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Wenzhou Credit Crisis Eases up: Wenzhou's credit crisis is under control and some of its closed enterprises have recovered operation. The city government promised to introduce more measures to improve the financial situation in Wenzhou a month after Premier Wen's visit. According to the statistics released by ...

Bank of China Faces Challenges, Opportunities as SIFI: Bank of China(BOC) is facing both challenges and opportunities after being named one of the systemically important financial institutions (SIFIs) by the Financial Stability Board(FSB), said bank officials and economists. The list of 29 SIFIs was announced Friday in Cannes, France...

US Discount Clothing Chains File for Bankruptcy: U.S. discount clothing chains Filene's Basement and its parent company Syms filed for bankruptcy protection Wednesday in the face of the challenging economic downturns. "We have been faced with increased competition from large department stores that now offer the same brands as ...

PetroChina Climbs into World's Top 5 Energy Ranks: Chinese oil giant PetroChina came in the fourth place in a ranking of world's top 250 energy companies unveiled on Wednesday evening, making it the first Asian firm to join the top five ranks. The 2011 Platts Top 250 Global Energy Company Rankings was compiled by energy ...

Oil, gas resource tax rate set at 5% of sales: China will levy a resource tax on crude oil and natural gas products at 5 percent of sales nationwide starting from Tuesday, the Ministry of Finance said Monday. The ministry also released specific resource tax rates on a variety of other commodities, including iron ore, coking ...

Apple iPhone 4S to Arrive in China's HK, S.Korea: Apple announced on Tuesday that its latest iPhone 4S smartphone will be available in China's Hong Kong, South Korea and 13 additional countries next Friday. Customers will be able to pre-order iPhone 4S beginning this Friday, the Cupertino, California-based company said in a ...

Yahoo to Acquire Interclick for $270 mln: Yahoo, which has been rumored to sell all or part of its business, announced on Tuesday that it is buying data-driven advertising network Interclick for around 270 million U.S. dollars. Interclick is a technology company providing data targeted solutions and optimization ...

GM Sells 186,895 Vehicles in October, up 2 pct: The leading U.S. automaker, General Motors Co., on Tuesday announced that it sold a total of 186,895 vehicles in October, up two percent from the same period of last year. The brand breakdown showed that GM's best-seller Chevrolet rose six percent in the month, while GMC, Buick ...

Qantas Says Ten Flights to Depart from Singapore by Monday: Australian flagship carrier Qantas Airways has said that some ten flights will depart from Singapore's Changi Airport by the end of Monday. Stranded passengers formed long queues at the service counters of Qantas, which has eight service counters opened to cater to the passengers ...

Changhong on the Way to Expanding its Overseas Market: This year marks the tenth anniversary of China's entrance into the World Trade Organization (WTO). China has made remarkable progress over the past ten years, becoming the world's largest exporter and the second largest importer. However, as hard economic power grows, Chinese ...

China sets oil, gas resource tax rate at 5 percent of sales: China will levy a resource tax on crude oil and natural gas products at 5 percent of sales nationwide starting from Tuesday, the Ministry of Finance said Monday. The ministry also released specific resource tax rates on a variety of other commodities, including iron ore, coking ...

Non-state Companies Venture Abroad: A rising number of Chinese non-State companies are preparing to invest abroad, relying on a combination of innovation and manufacturing strength. Some top non-State companies exchanged views on their "go global" strategies in Zhuhai, Guangdong province, over the weekend. "Chinese ...

FAW Car Reports 49.86m Yuan of Net Loss in Q3: FAW Car Co., a unit of one of China's three largest auto makers, reported Sunday a net loss of 49.86 million yuan (7.88 million U.S. dollars) in the third quarter of this year because of slowing sales in the world's largest auto market. Sales revenue declined 25.38 percent year...

Whirlpool to Cut Over 5,000 Jobs: Whirlpool Corp., the world's leading maker of household appliances, announced Friday it would cut more than 5,000 jobs to reduce costs. Whirlpool's net earnings in the third quarter were 177 million U.S. dollars, up from 79 million dollars during the same period last year, the ...

Google Partners with 14 Discount Deal Providers: Google on Thursday announced new partnerships with over a dozen daily deal providers, in a move to broaden its online discount deals offerings. The partners include Dealfind, DoodleDeals, Gilt City, GolfNow, HomeRun, Juice in the City, kgbdeals, Mamapedia, Plum District, PopSugar ...

BOJ Cuts Growth Forecast: The Bank of Japan (BOJ) on Thursday opted to ease its monetary policy and expand the size of its asset buying program to help support the nation's economy, which is struggling under the persistent strength of the yen. The BOJ said at the conclusion of its one-day policy meeting ...

BYD Launches First All-electric Car to Private Buyers: Chinese car maker BYD has made its first all-electric car available to private buyers in China. The BYD e6 is now available in Shenzhen. It retails for roughly 300-thousand yuan. However, buyers of the BYD e6 are eligible for up to 120-thousand kuai worth of subsidies. The five...

Magna Sets Up New Facility in N China: Magna International, the world's third largest auto parts maker, has continued to expand in China with the construction of a new manufacturing facility in northern China's Tianjin municipality, local authorities said Tuesday. Construction of the new facility owned by Magna ...

Firms ponder a return to Libya: After the death of ousted leader Muammar Gadhafi in Libya, opinions are divided about the timing for Chinese companies to return to the oil-dependent North African country. According to a report in People's Daily, China's communications giants Huawei Technologies Co Ltd and ZTE ...

Tax reform won't affect oil price: authorities: The reform of China's resource tax will not impact China's domestic prices for oil and natural gas, the Ministry of Finance (MOF) and the State Administration of Taxation said Monday. China's pricing mechanism for oil products is mainly based on the international oil price trend, ...

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China's farm product pricing plan shifts to market orientation: The Number One Document also proposed a new pricing plan for China's ...

IMF chief warns of risks to recovery: DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...

GM China chairman to retire: CHICAGO, Jan. 24 (Xinhua) -- General Motors Co. announced Friday that ...

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Minivans rev up sales for GM: Sales of General Motors and its Chinese ventures accelerated in ...

Court rejects Apple lawsuit over iPad name: Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...

Chinese leader calls for more marine power: Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...

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Lucrative golf industry lures stiff competition: Two models stand beside golf equipment and bags at a recent golf ...

Yao's gift of sport for all: Chinese NBA player Yao Ming teaches a boy with special needs how to ...

Fourteen countries expected to compete in Cuba's wrestling tourney: Some 14 countries and regions are expected to compete in the 45th ...

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