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China to subsidize 150m energy-efficient bulbs

BEIJING - China plans to subsidize the price to the public of 150 million compact fluorescent light bulbs (CFLs) this year to save energy, the country's top economic planner said on Tuesday.At least 30 percent of the CFL bulbs would be distributed in rural communities, said a ...

Subsidies to rural consumers top 30m yuan

China has subsidized 30.7 billion yuan to rural purchasers of home appliances, cars and motorcycles, the Beijing Business Today reported Wednesday, citing an official from the Ministry of Finance. Rural consumers have bought 68.19 million home appliances, 2.98 million vehicles ...

Expo causes sharp surge in travel costs

Trend expected to continue throughout summer months SHANGHAI - Expo 2010 Shanghai visitors will likely see a 20 percent jump in travel agency fees in the Yangtze River Delta Region before additional increases in the coming months. Suzhou Youth Travel Service Company sales manager ...

Sinopec to increase oil processing at Maoming refinery

China Petroleum & Chemical Corp, Asia's top oil refiner, will increase oil processing at its second-biggest refinery by 1.6 percent next month to meet rising summer demand. Oil processing volume at the Maoming refinery in the southern province of Guangdong will rise to 1.05 ...

Chinese banks earn 25% of profits worldover: magazine

There are 84 Chinese banks sitting in the world's top 1,000 now, though accounting for nine percent of capital but making a quarter of profits, according to a global magazine "The Banker" tracking banking services. Bank of America has leapfrogged JPMorgan to rank as the world's ...

Central bank sells 55b yuan of one-year bills

BEIJING - The People's Bank of China (PBOC), or the central bank, auctioned 55 billion yuan ($8.1 billion) of one-year bills at its regular open market operations Tuesday. The yield of the one-year bill stood unchanged at 2.0929 percent compared with the central bank's last one...

Shanghai to build 400 E-car charging stations

The Shanghai government will build 400 charging stations for electric vehicles this year, China Business News said, citing Liu Jianhua, an official in charge of promoting alternative-energy vehicles in the city. The city government will add SAIC Motor Corp's hybrid vehicles, ...

400b yuan raised since restart of IPO

One year after the restart of initial public offerings (IPOs), Chinese companies have raised 403.16 billion yuan ($59.37 billion) through their IPOs on the A-share market, xinhuanet reported Monday. A total of 274 companies have listed on domestic bourses since June 29, 2009, ...

China's phone users top 1.1 billion

BEIJING - The number of Chinese phone users continued to grow rapidly in the first five months of the year, surpassing 1.1 billion by the end of May, the Ministry of Industry and Information Technology (MIIT) figures showed Tuesday. China added 40.8 million phone users during the ...

China industrial profits up 53.5% in first 9 months

BEIJING - Chinese industrial profits rose 53.5 percent year on year in the first nine months of 2010, the National Bureau of Statistics (NBS) said Thursday. That growth rate was 2.8 percentage points lower than that in the first eight months. It was also lower than the 81.6...

PetroChina sees profit up 23% by Q3

BEIJING - PetroChina Company Limited (PetroChina), China's largest oil and gas producer, reported Wednesday that net profits surged 23 percent year on year in the first nine months. Net profit totaled 100.03 billion yuan ($14.93 billion) and earnings per share stood at 0.55 yuan ...

China Everbright Bank net profit surges 71% by Q3

BEIJING - China Everbright Bank announced Wednesday its net profit in the first three quarters of this year had surged 71.35 percent year on year to 10.06 billion yuan ($1.5 billion). The jump in net profit was due to an increase in interest-bearing assets and interest margins, ...

ABC reports 30% increase in Q3 profit

BEIJING - The Agricultural Bank of China (ABC), one of the country's "big four" state-owned commercial lenders, said Wednesday that its third-quarter profit rose 29.53 percent from a year earlier to 24.31 billion yuan ($3.63 billion) on the back of higher interest income. The ...

BOC posts 27% rise in profit in first 9 months

BEIJING - Bank of China, the country's third-largest commercial lender, said Wednesday that its net profit surged 27.48 percent to 82.96 billion yuan ($12.38 billion) in the first three quarters of this year. Earnings per share stood at 0.31 yuan, up 0.07 yuan from a year earlier...

Bank of China Q3 profit up 29%

Bank of China Ltd, China's fourth-largest bank by assets, said its net profit profit rose 29 percent to 27.22 billion yuan ($4.1 billion) for the July-September quarter, Reuters reported on Wednesday. The results beat the average forecast of 23.86 billion yuan from five analysts ...

Chinese commodities account for 80% in Myanmar import

YANGON - Chinese commodities accounted for 80 percent of Myanmar's import, varying from electronic devices, cement, paint, flour, iron and iron products to raw materials for soap, the local Biweekly Eleven quoted a trading company as reporting in this week's issue. These ...

1,181 listed firms post 48% rise in net profit

A total of 1,181 publically listed companies that have released the third quarter report posted total revenue of 2.74 trillion yuan ($410 billion), up 34.35 percent year-on-year, according to the statistics from the China Securities Journal. These listed companies achieved 249.98 ...

Online games help drive up Sohu's Q3 profit

China's No 2 Internet portal Sohu.com Inc posted higher third-quarter profit helped by strong growth in each of its four major business segments, including online games and brand advertising, Reuters reported on Monday. After deducting the share of net income relating to the non...

2/3 respondents back China's power pricing proposals

BEIJING - China's top economic planning body said Friday that 61 percent of Chinese respondents have expressed support for a proposed tiered electricity pricing mechanism aimed at saving energy.This came after the country's National Development and Reform Commission (NDRC) on ...

China's Sept power consumption down 12%

BEIJING - China's power consumption in September fell 12 percent month-on-month to 349.8 billion kilowatt-hours (kWh), the National Energy Administration (NEA) said Monday. The NEA did not provide the year-on-year growth rate for the month. But according to government figures, ...

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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