Movie star Stephen Chow takes control of Emcom
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China's business press carried the following stories on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Movie star Stephen Chow takes control of Emcom - China Business News
Emcom International (8220.HK) announced Thursday that Hong Kong movie star Stephen Chow (Chao Sing-chi) has become the company's executive director and major shareholder, China Business News reported Friday.
The company has renamed itself as Bingo Group to reflect its new corporate image and identity. Shares of the company surged 26 percent to HK$0.285 on the news.
Bingo Group said it has signed a strategic cooperation memorandum with China Film Group to co-produce 10 to 20 films in the next five years, with an average production cost of 30 million yuan per film.
According to the company's chief operating officer Chen Yingqi, Bingo will launch "Yangtze River 7", a comedy directed by and starring Stephen Chow, in July.
Chow, who directed and starred in the hit comedies Kung Fu Hustle and Shaolin Soccer, told the newspaper that mainland online games operator NetDragon Websoft Inc. will release a 3D game based on "Yangtze River 7" at the beginning of July.
Aviation sector makes 9.39 bln yuan in first 4 months - Shanghai Securities News
In the first four months of 2010, China's aviation industry made net profits of 9.39 billion yuan, up 20.4 percent year-on-year, deputy director of the industry regulator, Sha Hongjiang, said on Thursday.
According to Sha, the aviation sector made a total of 12.2 billion yuan net profit last year, 3 billion yuan of which was made by airports.
Sha said that the Civil Aviation Administration of China (CAAC) is speeding up the construction of key airports and supporting the development of small- and medium-sized airports, and will continue to provide operational subsidies to smaller airports and regional air routes.
Mercedes-Benz eyes 300,000 sales by 2015 - Economic Observer
Mercedes-Benz has set a China sales target of 300,000 units for 2015, Mercedes-Benz CEO Dieter Zetsche said on Thursday.
Zetsche also said that the German automaker will invest 200 million Euros in a joint-venture engine plant with Chinese firm BAIC. The plant, which will have an annual production capacity of 100,000 units, will be the first outside Europe to make Mercedes-Benz engines.
Mercedes-Benz sold 68,500 vehicles in China last year. Audi, its main competitor in the Chinese market, sold over 150,000, and has plans to sell 230,000 units by 2013.
In the first four months of 2010, Mercedes-Benz sold nearly 35,000 units, up 110 percent year-on-year. Zetsche said he expects sales to top 100,000 units this year.
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