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China COSCO chairman sees freight recovery in 3-5 years

GUANGZHOU - The head of China COSCO, the world's largest dry bulk firm, expected the global freight market to recover in three to five years. CCTV ad auction draws record bids>

Crucial time ahead for SOE shake-up

Cutting number of firms key task for SASAC In the middle of this year, the State Council announced a target of reducing the number of State-Owned Enterprises to between 80 and 100 by the end of this year and about 20 more need to be merged in the final two months. Two months ago, ...

Riding on the crest of a wave

SUZHOU, Jiangsu - One of the world's most expensive yachts, the Hatteras 105 - which carries a price tag of 150 million yuan ($22.54 million) - will soon cruise in Chinese waters, Brunswick Boat Group, the world's largest yacht producer and owner of the Hatteras brand, said on ...

Biopharmaceutical firms told better quality control holds key to global growth

SANMING, Fujian - The country's biopharmaceutical industry needs to tighten quality control measures and maintain its own standards to overcome barriers in overseas markets as well as secure an emerging domestic one, officials have said. "Quality problems in food and pharmaceutic...

AkzoNobel opens $385m base

Dutch firm AkzoNobel is now in a "very good position" to do business in China compared with North America and some European countries, says Chief Executive Officer Hans Wijers. [Photo/China Daily] Chemicals firm ready to ride on Chinese growth with record sum NINGBO, Zhejiang - ...

KPMG has 2nd-tier cities in its sights

BEIJING - International accounting company KPMG is stepping up its efforts to tap opportunities in the country's second-tier cities while keeping a close eye on mergers and acquisitions (M&A), Carlson Tong, KPMG's China chairman told China Daily. "We plan to set up branches in ...

Coca-Cola Co sees fizz in China

Coca-Cola Co staff line up outside the company's bottling plant in Hohhot, Inner Mongolia, on Oct 29. Coca-Cola is opening three new bottling plants in China this year, part of a three-year $2 billion investment in China. [Photo / Agencies] Drink-maker's chief executive plans ...

Firms told small is profitable

An employee of sportswear company adidas stands near a display at a store in Beijing. The company is one of many multinationals that plan to expand into China's lower-tier cities by riding on explosive growth in disposable income. [Photo / Bloomberg] China's emerging middle-class ...

CCTV ad auction draws record bids

China Central Television (CCTV) holds its 17th annual prime-time advertising auction on Nov 8, 2010 in Beijing. No 728 Nice Group, a leading personal hygiene products manufacturer, pays 150 million yuan to sponsor several prime-time CCTV series in the second half of 2011. [Photo ...

Aircraft give lift to $22b deal

President Hu Jintao is welcomed by his French counterpart Nicolas Sarkozy upon his arrival at the Elysee Palace in Paris for a meeting on Thursday. [Photo/ Xinhua] BEIJING - French and Chinese companies inked deals worth 16 billion euros ($22.8 billion) on Thursday, including an ...

China's 1st homemade light civilian helicopter debuts

TIANJIN - The first light civilian helicopter developed and manufactured in China made its successful maiden flight in northern port city of Tianjin Monday. The two-ton AC311 helicopter, developed and manufactured by the Aviation Industry Corporation of China (AVIC), has a ...

High-tech companies go west

Customers try out Hewlett-Packard notebook PCs at an HP outlet in Chongqing. The US-based computer maker plans to produce 24 million notebook PCs by 2012 in this southwestern city. [Photo/China Daily] New technology producers flocking to metropolis to bolster business CHONGQING - ...

Mickey Mouse moves a step closer

The Walt Disney character Mickey Mouse greets visitors at the Hong Kong Disneyland park. [Photo/China Daily] SHANGHAI - Mickey Mouse and chums have come one step closer to their new home in Shanghai, with Walt Disney Co signing a deal with its Chinese partner to build the ...

Metal miner targets US for investments

BEIJING - China Nonferrous Metal Mining (Group) Co Ltd, the country's major metal miner, will launch an investment project in the United States in the first half of next year, marking its expansion into the world's largest economy. "And if there are opportunities, we will invest ...

Experts call for tougher laws about competition

BEIJING - Experts have warned of a possibly worsening business environment as vicious competition is increasing in some industries. They suggest the country revise its competition laws and strengthen administrative supervision over the market to deal with the trend. When many ...

China to buy 102 Airbus planes

Netizens give QQ thumbs down According to the agreement China Aviation Supplies Holding Company (CASHC) signed with Airbus, 66 of the 102 planes are new orders. Of the 66 new orders, 50 are for A320 series planes while six are for A330 planes and 10 are for A350XWB aircraft. An ...

China Vanke says Oct property sales more than double

Netizens give QQ thumbs down The country's top developer recorded sales of 86.93 billion yuan for the first 10 months of the year, it said in a brief statement to the Shenzhen Stock Exchange. China Vanke said it had added three new projects in October. The company's yuan...

Restructure to create retail giant

Pedestrians pass the Shanghai Bailian Group's No 1 department store in Shanghai. [Photo/China Daily] Latest move to help parent Bailian Group 'face foreign competition' SHANGHAI - Shanghai Bailian Group, China's biggest retailer, has stepped up its corporate restructuring by ...

China Great Wall Industry Corp agrees to buy 20 rockets, 8 satellites

ZHUHAI - China Great Wall Industry Corporation (CGWIC) agreed Tuesday to buy 20 rockets and eight telecommunications satellites from two Chinese technological institutes Tuesday. New energies to lead copper growth.

POSCO to build galvanised steel plant in China

South Korea's POSCO, the world's No 3 steelmaker, said on Tuesday that it plans to build a steel galvanising plant in China with an annual output capacity of 450,000 tons. New energies to lead copper growth>
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