BIZ MOVES

Director appointed

CB Richard Ellis has appointed Virginia Huang as senior director of office services in Beijing.

In the new position, Huang will assume overall responsibility for the management and operation of the office services business line in Beijing.

This management role will include overseeing the landlord agency and tenant representation teams in Beijing, as well as the formulation and implementation of a business strategy focused on securing new business and strengthening relationships with landlords and occupiers.

New country manager

Etihad Airways has appointed Tang Hoe Kun as its new country manager for China.

Tang has nearly 20 years of experience in the aviation industry. He started his career with Singapore Airlines, where he held various positions in market research, revenue management, corporate sales, marketing and operations. Tang also worked as regional manager for eastern and southern China at Qatar Airways.

GRAPEVINE

IPO plan

Hainan Meilan Airport Co plans a domestic initial public offering in the first half of next year to raise 1.5 billion yuan, the China Business News reported yesterday.

The airport, controlled by State-owned HNA Group, will use the proceeds to fund the purchase of airport assets from its parent, which operates 12 other domestic airports, the report said, citing an unnamed HNA executive.

BIZ UNUSUAL

Thinking inside the box

Two graduates from the marketing department of Renmin University in Beijing gave up their office jobs to found their own business selling boxed lunches to white-collar workers.

Ye Luchun and Zhao Shun were responding to complaints that boxed lunches usually come in limited selections and don't taste very good.

Their carefully prepared lunches have become popular among white-collar workers, and the two now earn a daily income of 3,000 yuan from their business. They plan to soon enter the high-end business lunch market.

Growing business

Urbanites in Kunming can now get a taste of rural living by renting small farm plots in the suburbs. About 38 mu (2.5 hectares) of land in Kunming's suburban area have been subdivided into 72-sq-m "mini farms".

The plots are rented out to city dwellers hoping to green their thumbs.

Most renters hire a local farmer as a consultant who would also tend to the gardens when the clients can't.

MARKET

Smelter purchase

China Nonferrous Metal Industry's Foreign Engineering and Construction Co signed a $73 million contract with Hindustan Zinc Ltd, India's largest producer of the metal, for the construction of a lead smelter.

China Nonferrous agreed to design and provide equipment for a 100,000-metric-ton lead smelter, the Beijing-based company said in a statement yesterday.

Q1 profit

Ctrip.com International Ltd, China's biggest online ticketing agent, posted a 52 percent increase in first-quarter profit, beating analysts' estimates, as rising wages in the nation spurred demand for flights and hotel rooms.

Net income climbed to 99 million yuan, or 1.42 yuan per American depositary receipt, from 65 million yuan, or 0.99 yuan, a year earlier, the Shanghai-based company said yesterday in a statement.

JV capital increase

Jiangxi Copper Co, China's second-biggest smelter of the metal, and partners will more than double the capital available for a finance joint venture for project development.

The venture's capital will be increased by 400 million yuan to 700 million yuan, the Guixi, Jiangxi province-based company said in a statement yesterday. Jiangxi Copper will contribute 133 million yuan.

(China Daily 05/16/2008 page14)