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Sinopec suspends diesel exports amid domestic market shortage

BEIJING - China Petroleum and Chemical Corporation (Sinopec), China's largest oil refiner, said Friday it has suspended diesel exports to relieve shortages in the domestic market. Sinopec also said it is seeking to import 200,000 tons of diesel. PetroChina Co, China's largest oil ...

Ping An's general manager resigns for 'personal reason'

HONG KONG - Zhang Zixin, general manager of Chinese Ping An Insurance, the country's second largest insurer, has tendered his resignation for "personal reason" and his term of office will end on March 18 of 2011, the insurer said late Friday in a statement. In a filing to the ...

China moves fast toward green growth: CEO of Danfoss

COPENHAGEN - China is moving very fast toward green economic growth, Niels Bjoern Christiansen, president and chief executive officer of Danfoss, a Denish industrial-controls company which has made China one of its core markets, told Xinhua News Agency in an interview. During the ...

Dow Chemical looks for China growth catalyst

SHANGHAI - The Dow Chemical Company will invest in medium and small-scale facilities in China over the next four to five years, said Andrew N. Liveris, chairman and chief executive officer of the company. He added that the company will also continue to monitor progress at its ...

Maternity dress firm plans IPO

Company employees show a cellphone specially designed for pregnant women at a baby supplies and childrens' necessities expo in Beijing. [Photo/China Daily] Shanghai UKI aims for stock to be listed on market within three years BEIJING - The maternity dressmaker Shanghai UKI ...

Rich 2nd generation waiting in the wings

WENZHOU, Zhejiang - Yu Yizhou is a good-looking man who could pass off as a film star. Indeed, he wanted to get into movies, by studying film production in Britain, but his parents refused to pay his tuition fees, and would only agree to him enrolling in a business school. The ...

Chinese airlines to face huge carbon bills from EU

China's civil aviation industry might have to pay 800 million yuan ($120 million) in carbon credits to the European Union (EU) in 2012 for carbon emissions, Economic Information Daily reported Friday, citing officials. Beginning Jan 1, 2012, the EU will allocate the carbon ...

Sharp denies it plans 10G LCD plant in China

Sharp says still negotiating on existing China panel plan TOKYO - Japan's Sharp Corp denied a newspaper report on Friday that it was planning to build a state-of-the art 10th generation liquid-crystal display (LCD) panel plant in China. It was reported that Sharp was upgrading an ...

Singaporean firms see China as top market

SINGAPORE - Local and foreign firms in Singapore say China and Singapore are their two top markets for the next 12 months, local media reported on Thursday. Singapore narrowed the gap with China to just one percentage point this year as financial and business services preferred ...

China's GCL enters US solar power-plant business

A subsidiary of China's GCL-Poly Energy Holdings Ltd has formed a joint venture with SolarReserve, a California developer, to build photovoltaic power plants in the United States. The deal marks a major bid by a Chinese solar company to enter a market dominated by European and US ...

$1.8b silicone production facility launched

A Dow Corning booth at an industry exhibition in Shanghai. [Photo / China Daily] ZHANGJIAGANG, Jiangsu - China's largest silicone production base became operational in Zhangjiagang on Thursday to serve fast-growing demand for the material in the country and throughout Asia. The ...

Q3 profit increases at China Resources

HONG KONG - China Resources Enterprise Ltd, the Chinese government-backed partner of SABMiller Plc, reported third-quarter profit grew 1.4 percent. Net income in the three months ending September rose to HK$1.06 billion ($136 million) from HK$1.04 billion a year earlier, China ...

Air China to buy 20 Airbus planes for about $4.5b

HONG KONG - Air China, the country's leading carrier, said late Thursday that it would pay $4.5 billion to buy 20 Airbus planes. In a statement filed to the Hong Kong Stock Exchange, the Beijing-based carrier said Air China and its import agent AIE had entered into the agreement ...

China Gold International to raise $250-300m

China Gold International Resources Corp Ltd on Monday said it will raise $250-$300 million through a global offering and intends to list on the Hong Kong Stock Exchange. New energies to lead copper growth>

Calm waters ahead for Qingdao Port expansion

A dockworker stands in the Qianwan container terminal of Qingdao Port in Shandong province. Qingdao Port (Group) Co Ltd plans to considerably expand facilities to enable it to surpass Busan Port in South Korea. [Photo/Bloomberg] Group plans massive investment to expand oil and ...

AVIC signs agreement to deliver eight aircraft to African nation

BEIJING - AVIC (Aviation Industry of China) International Holding Corp, an import and export subsidiary of China Aviation Industry Corp, said it has signed an agreement to deliver eight aircraft to the Democratic Republic of the Congo (DRC). The aircraft, which will be delivered ...

Train merger stays on track

A man looks at China's home-built bullet train that set an operating speed record of 486.1 km per hour during a test run on the Beijing-Shanghai line. The bullet train is made by China South Locomotive & Rolling Stock Industry Group Corporation. [Photo / China Daily] BEIJING - ...

Airline IPO prepares for HK take-off

A ticket office of Hainan Airlines in Haikou, Hainan. Grand China Airlines owns 41.6 percent of Hainan Airlines and plans to increase its presence in the regional air market. [Photo / China Daily] BEIJING - Grand China Airlines, the flagship of the country's fourth-largest ...

Zhenjiang vinegar wins South Korea trademark wrangle

Visitors to a vinegar museum in Zhenjiang, a city in Jiangsu province renowned for the product. [Photo / China Daily] South Korean firm thwarted in its attempt to register popular name After half a year of effort, the Zhenjiang Vinegar Association has prevailed in a cross-border ...

Moutai uncorks plans for output, revenue

A saleswoman holds a bottle of liquor produced by Kweichow Moutai Co Ltd. Since the liquor is considered one of China's top brands, prices and demand for the liquor have jumped in response to shortages ahead of the Spring Festival. [Photo / China Daily] As Spring Festival nears, ...
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China's farm product pricing plan shifts to market orientation
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GM China chairman to retire
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