State firms invest  $35 bln overseas in 2008
The Ministry of Commerce said yesterday that in 2008, overseas direct investment (ODI) made by China's centrally-administered state-owned enterprises (SOE) was of 35.74 billion U.S. dollars. In 2008, 86% of the 136 SOEs invested in 127 countries. These investments account for 64% of China's total ODI for that year. Amongst the SOEs, 19 of them posted losses because of the investment. At the end of 2008, overseas enterprises established by the SOEs employed nearly 600,000 people, 40% of whom were locally employed.

China's BYD aims for country's top slot before 2015
China's battery and electric carmaker BYD said it aims to become the nation's largest passenger car manufacturer before 2015, its targeted schedule. Citing a senior company executive, BYD is also making efforts to fulfill its dream of overtaking Toyota as the world's No. 1 carmaker, through annual sales of over 10 million cars by 2025. In the first eight months of 2009, the Shenzhen-based firm sold 246,881 cars in total. Its half-year sales were up 133% over last year.

Murdoch and Bob Iger come to GZ for Cultral Industries Forum
Guangzhou will host the 3rd International Forum for Chinese Cultural Industries in November, which is known by insiders as the Davos for cultural industries. This year's theme will be on opportunities for cultural industries amidst the global financial crisis. Celebrities such as the highly controversial Rupert Murdoch and the president and the CEO of Walt Disney, Bob Iger, will attend the event and deliver speeches.

Shenzhen's Dongmen Wins National Award
According to the Shenzhen Economic Daily yesterday, a popular shopping area in Shenzhen was recently named as one of the nation's most well-known pedestrian commercial centers by the State Pedestrian Commercial Street Committee. Located in the heart of the city, Dongmen covers 176,000 square meters with annual revenues hitting 15 billion yuan (USD2.2 billion). Dating back to the late Ming Dynasty, Dongmen has long been a popular market in the region.

photo from sz.net.cn