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China Unicom Limited announced more details regarding its proposed acquisition of China Netcom on Wednesday. At the completion of the merger, expected to be October 15, China Netcom will become a wholly-owned subsidiary of China Unicom with Netcom BVI, the immediate controlling shareholder of China Netcom, taking approximately 29% stake in China Unicom. The resulting company will be renamed China Unicom (Hong Kong) Limited.

The merged company, with its anticipated 3G license, may see wireless capital expenditure reach RMB 100 billion in 2009 and 2010. Existing annual caps for China Unicom subsidiary China Unicom Corporation Limited to spend on equipment procurement in 2008 and 2009 are RMB 75 million and RMB 95 million, respectively.

The agreement details new continuing connected transactions including engineering and information technology services agreement with proposed maximum spending of RMB 4.4 billion for each of the three years between 2008 and 2010 and a support services agreement capped at RMB 1.5 billion for each of three years.

China Netcom may spend as much as RMB 15 billion on the replacement of copper cables with fiber optics within the next three to five years.

Lisa

from b2bsee * Asia - Europe Business

Transaction volume on official Olympics e-commerce platform 2008eshop.cn, the exclusive electronic shop opened by the Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG), had reached RMB 30.79 million by August 10 after recording 65.79 million clicks and 18,565 orders. The platform currently sells products in over 4,000 categories to consumers in 1,238 cities nationwide. 2008eshop.cn went online on July 30, 2007.

Lisa

from b2bsee * Asia - Europe Business

China Mobile and China Netcom have spent RMB 15 billion and RMB 1.47 billion, respectively, on the establishment of special communication networks for the Beijing Olympics. Government data estimates that telecom information produced and transmitted during this year's Olympics will be 10 times that of the 2004 games.

Lisa

from b2bsee * Asia - Europe Business

China Mobile wireless music platform 12530.com recorded 5.73 million downloads of opening ceremony theme song "You and Me" between 10 pm on August 8 and midnight on August 9.

China Mobile's TD-SCDMA network recorded 7,000 users and over 800 video calls on the evening of August 8. China Mobile's network saw a peak of 110,065 calls per hour in the sixty minutes before the opening ceremony of the Beijing Olympics -- nearly twice that of the 2004 Olympics. About 250,000 people around the Bird's Nest used the network, while 22,829 nationwide users roamed internationally during the ceremony.

Lisa

from b2bsee * Asia - Europe Business

La consommation reste soutenue en Chine mais profite surtout aux produits étrangers et que le ralentissement économique aux Etats-Unis et en Europe offre moins de débouchés aux produits chinois, les importations de l'ex Empire du Milieu ont davantage progressé que les exportations depuis le début de l'année.

Le solde du commerce extérieur du pays a en effet vu son excédent reculer de 9,6% sur les sept premiers mois de l'année. Toutefois, la baisse était plus forte à fin juin (près de 12% de recul).

L'excédent commercial chinois atteint tout de même de janvier à fin juillet 123,72 milliards de dollars soit 80 milliards d'euros.

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Sur le seul mois de juillet, il s'élève à 25,28 milliards de dollars. C'est 900 millions de dollars de moins qu'un an plus tôt mais il est supérieur aux prévisions des économistes et au chiffre de juin (21,4 milliards de dollars).

Lisa

from b2bsee * Asia - Europe Business