On the heels of its surprise tie-up with Taiwan’s Chunghwa Telecom, Google and China Mobile have begun developing a joint mobile search project for launch in 2007, according to Forbes quoting the official Shanghai Securities News. The report, which cites sources including a China Mobile executive, is thin on details, so we’ll simply have to wait this one out.

In the meantime, China Mobile is said to be preparing for a stock market listing on the mainland. (The mobile operator is currently listed on the Hong Kong and New York stock exchanges.) The source of the rumor is a report in the 21st Century Business Herald, which quoted an unidentified source close to the company as stating that an IPO can be expected in the first half of this year. True or not, the rumor that China Mobile might issue A shares on the mainland in 2007Q2 was a boost to the stock market. Share prices ended the morning session sharply higher on strong interest in China stocks.