China Construction Bank’s A share began trading yesterday. The ￥6.45 IPO closed at ￥8.53 , a whopping 32 percent gain, eye popping in any Western markets, but here in China, a big yawn. Two other smaller companies went public on the same day, both advanced 200 percent plus, cha-ching! CCB was the largest China IPO to date(￥58 billion), but that title will soon belong to Shenhua Energy, the nation’s largest coal miner. The offering attracted a record ￥2.6 trillion(USD $355 billion) of funds looking to buy shares. The actual amount raised, based on projected ￥37/share and 1.8 billion shares offered would fall somewhere in the neighborhood of ￥66.6 billion, still a lot of zeros. more ›

Didn’t take long for our first new year wish to get squashed. On Tuesday, United Airlines won preliminary approval from the US Department of Transportation to operate a daily non-stop flight between Washington, D.C. and Beijing starting this March, beating out proposals from fellow carriers Northwest (Detroit to Shanghai), American (Dallas to Beijing) and our favorite, Continental (Newark to Shanghai). more ›

Northwest Airlines has submitted a proposal to start nonstop service between Shanghai and Detroit on or about March 25, 2007. The report says they have filed their request with the U.S. Department of Transportation. We're not quite sure how this clearance works, but wouldn't they have to get approval from China, too? more ›