up 70.5% and 46.3% respectively from a year earlier. BetweenJanuary and May, it sold 842,000m2 valued at ¥9.9 billion, up55.9% and 30.9% year on year respectively. Silan Microelectronics to Raise ¥880m for Chengdu Project Hangzhou Silan Microelectronics Co (SHA: 600460) said it plans tosell additional shares with 10 designated investors raising¥880 million to fund a project in Chengdu. The cost of theproject is estimated to total ¥1 billion and to be recouped in5.46 to 7.82 years. $1 = ¥6.32. The e-commerce company in China offers quality products such as LED Lights For Bicycles Manufacturer , Led Torch Flashlight Manufacturer, and more. For more , please visit Industrial Flood Lighting today!
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