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CCB expanding global footprint

Lender to be cautious on bond investments by overseas branches BEIJING: China Construction Bank (CCB), the nation's second-largest lender by market capitalization, is planning to increase its global footprint by expanding into regional financial hubs and economies that have close ...

Vanke may hike five-year term loan to $500m

Real estate company has $864mof debt set to mature in 2013 BEIJING: China Vanke Co, the nation's largest real estate developer, plans to increase a $300 million loan being organized by Bank of China Ltd by as much as $200 million, according to two people familiar with the matter. ...

Boshiwa eyes Hong Kong float

BEIJING: Boshiwa International Holding Ltd, a Chinese manufacturer of garments for children and teens, is preparing for a listing on the Hong Kong bourse this year, an industry source told China Daily on Monday. "The company has submitted the application to the Hong Kong Exchange...

GM steers China sales to new heights

Visitors to a General Motors(GM) Co dealership inspect a Buick vehicle in Shanghai.[Agencies] BEIJING - General Motors Co's China sales rose to a record in March, surpassing its US deliveries for a third straight month and cementing the country's importance as the world's largest ...

Carrier to resume extra flights

Air Canada's overall capacity will increase 4 to 6 percent this year, while Asia will see a more-than-10 percent rise in capacity.[Agencies] BEIJING - Air Canada, the flag carrier of the North American country, said it will resume double daily services to Beijing and Shanghai in ...

Airbus sees corporate jet sales take off in China

BEIJING: European aircraft manufacturing giant Airbus said it is aiming to sell five corporate jets in China annually over the next few years as the country has become the world's fastest growing market for private jets thanks to the rise of the ultra-wealthy in the country. ...

Zosco planning Shanghai float

BEIJING: Zhejiang Ocean Shipping Co is planning an initial public offering (IPO) of its shares on the Shanghai Stock Exchange this year to bolster capital and strengthen its competitiveness in the ocean shipping industry, a source familiar with the matter said on Wednesday. The ...

PICC aims for profit from underwriting in 2010

A PICC ad in the file photo taken in Shaoyang, Hunan province. [Asianewsphoto] PICC Property & Casualty Co, China's largest non-life insurer, aims to achieve a profit from underwriting operations this year as premium rates rebound and the company improves claims management. ...

Producers set to push up steel prices higher

A vendor at Zhengzhou Steel Market. Average steel prices in China are now at their highest point since August 2009, rising by 15 percent over the last month. Ma Jian / for China Daily Rising raw materials costs are forcing major steel mills to act BEIJING: China's third- largest ...

Overdue payment volume rises

BEIJING: Chinese companies face climbing overdue payments in both length and amount despite the return to strong economic growth, signaling an increased probability of defaults or even bad debts, said a report from French credit-insurance provider Coface. According to Coface's ...

China Eastern to join SkyTeam

A China Eastern Airlines' plane, with a Shanghai World Expo 2010 logo on it, at the Shanghai Hongqiao Airport. [China Daily] Carrier rebuffs proposals from Oneworld, Star Alliance SHANGHAI - China Eastern Airlines Corp, the nation's second-biggest carrier, will join the SkyTeam ...

Sinopec to siphon off 9% stake in Syncrude Canada for $4.65b

Workers inspect natural gas equipment at a Sinopec facility in Hebei province. Spending by Chinese companies on mining and energy acquisitions reached a record $32 billion last year.[China Daily] HOUSTON - China Petrochemical Corp agreed to pay ConocoPhillips $4.65 billion for ...

MCC bidding for Anglo's zinc assets

Metallurgical Corporation of China Ltd has recently taken steps to expand its global footprint by making investments in overseas mining assets. [Agencies] London-listed company has mines in Ireland, Namibia and South Africa BEIJING - Engineering, procurement and construction ...

Alibaba to delve deeper into online payments

An Alibaba booth at a recent digital products exhibition held recently in Beijing. The company's subsidiary Alipay controlled about 50 percent of China's online payment market in 2009. [China Daily] BEIJING: Chinese e-commerce giant Alibaba Group said on Monday it will invest 5 ...

Technology key to keeping cutting edge

Billionaire blames small firms' excessive output on reluctance to invest A worker inspects a completed solar panel before packaging at a solar power factory in Wuxi,Jiangsu province. The effective demand for what the photovoltaic industry produces is huge. [Agencies] BEIJING - ...

China Life to buy bonds

Yang Chao, chairman of China Life Insurance Co, speaks during a news conference in Beijing on Thursday.[Agencies] BEIJING - China Life Insurance Co, the country's largest insurer, will increase the proportion of bonds in its overall investment basket and actively seek strategic ...

Sinopec completes $1.3b Brazil pipeline

A worker inspects a Sinopec natural-gas facility in the Zhongyuan Oilfield, Henan province.[China Daily] BEIJING - China Petrochemical Corp, the nation's second-biggest energy producer, completed a $1.3 billion natural-gas pipeline in Brazil before a visit by Chinese President Hu ...

Geely's Volvo brand popular at New York show

Volvo cars on display at the 2010 New York International Auto Show. Geely Automobile signed a deal with Ford last month to acquire Volvo for about $1.8 billion. [China Daily] NEW YORK - American car buyers are undeterred by Geely Automobile Holdings Ltd's purchase of Volvo, ...

China poised to be world's largest LCD TV market

An attendee checks out an LG Electronics 47-inch LCD HDTV with slim, full LED-backlight technology and NetCast Entertainment Access at the 2010 International Consumer Electronics Show in Las Vegas.[China Daily] BEIJING - LG Electronics Inc, the world's second largest TV brand and ...

Job fair promotes low-carbon firms

Job seekers join a job fair that claimed to be low-carbon. The event included no promotional material from companies and encouraged more online resumes.[China Daily] Several hundred graduates rushed to the first job fair for low-carbon professionals on Sunday in Beijing, but ...
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