Chinese multi-platform media company SearchMedia Holdings Limited says it has reached settlement agreements for the arbitration between the company and certain of its predecessor shareholders.

Hong Kong's Environmental Protection Department announced the approval of 13 applications for funding support on the trial of green and innovative transport technologies under the Pilot Green Transport Fund.

In accordance with the related items in the Chinese Labor Law and Labor Contract Law, the Bureau of Human Resources and Social Security of Beijing's Haidian District has announced that Ku6.com's previous employee layoffs are illegal and invalid, and the bureau reportedly ordered the Chinese video website to make rectifications before May 30, 2011.

In the middle of flak concerning alleged securities fraud, Chinese financial services software firm Longtop Financial Technologies Limited announced that its chief financial officer, Derek Palaschuk, who was previously CFO at Chinese Internet firms Sohu.com and eLong.com, has resigned.

U.S. based law firm Levi & Korsinsky is reportedly investigating China Integrated Energy Inc. to determine whether it has violated federal securities laws by issuing false and misleading statements.

U.S.-based electric car firm Zap is working in Shanghai to develop eco-friendly transportation.

More than four years after it shuttered its Chinese retail banking operations, Bank of America's charity arm is now funding a conservation program in China.