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COSCO acquires rights to Athens port

Vehicles for export sit parked at Piraeus port near Athens, Greece in February 17, 2010. [Agencies] Despite financial turmoil surrounding Greece, COSCO Pacific, a port operator subsidiary of China's State-owned shipping giant China Ocean Shipping (Group) Co (COSCO), has signed a ...

Foxconn announces another pay hike

SHENZHEN - The Foxconn Technology Group announced on Sunday night it would give its workers in Shenzhen a second pay raise in October this year in a bid to ease the tension triggered by a spate of recent suicides. Workers on a Foxconn production line pose for a photograph last ...

Gome names Wang Junzhou as new president

Wang Junzhou [Xinhua] Gome Electrical Appliances Holding Ltd, China's second-biggest electronics retailer by market value, appointed Executive Vice President Wang Junzhou as president after Chen Xiao resigned from the post. Chen will remain as chairman and executive director, ...

Snack maker's stock hot then not in Chinese IPO

Fuling Zhacai enjoyed a tasty IPO, but the future is less certain. The share price of the Sichuan-based snack maker endured a roller coaster performance after its debut on the Shanghai A-share market last week. It rocketed by 191.6 percent to 40.8 yuan on its trading debut and ...

Sany looks to overseas expansion for revenue

SHANGHAI - China's expansive spending on infrastructure projects has encouraged the domestic machinery producer Sany Heavy Industry Co Ltd to look for other countries experiencing a similar urbanization process, and try to increase its revenue from overseas activities to 50 ...

Yangtze Power may buy into EuroSibEnergo

China Yangtze Power Co is in talks to buy a stake in OAO EuroSibEnergo as a key investor for the Russian utility's planned IPO in Hong Kong. [Photo/China Daily] BEIJING - China Yangtze Power Co, the nation's biggest hydro-dam operator, is in talks to buy a stake in OAO EuroSibEne...

Taiwan coffee giant to take on Starbucks

An employee of 85C, a Gourmet Master Co bakery cafe shop, prepares a beverage in Taipei. Gourmet Master Co, which is raising funds through an initial public offering, plans to increase its coffee shops in the mainland to as many as 1,000 by 2015, challenging Starbucks Corp with ...

Restructure to create retail giant

Pedestrians pass the Shanghai Bailian Group's No 1 department store in Shanghai. [Photo/China Daily] Latest move to help parent Bailian Group 'face foreign competition' SHANGHAI - Shanghai Bailian Group, China's biggest retailer, has stepped up its corporate restructuring by ...

China's Huaneng gets nod for Dalian wind power plant

China's largest electricity provider, Huaneng Power International said on Thursday it had won approval for the first phase of a wind power plant in the north of the country. The company will invest 495 million yuan ($74.53 million) in the plant, Huaneng said in a statement filed ...

Venture capital drives small-and-medium enterprises

Venture capital can be an important driving force for the development of innovative small-and-medium enterprises in China, experts said on Nov 16 at a forum on venture capital investment. Part of the ongoing 12th China Hi-Tech Fair, the forum was attended by venture capitalists, ...

Gome sees profit jump as possible peace deal looms

Troubled electrical retailer reports 49 percent increase in earnings HONG KONG - Gome Electrical Appliances Holding Ltd, the China retailer seeking to end a dispute with its jailed founder over management control, said profit in the first nine months of the year surged 49 percent...

8 firms listed on German stock market in 2010

Eight Chinese businesses have launched on Deutsche B rse (German Board) this year, adding the total to 25, China Business News reported Wednesday. Property measures inspection launched Until now, four Chinese businesses were listed on Prime Standard, one on General Standard, five ...

RUSAL to buy 33% of Shenzhen North Investments

HONG KONG - United Company RUSAL Ltd said on Wednesday that it plans to buy a 33 percent stake in a Chinese aluminium trader to enhance sales and strengthen its market position in China, the world's largest user of the lightweight metal. RUSAL, the world's top aluminium maker by ...

Q3 profit increases at China Resources

HONG KONG - China Resources Enterprise Ltd, the Chinese government-backed partner of SABMiller Plc, reported third-quarter profit grew 1.4 percent. Net income in the three months ending September rose to HK$1.06 billion ($136 million) from HK$1.04 billion a year earlier, China ...

Fosun and Chindex form joint venture

Fosun Pharmaceutical expects the joint venture to upscale and supplement its existing business. [Photo / China Daily] SHANGHAI - Fosun Pharmaceutical (Group) Co Ltd announced on Wednesday that it will establish a joint venture with the US-based healthcare company Chindex ...

Yuan strengthens to 6.3319 against USD Thursday

The Chinese currency Renminbi, or the yuan, strengthened 23 basis points to 6.3319 against the U.S. dollar on Thursday, according to the China Foreign Exchange Trading System. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the ...

Falling yuan funds from forex make room for RRR adjustment

The latest data from the People's Bank of China (PBOC), China's central bank, showed that its yuan funds outstanding for foreign exchanges had dropped 89.3 billion yuan (about 14 billion U.S. dollars) as of the end of October compared to one month earlier, marking the first ...

Chinese shares close slightly higher on Dec.7

Chinese stock markets closed slightly higher on Thursday, with the benchmark Shanghai Composite Index closed up 0.29 percent, or 6.83 points, to close at 2,332.73. The Shenzhen Component Index edged up 0.2 percent, or 19.3 points, to close at 9,606.25.

Exchange looks to add foreign members

Analysts and investors welcomed the Shanghai Futures Exchange's plan to accept foreign traders as its members, saying the change will invigorate trading and increase the exchange's pricing power. On Tuesday, an exchange official confirmed a Bloomberg report that said the ...

Land Sales in Major Cities Down 31% in Jan-Nov

Land sales in 130 major cities slumped 30.6 percent year-on-year in the first 11 months of 2011 as tightening measures cooled off the property sector and squeezed developers, according to the Centaline property agency. Sales revenues reached 1.18 trillion yuan ($185 billion) ...
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Chinese leader calls for more marine power
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sports

Fourteen countries expected to compete in Cuba's wrestling tourney
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Yao's gift of sport for all
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