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The Chinese steel industry paid much more for iron ore imports last year because of the soaring prices, resulting in lower profitability or even losses for some steel makers the Economic Information Daily reported Wednesday, citing information from an internal industry meeting. ...
BEIJING - Hebei Iron and Steel Group Co Ltd, China's biggest steelmaker by output, said on Monday that it agreed to take 10 percent stakes in seven private steel mills in an alliance that will expand production capacity and enhance consolidation in Hebei province's fragmented ...
BEIJING - China's leading construction machinery maker, XCMG Construction Machinery Co Ltd, said Wednesday it plans to float shares in Hong Kong. The company made the announcement in a statement filed with the Shenzhen Stock Exchange.The IPO will be less than 20 percent of the ...
SINGAPORE - Global Logistic Properties (GLP), a unit of Government of Singapore Investment Corporation, has said it would buy a 53 percent effective stake in China's Airport City Development Co Ltd at the cost of 2.483 billion yuan ($374 million).The sellers are Prosper Line ...
BEIJING - Yanzhou Coal Mining Co Ltd, the third largest listed coal company in China, said it will increase the capital investment in its wholly-owned Yancoal Australia Pty Ltd by A$909 million ($917 million). The move will increase its total capital investment to A$973 million ...
SHANGHAI - The Shanghai-based China Eastern Airlines, a leading air carrier, said late Tuesday that its net profit in 2010 would hit a record high of 5.4 billion yuan ($816 million), 10 times that of 2009, thanks to the booming air travel in China. The company said in a statement ...
BEIJING - China's General Administration of Press and Publication (GAPP) announced Tuesday that 147 State-run publishing houses have been corporatized to become self-financing enterprises. The reform to convert 148 publishing houses into market players has come to an end, with ...
Moutai spirit, one of China's most prestigious liquor brands, sold out, which triggered a new round of price-surging in the liquor market after its producer set a new retail price this year, China Business News reported Tuesday. Kweichow Moutai Co Ltd raised its factory price by ...
The Brazilian iron ore exporter Vale SA (Vale) will raise the iron ore export price to China by 8.8 percent to $149.2 per ton in the first quarter, Reuters reported Monday. Vale will calculate the price according to the average Platts' Iron Ore Index Fe benchmark IODBZ00-PLT from ...
KATHMANDU, Nepal - China Eastern Airlines is resuming flights to the Nepali capital of Kathmandu from Jan 11. The airline will fly on Kunming-Kathmandu-Kunming route three times a week using Boeing 737-700 aircraft.Speaking at a press conference on Monday, Zhao De Jian, station ...
SHANGHAI - China Hainan Rubber Industry priced its Shanghai initial public offering (IPO) at the top end of an indicative range, raising $709 million in what could be a harbinger of a steady deal flow next year in China, the world's top market for IPOs, Reuters reported Thursday. ...
HONG KONG - Poly (Hong Kong) Investments Ltd has set a higher sales target for next year as the mid-sized Chinese developer focuses on second- and third-tier cities, which are less vulnerable to government tightening measures, Reuters reported Thursday. Poly (Hong Kong) ...
BEIJING - EBay Inc's PayPal business will set up an international e-commerce hub in Chongqing, as the company aims to boost exports from the nation by helping merchants conduct faster cross-border trade, Bloomberg News reported Thursday. PayPal agreed with Chongqing's municipal ...
SYDENY - A leading Chinese steel trading firm managed to get listed in Australian Securities Exchange (ASX) on Thursday, as the market opened the trading day at 11 am of Sydney local time. Rongtai International Group Holdings Limited aimed to issue 15 million ordinary shares at ...
SINGAPORE - Singapore's United Overseas Bank Limited (UOB) said its asset management unit had been approved to set up a joint venture fund management firm with China Ping An Trust Co Ltd and Sanya Yingwan Tourism Co Ltd, Reuters reported Thursday. The joint venture, named Ping An ...
BEIJING - China Guangdong Nuclear Power Group Co, the nation's second-biggest atomic-plant builder, is planning two reactors in Lufeng city to help meet rising demand in Guangdong province, Bloomberg News reported Thursday. Guangdong Nuclear is considering building two reactors ...
ANKARA - China Ocean Shipping (Group) Company (COSCO), China's largest shipping group, has been strengthening its foothold in Turkey since entering the market in 1996. COSCO, which owns and controls over 800 modern merchant vessels with an annual carrying capacity of 400 million ...
HELSINKI - Nokia Siemens Networks' (NSN) agreed $1.2 billion acquisition of Motorola's telecom network equipment arm has been delayed by the Chinese regulator, which has yet to grant permission for the deal, Reuters reported Thursday. The chief executive of Nokia Siemens, Nokia's ...
COPENHAGEN - Danish wind turbine maker Vestas said its orders from China this year reached a record high as the country invests more heavily in clean energy, including wind power, Reuters reported Thursday. China became the world's biggest wind turbine market in 2009 when energy ...
BEIJING - PetroChina Co Ltd plans to operate its newly started 200,000-barrel-per-day Qinzhou refinery in southern China at an average of 80 percent capacity next year, Reuters reported Wednesday, citing an anonymous source at the company. Planned throughput for next year was ...
China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
BEIJING, Jan. 22 (Xinhua) -- Policies of China's new leadership in the ...
Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...
China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
The Number One Document also proposed a new pricing plan for China's ...
IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
GM China chairman to retire
GM China chairman to retire
CHICAGO, Jan. 24 (Xinhua) -- General Motors Co. announced Friday that ...
Minivans rev up sales for GM
Minivans rev up sales for GM
Sales of General Motors and its Chinese ventures accelerated in ...
Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...
Chinese leader calls for more marine power
Chinese leader calls for more marine power
Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...
Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...