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China's stocks open slightly lower Wednesday after interest rate hike

BEIJING, April 6 (Xinhua) -- China's stocks opened slightly lower on Wednesday with the benchmark Shanghai Composite Index down 0.11 percent to 2,964.21. The Shenzhen Component Index opened 0.40 percent lower at the opening to 12,648.91. The People's Bank of China, the central ...

China Merchants Bank to boost transformation in next three years

NEW YORK, April 6 (Xinhua) -- CEO of China Merchants Bank(CMB) Ma Weihua said on Wednesday that CMB will promote its transformation in the next three to five years amid new economic challenges. Ma made the statement in his speech at the China Business Initiative Forum organized ...

Shanghai, Beijing to be third, fourth choices for billionaires: survey

SINGAPORE, April 7 (Xinhua) -- Shanghai and Beijing could become the third and fourth choices for the world's billionaires in ten years, though New York and London will remain the world's top two cities, a latest survey has found. Singapore is now the most popular city in Asia ...

Net profit for China's leading rare earth producer surges on rising prices

BEIJING, April 6 (Xinhua) -- The Inner Mongolia Baotou Steel Rare-earth (Group) High-tech Co. (IMBREHT), China's leading rare earth producer, said on Wednesday that its net profit reached a record high of 750.74 million yuan (114.62 million U.S. dollars) in 2010 due to rising ...

China builds "lines of defense" to guard imported inflation: official

TIANJIN, April 7 (Xinhua) -- The Chinese government has built "multiple lines of defense" to guard against imported inflation and will not let it fuel domestic consumer prices, a senior official at the country's top economic planner said Thursday. To contain rising inflation, ...

China to standardize overheated wind farm construction with new rules

BEIJING, April 10 (Xinhua) -- China's National Energy Bureau (NEB) is drafting new regulations to standardize the examination and approval of small wind farm projects, industry sources said. According to the rules, estimated to be promulgated in the first half of this year, local ...

China CNR Corp. reports 45% rise in 2010 profits

BEIJING, April 8 (Xinhua) -- China CNR Corp., the nation's second largest train maker, reported Friday that its net profits surged 45.12 percent year on year to 1.91 billion yuan (291 million U.S. dollars) in 2010. Revenue hit 62.18 billion yuan, an increase of 53.48 percent year ...

China to publish GDP growth on quarterly basis

BEIJING, April 8 (Xinhua) -- China's National Bureau of Statistics (NBS) said on Friday that it will publish the quarter-on-quarter growth of GDP starting April. NBS will also release the month-on-month growth of the industrial value-added, fixed-asset investment and retail sales...

Overseas property vendors eager to sell in Beijing

BEIJING, April 7 (Xinhua) -- The number of overseas property projects exhibited at the ongoing spring session of the Beijing Real Estate Expo doubled to more than 80 from last year, said the Expo's organizers on Thursday. The Expo, which kicked off on Thursday, attracted overseas ...

Huge opportunity in China's clean energy market

BOSTON, the United States, April 9 (Xinhua) -- China's clean energy market offers huge business opportunities, experts said at the Harvard China Forum here Saturday. In a panel discussion on clean energy, experts who have been keeping a close eye on China's renewable sectors ...

Chinese VP stresses development of strategic emerging industries

HEFEI, April 10 (Xinhua) -- Chinese Vice President Xi Jinping called for more efforts to foster and develop strategic emerging industries to help the country "take the high ground in the future world economy." Xi made the remarks during an inspection tour to east China's Anhui ...

China property developers cash-starved amid gov't tightening

BEIJING, April 12 (Xinhua) -- Chinese property developers are suffering from a slump in cash flow amid government tightening measures meant to battle rising inflation and rein in speculation in the housing market, according to a report by a financial information provider. The ...

China invests 18 billion yuan to improve safety of school buildings

BEIJING, April 11 (Xinhua) -- The Chinese central government has spent 18 billion yuan (2.75 billion U.S. dollars) over the past two years renovating and consolidating buildings at 65,000 middle and primary schools across the country, the Ministry of Finance (MOF) said on Monday. ...

China intensifies fight against child abductions

BEIJING, April 12 (Xinhua) -- China' s Ministry of Public Security on Tuesday ordered local police heads to "take charge of child abduction cases in person" in an effort to crack down on the crime nationwide. Heads of county-level police bureaus and other officials should ...

Li Changchun meets Armenian president on bilateral relations

YEREVAN, Armenia, April 11 (Xinhua) -- Armenian President Serzh Sargsyan on Tuesday met with Li Changchun, a member of the Standing Committee of the CPC Central Committee's Political Bureau, to discuss issues concerning bilateral relations. Li conveyed greetings from Chinese ...

Chinese official urges more efforts to guarantee social stability

BEIJING, April 12 (Xinhua) -- A senior Chinese official in charge of public security has called for additional social management efforts in safeguarding social stability. Chen Jiping, deputy director of the Central Committee for Comprehensive Management of Public Security, made ...

Nestle China insists products "absolutely safe"

BEIJING, April 13 (Xinhua) -- Nestle China released an announcement on Tuesday, saying its products are "absolutely safe for consumption", in response to earlier reports that cast doubt on the company's infant foods and alleged they contained toxic metals, China Daily reported. ...

Trace amounts of radioactive materials detected in more Chinese vegetables

BEIJING, April 13 (Xinhua) -- China's Ministry of Health said Wednesday that "extremely low levels" of radioactive isotope iodine-131 had been detected in various kinds of vegetables in 12 provincial regions. The radioactive isotope was found in spinach, asparagus, lettuce, ...

China to see more interest rate hikes in Q2

HANGZHOU, April 13 (Xinhua) -- China is expected to raise interest rates another two times in the second quarter of this year in an effort to counter persistent inflation pressures, a chief government economist said Wednesday. The full-year inflation would be held between 4 and 5 ...

China launches campaign to boost work safety, reduce deadly accidents

BEIJING, April 14 (Xinhua) -- China's top work safety supervisor on Thursday launched a three-month nationwide campaign on work safety to crack down on illegal activities in the mining, transport, chemical and explosives production sectors to prevent deadly accidents. In a ...
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