IN BRIEF (Page 18)

Consumption

Johnson & Johnson eyes middle class

Global healthcare giant Johnson & Johnson will attach more importance to the Chinese market due to the expansion of the country's middle class and its aging population, says the company's chief executive officer.

"We would expect the growth in the Chinese market to be faster than in other regions in the world, driven by a number of things. One is, of course, the increasing middle class in China," said Alex Gorsky, who was attending the Fortune Global Forum in Chengdu. China's aging population is also expected to boost consumption of certain products, he said.

Aviation

100 Airbus planes on way to China

European aircraft manufacturer Airbus says it will deliver more than 100 passenger planes to China this year, with its four-year deliveries to China totaling more than 400.

Air China, the country's leading carrier, and its subsidiary Shenzhen Airlines signed deals at the end of last month to buy 100 Airbus 320-series planes for $8.85 billion.The market share for Airbus' wide-bodied aircraft in China has reached more than 60 percent, with 110 Airbus A330 aircraft in operation.

Finance

Credit Suisse mooted for key Alibaba role

Credit Suisse is expected to take a leading role in the anticipated IPO of China's Alibaba Group, a coveted position that would yield massive fees for the bank, say sources close to the matter. The Alibaba offering may come by the end of this year and is likely to rival last year's $16 billion IPO by Facebook Inc in terms of size.

Alibaba Group Holding has yet to officially announce that it will hold an IPO, but the company is thought to have intensified its meetings with investment banks over the past few weeks. And many banks have flown over top executives to China for the meetings. Citigroup Inc CEO Michael Corbat was recently in China to meet Alibaba executives, one source said.

Tech

WeChat to expand in global market

WeChat, a mobile chatting tool developed by Tencent Holdings Ltd, is discussing cooperation with Chinese mobile carriers and exploring opportunities overseas, says Tencent's chairman Ma Huateng.

"Currently, Tencent is well-kown in China. However, outside the country, few people know us," he said. "There is plenty of room for us to promote the globalization of WeChat services and even other online communality services."

WeChat has 50 million users in the overseas market, according to public figures.

Manufacturing

Vallourec opens tube plant

Vallourec, a world leader in premium tubular solutions primarily serving the energy markets, has opened a plant in Guangzhou, capital of Guangdong province, aiming to accelerate its growth in the fast-growing Chinese market, the company announced.

The plant, with investment of up to 55 million euros ($72.8 million), has designed annual capacity of 2,000 km tubes for steam generators for the Chinese nuclear power industry, the company said.

The company's sales in China currently account for 3 percent of its total.

China plastic industry shows slower growth

China's plastic output rose 11.5 percent in the first four months, two percentage points higher than the country's overall industrial output growth, but slower than the 16.9 percent in the same period last year, a report from China National Light Industry Council showed. Plastic products exports in the same period were up by 23 percent year on year.

The plastic industry reflects trends in the petrochemical market and the macro economic situation.

China Daily-Agencies

(China Daily Africa Weekly 06/14/2013 page18)