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Construction starts on southwest China high-speed railway

Construction began Monday on a high-speed railway linking southwest China's Chongqing Municipality and Chengdu, capital of Sichuan Province, said Wu Yong, director of Chengdu Railway Bureau. The project was scheduled to take four years, and the 308 km high-speed link would halve ...

High-speed railways to integrate economy around Beijing

The construction of a new express railway section between two cities near Beijing was kicked off Sunday, which, when completed, is expected to further speed up economic integration around the Chinese capital. The 158-km-long railway linking coastal Tianjin and Baoding in Hebei ...

River tunnel completed in Sino-Russian oil pipeline project

Chinese workers have completed a tunnel beneath a border river with Russia, the most significant part of the crude oil pipeline project linking the two countries. More than 80 workers had been drilling the 1,090-meter tunnel beneath the Heilong River since Sept. 1, 2009, said Li ...

Northeast China starts building new border railways

Northeast China's Liaoning Province began construction Wednesday on two railways near the border with the Democratic People's Republic of Korea (DPRK) to boost trade and tourism between the two countries. One of the lines would link Shenyang, the provincial capital, and the ...

China to build new port to boost Inner Mongolia's coal output

The landlocked coal-rich Inner Mongolia in north China will soon have an open access to ship its coal from a port in its neighboring province to fuel-thirsty customers in eastern and southern regions. A port terminal to be built in Huludao, Liaoning Province, will support an ...

Cosco share sale to fund new ships

China Cosco Group, the world's second largest shipping company, announced on Tuesday plans to raise as much as 3.9 billion yuan, one day after its real estate subsidiary stunned the public by buying land at a record high price in Beijing. Cosco hopes to sell 390 million new ...

Shanghai maglev line questioned over high cost

A recent online post comparing the speed of the magnetically levitated train with the high-speed rail in Shanghai has aroused questions from the public over the project's high cost. According to a report from the Yangcheng Evening News, the comments were posted in an online forum ...

Chinese firms attend airport exhibition in Dubai

The 10th edition of the annual Airport Show entered the second day Monday in Dubai, a member of the seven-strong federation United Arab Emirates (UAE), bringing together more than 220 exhibitors from 34 countries or regions, including 10 from China. Participants in the three-day ...

China Southern Airlines reports Q1 profit upsurge

China Southern Airlines Company Limited (China Southern) posted upsurge in profits in the first quarter from the low base last year due to the rebounding domestic aviation demand and rising investment revenue. In its unaudited quarterly results filed with the Shanghai Stock ...

China's Hainan Airlines returns to black in 2009

Hainan Airlines Co., Ltd, one of China's major airlines, said Saturday its 2009 net profit returned to the black. Its net profit last year hit 334.67 million yuan (49.07 million U.S. dollars) compared with 1.41 billion yuan loss in 2008, the company said in a statement filed to ...

China, Singapore ink cooperation agreement

China Aviation Oil (Singapore) Corporation Ltd (CAO), the largest purchaser of jet fuel in the Asia-Pacific region, announced on Friday that it has inked a non- binding strategic cooperation framework agreement with the Bank of Communications Co., Ltd Singapore Branch (BOCOM). ...

Aerospace firm wins C919 deal

US Aerospace firm Hamilton Sundstrand said it has won a $1 billion long-term contract to provide the electric power generation and distribution systems for China's first single-aisle C919 aircraft, beating rivals including General Electric Co. A source close to the deal told ...

HK raises aviation passenger fuel surcharges

Hong Kong's aeronautical authority Thursday approved the passenger fuel surcharges levied by three airlines to be increased or remain at the same level for the period from May 1 to 31, 2010. The Civil Aviation Department (CAD) announced the new maximum levels of fuel surcharges ...

Guangshen Railway Company 2009 net profit rises 12%

Guangshen Railway Company Ltd., one of China's major railway operators, said Thursday its 2009 net profit rose 12.01 percent year on year. Net profits hit 1.36 billion yuan (198.68 million U.S. dollars) last year on revenue of 12.39 billion yuan, which was up 5.96 percent from ...

Air China reports 2009 net profit up 155%

China's national flag carrier Air China said Thursday it swung back into the black last year on the back of lower fuel costs and higher passenger volumes. The country's largest carrier said net profits jumped 155 percent to 5 billion yuan (736 million U.S. dollars), compared with ...

SkyTeam offer airlines plane sailing

Competition in China's aviation market has intensified after China Eastern Airlines, the nation's second-largest carrier, announced plans to join the SkyTeam Alliance, linking it to overseas heavyweights such as Air France-KLM and Delta Air Lines. China Eastern signed a ...

China Eastern resumes some flights to Europe

China Eastern Airlines resumed some flights to Europe Wednesday, a week after ash from a volcanic eruption in Iceland halted air travel. China Eastern resumed services between Shanghai and some European cities including Moscow, Frankfurt and Paris. The airline had canceled 17 ...

CNR annual net profit rises 16% on growing demand

China CNR Corporation Ltd., one of China's major locomotive and rolling stock producers, said Tuesday its 2009 net profit rose 16.34 percent on the back of strong domestic demand and rapid expansion into overseas markets. Net profits hit 1.32 billion yuan (192.54 million U.S. ...

HK's public transport patronage up 0.9%

Hong Kong's public transport network saw 4.1 billion passenger journeys last year, representing an average annual growth rate of 0.9 percent on 1999, the authority announced on Tuesday. In a feature article on the trend of local public transport patronage from 1999 to 2009 in the ...

Air China resumes flights to Europe

Air China, the nation's flagship international carrier, Tuesday announced the restoration of some services to Europe as air traffic controls imposed in the wake of a volcanic eruption in Iceland were eased over the continent. Flights from Beijing to Moscow, Stockholm and Rome had ...
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finance

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industry

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