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EU becomes largest export destination of China's trade hub

NANJING - The European Union surpassed the United States in the first quarter of 2010 as the largest export market for Suzhou city, a trade hub in East China's Jiangsu province, said local customs. Suzhou sold $8.83 billion worth of goods to the EU during the first quarter, up by ...

China's central SOEs see profit leap in Q1

BEIJING - China's centrally-administered state-owned enterprises (SOEs) raked in a combined profit of 230.9 billion yuan (US$33.8 billion) in the first three months this year, industry authorities announced Friday. The profit figure in the first quarter represented a 93 percent ...

Macao Feb hotel occupancy rate at 78.5%

MACAO - The average occupancy rate of Macao's hotel sector reached 78.5 percent in February 2010, with three-star hotels leading at 82.2 percent, according to the figures released Thursday by Macao's Statistics and Census Service ( DSEC). At the end of February 2010, the total ...

China trims holdings of US Treasuries by 1.3%

WASHINGTON - China trimmed its holdings of US Treasury debt 1.3 percent in February, the fourth consecutive decline. Those reductions are raising concerns that the US government could face higher interest rates to finance its soaring budget deficits. The Treasury Department said ...

Macao Feb visitor arrivals in package tours up 16.3%

MACAO - Macao's visitor arrivals in package tours increased by 16.3 percent year-on-year to 464,370 in February 2010, according to the figures released on Thursday by the city's Statistics and Census Bureau. The figure showed that visitor arrivals in package tours in February ...

China's fiscal revenue posts 34% increase in Q1

BEIJING - China's fiscal revenue rose 34 percent year-on-year to 1.96 trillion yuan ($287 billion) in the first quarter, boosted by rising tax revenues, the Ministry of Finance (MOF) announced Thursday. The rise was also a result of a lower comparison base for the same period ...

China's retail sales up 17.9% in Q1

BEIJING - China's retail sales, the main gauge of consumer spending in the world's fastest-growing economy, rose 17.9 percent year-on-year to 3.6374 trillion yuan ($532.56 billion) in the first quarter this year, the National Bureau of Statistics (NBS) said Thursday. The figure ...

China's coal output up 28.1% in Q1

BEIJING - China's coal output grew 28.1 percent year-on-year to well over 751 million tons in the first quarter, the National Bureau of Statistics said Thursday. The increase indicates China has built up a large coal production capacity after a rapid growth in fixed asset ...

China fixed asset investment up 25.6% in Q1

BEIJING - China's fixed asset investment continued to show strong growth in the first quarter of this year on the back of increased investment in the property market, bolstering the economic expansion of the world's fastest-developing nation. Fixed asset investment rose 25.6 ...

China's patent applications soar amid innovation drive

BEIJING: China's international patent applications soared to 8,000 cases last year -- the fifth most in the world -- as the country strives to promote independent industrial and technological innovation. Applications totalled 103 in 1994, when the nation approved the Patent ...

SAIC Motor Q1 net profit quadruples to record high

SHANGHAI: SAIC Motor Corp, China's biggest automaker, posted a more than quadrupling in first-quarter net profit, as government policy incentives helped drive strong growth in car sales in the world's biggest auto market. SAIC, which runs car manufacturing ventures with General ...

TCL Q1 profits triple

TCL Corp, one of China's leading TV makers, saw net profits of 64.58 million yuan in the first quarter this year, up 332.06 percent from the same period last year, the Shanghai Securities News reported Thursday. The Shenzhen-listed company's sales revenue rose 53.59 percent year...

Search engine Baidu's Q1 profit jumps 165%

BEIJING: Baidu Inc, which operates China's most popular Internet search engine, said Thursday its first-quarter profit jumped 165 percent on a rise in revenue and numbers of advertising customers. Net income in the three months to March 31 rose to $70.4 million, or $2.02 a share, ...

CNOOC Ltd says oil, gas output up 31.9% in Q1

BEIJING: China National Offshore Oil Company Limited (CNOOC Ltd) said Wednesday that its total net production increased 31.9 percent year-on-year to 67.3 million barrels of oil equivalent in the first quarter. The total unaudited revenue of CNOOC Ltd in the first three months of ...

China Merchants Bank Q1 net profit up 40.42% on interest income

BEIJING: China Merchants Bank, the country's sixth largest lender, said late Wednesday its net profit jumped 40.42 percent year-on-year to 5.91 billion yuan ($865 million) in the first three months of 2010. In a statement filed with the Shanghai Stock Exchange, the lender said ...

Industrial profit tops $100b in Q1

Industrial enterprises in China's 24 regions reported combined profits of 690.8 billion yuan ($101.2 billion) in the first quarter, more than double the figure of the same period last year, the National Bureau of Statistics (NBS) said in a statement Wednesday. The NBS did not ...

Hong Kong's tourism revenue up 3.2%

HONG KONG: Hong Kong earned HK$162.89 billion ($20.98 billion) from tourism last year, up 3.2 percent on 2008, the Hong Kong Tourism Board said on Tuesday. Board Chairman James Tien said that the increase in tourism expenditure was highly encouraging given the challenging ...

PetroChina's net profit up 71.2% in Q1

BEIJING: PetroChina Co, China's largest oil and gas producer, said Tuesday its net profit for the first quarter rose 71.2 percent year-on-year due to soaring crude oil prices and rising domestic demand. Net profit totaled 32.492 billion yuan ($4.75 billion) while earnings per ...

BOC enjoys leap in first-quarter profit

SHANGHAI - Bank of China Ltd, the nation's third-largest lender by market value, said first-quarter profit rose 41 percent, aided by rising demand for loans and fee-based services. Net income climbed to 26.23 billion yuan ($3.8 billion), or 0.10 yuan a share, from 18.57 billion ...

ZTE says Q1 net profit up 40%

HONG KONG: China's ZTE Corporation, a leading global provider of telecom equipment and network solutions, said Tuesday its net profit jumped nearly 40 percent to 109.9 million yuan ($16.1 million) in the first quarter this year. Total operating revenue in the first quarter rose ...

Latest World News

world

Chicago unveils Chinese New Year celebrations
Chicago unveils Chinese New Year celebrations
CHICAGO -- Chicago held a ceremony Friday at the landmark Daley Civic ...
UN chief, Syrian FM in verbal clash at conference
UN chief, Syrian FM in verbal clash at conference
The first day of the peace conference in Montreux, was marked by ...
Chaos on streets after three reported killed in Kiev
Chaos on streets after three reported killed in Kiev
Three people have reportedly been killed in Ukraine's capital Kiev ...

market

finance

Panel to push financial reform in FTZ
Panel to push financial reform in FTZ
Financial reform in the China (Shanghai) Pilot Free Trade Zone will ...
Economist sees world economy strengthening in 2014
Economist sees world economy strengthening in 2014
NEW YORK, Jan. 24 (Xinhua) -- Global economy is likely to gain ...
China economic reform in focus at World Economic Forum
China economic reform in focus at World Economic Forum
There’s been much talk of China at the World Economic Forum-and a ...

company

industry

China's banks must evolve or perish
China's banks must evolve or perish
As China's traditional banks raise interest rates to claw back lost ...
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 steelmakers see profits plunge
Chinese steelmakers see profits plunge
China's 77 major steel companies reported an average profit margin of ...

trade

sports

Injured star short-track skater Wang Meng left out of China's squad for Sochi
Injured star short-track skater Wang Meng left out of China's squad for Sochi Winter Games
Injured Olympic champion Wang Meng has been ruled out of the 139...
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 ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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