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BEIJING, May 10 (Xinhuanet) -- Professional social networking site LinkedIn is aiming for a valuation of 3.3 billion U.S. dollars for its initial public offering, media reports said Tuesday.The Mountain View, California-based company is expected to begin trading on the New York Stock Exchange within the next month and will use the symbol "LNKD."It plans to offer 7.84 million shares priced at 32 dollars to 35 dollars each, according to the filing, which it submitted to the Securities and Exchange Commission.LinkedIn, which has more than 100 million members in over 200 countries and territories, is seeking to raise as much as 274.4 million dollars from the initial public offering (IPO) with 146.6 million dollars going to the company itself.In 2010, LinkedIn made 15 million dollars in profit on 243 million dollars in revenue, according to the filing.LinkedIn's biggest shareholder is its founder and chairman, Reid Hoffman, who owns more than 21 percent of the company.

BEIJING, Feb. 8 (Xinhua) -- China respects the results of south Sudan referendum, which was announced Monday, Chinese Foreign Ministry spokesman Hong Lei said Tuesday.Hong made the remarks in a statement concerning China's view on the results of the referendum."China respects the choice of Sudan people and appreciates the unremitting efforts of both the north and the south to promote the peace process between the two sides," Hong Lei said."China hopes the two sides will continue to resolve controversial issues through dialogue and consultation in line with the principle of mutual understanding and mutual accommodation," Hong said."China expects full implementation of the Comprehensive Peace Agreement(CPA) as well as long peace and stability in Sudan."The referendum, conducted from Jan. 9 to 15, was a major condition of the CPA, which ended a two-decade civil war between the two sides.The South Sudan Referendum Commission Monday announced the final results of the referendum saying that 98.83 percent of the voters had voted for separation.

SHANGHAI, Jan. 29 (Xinhua) -- Three Carrefour stores were fined 500,000 yuan (75,988 U.S. dollars) each on Saturday for overcharging customers in east China's metropolitan Shanghai, said municipal price regulators.The fine is the highest for such wrongdoing, with the tickets being issued Saturday morning.The three stores were also ordered to correct their illegal pricing and refund overcharged customers, said the regulators.A hearing will be held to decide the final amount of the fine. Carrefour representatives will be able to respond to the charges at the hearing, according to regulators.China's price regulator announced last week that it had found several retailers cheating customers, which included 11 of Carrefour's China stores.Carrefour China promised customers Saturday that it would provide refunds of five times the difference between advertised prices and incorrect prices charged at registers, after it was blacklisted by Chinese authorities due to deceptive pricing.Chen Bo, spokesperson with Carrefour China, apologized to Chinese customers during an exclusive interview with Xinhua.Chen said the company has started to work on this pricing issue.Carrefour China has established both short-term and long-term measures to resolve the issue, Chen added."We will have our special control group conduct internal price inspections, with wide coverage and high frequency," Chen said.Chen said the refund policy would be permanently implemented at Carrefour's 182 outlets in China, with non-implementation of the policy being regarded as a violation of company rules.The National Development and Reform Commission, China's top economic planner, also urged authorities to step up price checks ahead of the Spring Festival, which falls on Feb. 3 this year.The Spring Festival holiday is usually the busiest shopping season, as the public makes large purchases of food and gifts for families and friends.

BEIJING, Feb. 11 (Xinhua) -- China's foreign exchange regulator said Friday it did not suffer any losses from its investment in Fannie Mae and Freddie Mac bonds, adding that media reports of up to 450 billion U.S. dollars of losses were "groundless.""Up until now, the capital and interest repayments of Fannie Mae and Freddie Mac bonds is normal, and no losses have incurred," The State Administration of Foreign Exchange (SAFE) said on its website.Annual yields of the bonds were around 6 percent between 2008 and 2010, the SAFE said.The regulator, which oversees China's more than 2 trillion U.S. dollars of foreign exchange reserve, also clarifies it had not bought any stocks of the two troubled mortgage companies.UPI reported on Friday that the Obama Administration will propose phasing out the two mortgage giants after rescuing them, which is part of a U.S. Treasury Department white paper to Congress that lays out three ways of cutting government support to the 10.6 trillion U.S. dollars mortgage market.

SAN FRANCISCO, May 10 (Xinhua) -- Google on Tuesday launched its long-awaited cloud-based music service Music Beta without any label licenses it originally wanted.The search giant introduced the digital music locker service at its annual I/O developer conference in San Francisco. So far, only U.S. users can access the service by requesting an invitation from Google while priorities will be given to those with the Verizon version of the Motorola Xoom tablet and attendees of the I/O conference.Since Google failed to come to a license agreement with major music labels, Music Beta is essentially a massive cloud hard drive. Users cannot share their Music Beta by Google tunes or purchase new songs. It allows users to upload 20,000 songs into the cloud, compared with Amazon Cloud Drive's 2,000 songs and 5 GB limit for free accounts.Any web-connected devices with a browser or supporting Flash can stream music from the digital locker, but the service is only for Android-powered devices.Music Beta also gets Instant Mix, a similar intelligent feature to Apple's Genius playlist creator, which creates new playlists based on a single song by analyzing its characteristics.Before unveiling the service, Google told U.S. media Monday night that the current Music Beta is not the service Google had wanted to offer and it will continue to seek licenses with major music labels.