China

GlaxoSmithKline to sell Lucozade in China

Drug multinational GlaxoSmithKline said it would sell, Lucozade, the energy drink, in the Chinese supermarkets, a move signifying drug-maker's effort to push itself into the emerging markets of the world.

GlaxoSmithKline has penned a deal with President Trading to distribute it through out China.

Lucozade was first invented by a Newcastle chemist in 1927 to provide ailing children a glucose boost.

Lucozade, which is mainly sold in Britain, Hong Kong and Ireland, generates around 400 million pounds in sales annually.

Ford to invest $490m in 3rd vehicle assembly plant in China

Ford Motor Co. said announced on Friday its plan to spend $490 million on building a third assembly plant in China in a move that will help the company in improving its performance in the world's strongest market.

The US automaker will run the new plant with its Chinese partner Chongqing Changan Automobile co. and Japan's Mazda Motor Corp.

Michigan-based Ford has already two plants in China, one in Chongqing and another in Nanjing.

Boeing: China To Account For 40% Of Asia Orders In Next 20 Yrs

Wednesday saw a senior Boeing executive informing that Boeing Co, the renowned aircraft maker, is expecting orders from Chinese airlines to account for nearly 40% of its forecast of 8,960 commercial jet orders from Asia over the next 20 years.

On the sidelines of the Asian Aerospace conference, Randy Tinseth, Boeing's vice president of marketing for its commercial aircraft division, expressed the hope that China's domestic passenger market would expand more rapidly than any other market, at 8.6% annually, between 2009 and 2028.

China saves Songbird in a £880m deal

China Investment Corporation, the sovereign wealth fund of China, has joined a consortium to help bail out the London's Canary Wharf, in its first big investment in UK.

Songbird Estates, the owner of Canary Wharf, informed on Friday that China Investment Corporation would form a consortium with Qatar Holding and several other investors to provide over £880 million in new equity.

The recent deal would save Songbird Estates from bankruptcy.

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