Editorial Summary

Air China (601111.SH; 0753.HK) might seek other partners to develop its business in Shanghai, reports Nanfang Daily quoting Air China acting chairman Kong Dong. Kong said Shanghai Airlines Co., Ltd. (600591.SH) and Cathay Pacific Airways could be potential partners. However, the report also quoted Kong as saying that Air China will not decrease its bid for China Eastern Airlines (600115.SH; 0670.HK; NYSE: CEA), despite the current bearish stock market, if China Eastern shows interest in cooperation. In February, China Eastern Airlines rejected Air China's January offer to purchase a 30 percent stake in CEA for at least HK$14.92 billion. Shares of Air China rose by the daily limit of 10 percent to close at RMB15.94 in Shanghai on Thursday.

China's largest oil and gas producer PetroChina's (601857.SH; 0857.HK; NYSE: PTR) 2007 net income rose 2.4 percent year-on-year to RMB145.6 billion, according to a company filing with the Shanghai Stock Exchange. The company's net income grew 6.6 percent year-on-year in 2006. Shares of PetroChina dropped 3.01 percent to close at RMB21.9 in Shanghai on Thursday.