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PetroChina forms ventures with Ineos

PetroChina, China's largrst oil company, invests in INEOS Refining Ltd. PetroChina Co yesterday announced it has finished forming two joint ventures with INEOS Group Holdings Plc to conduct crude oil refining and trading. The two joint ventures, INEOS Refining Ltd and INEOS ...

Property firms come under price pressure

A surveyor at work outside a property in Beijing. Property companies are now under pressure to cut prices of new homes to ride out tightening measures. [Photo / For China Daily] Beijing Capital Development says it will not cut its sales targets for 2011 BEIJING - The mid-sized ...

Efforts urged to boost equipment manufacturing sector

Jia Qinglin (R, front), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, visits a company of the China First ...

Old train tickets and the memory of yesteryear

Train miniatures, commemorative coins, first day covers and especially the old tickets of the Beijing to Shanghai rail route are selling fast and furious as the new high-speed trains start their runs. The first day cover commemorating the start of the Beijing-Shanghai High-speed ...

High-speed rail economic ripples

Jinan and Tai'an: Towering expectations Two more Shandong cities - Tai'an, famous for its mountain, the Taishan and Jinan, famous for its springs - are also ready for fresh tourism and investment opportunities rolling in at high speed. "We aim to make Tai'an into an international ...

China's ports will remain number one

A harbor at Qinzhou in the Guangxi Zhuang autonomous region. [Photo / China Daily] BEIJING - Chinese ports will remain the busiest in the world this year, although sluggish economic recovery in the United States and the European Union (EU) will dent their container volume growth, ...

Income tax threshold in surprise increase

NPC sets the mark at 3,500 yuan after gauging public opinion BEIJING - The monthly personal income tax threshold will be raised to 3,500 yuan ($540) from 2,000 yuan, providing a bonus to wage earners with a larger than expected tax cut. The National People's Congress (NPC) said ...

Ex-official named to No 2 spot at China Mobile

Xi Guohua, Party secretary and vice-chairman of China Mobile BEIJING - Xi Guohua has been appointed as the Party secretary and vice-chairman of China Mobile Communications Corp, which analysts said will add momentum to the development of homegrown fourth generation (4G) mobile ...

Manufacturing production slows

A textile factory in Huaibei, Anhui province. China's Purchasing Managers' Index, an indicator of manufacturing activity, declined to 50.9 in June from 52 in May. [Photo / China Daily] June PMI fell to 50.9, indicating a slowdown in national economy BEIJING - China's manufacturin...

Markets get a boost from June PMI data

The booth of Inner Mongolia Yili Industrial Group Co at an expo in Shanghai. The dairy producer added 3.8 percent to 17.29 yuan ($2.98) on Friday, its highest close since June 10.[Photo / China Daily] Shanghai - Most stocks on the Chinese mainland rose on Friday, capping a second ...

Greek measures boost equity markets

China Shenhua Energy Co climbed 2.7 percent to 30.14 yuan ($4.66) on Thursday. Oil and coal companies led gains for commodity producers on higher raw-material prices. [Photo / China Daily] Shanghai - Stocks on the Chinese mainland rose, paring the benchmark index's first ...

Local banks gaining ground on 'Big Four'

Smaller banks are gaining popularity in their competition with the four largest lenders, according to research conducted by McKinsey & Co. [Photo / China Daily] SHANGHAI - While the Chinese still prefer to open accounts in the "Big Four" banks in China, more and more are taking ...

Commerzbank in market for cross-border M&As

A branch of Commerzbank in Frankfurt, Germany. In 2010, the lender worked on six M&A transactions between Chinese and German companies. Hannelore Foerster/Bloomberg SHANGHAI - Commerzbank AG, Germany's second-biggest bank by assets, said its investment banking business in China ...

Preview: BJ-SH high-speed rail

Get Flash Player The Beijing-Shanghai high-speed railway is nearly set to open to the public. The train, which travels at 300 km/h, can make a one-way trip in five hours. To give you an early glimpse, cameras followed China Daily reporter Huang Lan as she rode the train on a ...

China more choosy in energy buys

PetroChina and Canadian company Encana failed to reach an agreement to co-develop shale natural gas in Canada, Encana said in a statement on June 21, 2011. The failure of negotiations on PetroChina Co's proposed C$5.4 billion (US$5.5 billion) purchase of Canadian shale natural ...

Social security set to cover foreign workers

Foreign workers in China will soon be covered by the country's social security program, according to the Social Insurance Law, which will take effect on Friday. The new law will allow foreign employees to receive medical, work injury, retirement, unemployment and maternity ...

Small firms, big problems as costs rise

A garment factory in Baigou, Hebei province. China's small enterprises are facing increasing pressure from rising costs and some are closing their doors as a result. [Photo / China Daily] Rising prices have not only been hitting consumers, but also small businesses, Chen Jia ...

Fresh foods find comfortable houses

Drolma (left), a farmer in Norbukhyungtse village of Bainang county in Tibet, learns technologies of planting vegetables in a greenhouse from an agricultural expert. [Photo / Xinhua] XIGAZE, Tibet - Despite the harsh dry climate and clay soil in Southwest China's Tibet autonomous ...

Tourism to Taiwan made easier

A mainland tourist surnamed Xiao (in wheelchair), prepares to go to Taiwan with her family at Beijing Capital International Airport on Tuesday. [Photo / China Daily] Taipei / Beijing - The first group of individual tourists from the mainland arrived in Taiwan on Tuesday, bringing ...

E-retalier gets tax bill, triggers debate in China (2)

B2C (business to consumer) stores run in enterprise modes and thus should pay taxes, but most C2C (consumer to consumer) stores are of small scale and should be encouraged to expand through preferential tax policies, Huang said. Zhou Qinnian, head of My 1 Percent, could not be ...
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Latest World News

world

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finance

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company

industry

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trade

sports

Injured star short-track skater Wang Meng left out of China's squad for Sochi
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