Business briefs from the Chinese media — Tuesday September 20
Business briefs from the Chinese media — Tuesday September 20
Chinese jets to be powered by used cooking oil: Yesterday, Sinopec 中国石化 announced that its bio-jet fuel (which uses waste catering oil as raw material) has been issued with an airworthiness certificate by the Civil Aviation Administration of China (CAA). Sinopec can now sell its bio-jet fuel to the aviation industry.
Arrests in the railway and shipbuilding industries: Shèng Guāngzǔ 盛光祖, the former General Manager of China Railway 中国铁路, has been arrested for corruption. In a sign that Beijing’s anti-corruption campaign has reached the ship leasing business, the managing director of CITIC Financial Leasing 中信金融租赁, Guō Fāngméng 郭芳萌, has also been arrested.
Another Chinese company lists in Zurich: Yesterday, Zhejiang HangKe Technology 浙江杭可科技, a producer of lithium batteries, announced that it plans to issue Global Depositary Receipts (GDRs) on the SIX Swiss Exchange, based in Zurich. In July, four Chinese companies listed in Zurich, raising a collective $1.5 billion, and so far this year, 18 Chinese companies have issued GDRs abroad.
