Geely buys Volvo in biggest overseas foray
Zhejiang Geely Holding Group, China's 10th largest automaker, sealed a binding deal on Sunday to buy Swedish car brand Volvo from US giant Ford, and this for $1.8 billion. The agreement was signed between the two automakers in Sweden, becoming China's biggest overseas auto purchase. Although Geely has promised not to close any factories in Europe, they are however already planning a factory in Beijing which will make 300,000 Volvo cars a year. The agreement will offer Geely access to a high-end brand and technology which it seriously lacks today.

China Construction Bank reports 15% net profit rise in 2009
China Construction Bank (CCB), one of the four leading lenders in China, announced Sunday that its net profit rose 15.32 percent year on year to 106.84 billion yuan (15.65 billion U.S. dollars) in 2009. The CCB's operating income decreased 0.12 percent in 2009 over 2008, the lender said in its 2009 annual report filed to the Shanghai Stock Exchange.

Sunning, Samsung target 10B RMB in sales
The leading Chinese home appliance retailer, Sunning, said on Sunday it has signed an agreement with the global electronics giant Samsung to target 10-billion-yuan ($1.46 billion) in sales in 2010. If achieved, it shall represent a 70 percent increase over 2009 sales, which amounted to 5.88 billion yuan.

Guangzhou Port Ranks 6th Worldwide
Guangzhou Port ranked sixth worldwide in 2009 in terms of both container throughput and cargo traffic. The port's container throughput rose in 2009 despite an overall decline in container throughput in ports across the country. In 2009, Guangzhou Port handled 375 million tons of cargo, up 4.4% year-on-year.