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Geely raises 1b yuan through bond sale

HANGZHOU - China's Geely Automobile has raised 1 billion yuan ($153.8 million) through a corporate bond sale aimed at financing the carmaker's development of core technologies on auto parts and auto electronic systems, company officials said Thursday. The fund-raising was a ...

China Exim Bank aims to be multinational

BEIJING -- The Export-Import Bank of China, one of the country's three policy banks, said on Thursday that it intends to develop itself into a large multinational financial institution over the next five years. The lender's total assets exceeded 1 trillion yuan ($153.85 billion) ...

China to release self-developed aircraft engine

SHANGHAI -- An overall design plan for an indigenously developed large passenger-jet engine is expected to be released by the end of the year, the Commercial Aircraft Corporation of China (COMAC) confirmed Thursday. Trials of prototype components of the engine had already taken ...

Sports apparel maker to redefine 'athlete'

SHANGHAI - Under Armour Inc, a US maker of sports clothes and accessories, is beginning to test the waters in the Chinese market while planning to give Chinese consumers a broader definition of what constitutes an athlete. In April, Under Armour opened a store bearing its brand ...

China's CAS and ICBC Leasing buy 88 A320 aircraft

China Aviation Supplies Holding Company (CAS) and ICBC Financial Leasing Co Ltd (ICBC Leasing) have signed agreements with Airbus for a total of 88 A320 Family aircraft. CAS's General Terms Agreement (GTA) with Airbus for the 88 airplanes was signed recently in Berlin by Li Hai, ...

Moderating oil prices to ease imported inflationary pressure

Together with the International Energy Agency's (IEA) strategic oil release, China's move to cut fuel import tariffs will help reduce oil prices and ease imported inflationary pressures, the Shanghai Securities News quoted experts as saying Wednesday. The Ministry of Finance ...

Daimler to Invest 2 bln euros to Expand Its Chinese JV

German auto giant Daimler AG has snow igned an agreement with its Chinese partner, Beijing Auto, to invest 2 billion euros into their joint venture in China. The new investment will allow Mercedes to expand production of its compact luxury SUVs. The money will also be used to set ...

Suning Will Take over Laox as Part of Big Expansion Plan

Suning Appliance Co Tuesday announced it will take majority control of Japanese electronics retailer Laox and open 150 Laox Life outlets in China in the next five years. Laox will issue 9 billion yen (US$111 million) worth of 257 million new shares through a private placement to ...

China's 2nd west-east gas pipeline can start operation at June end: CNPC

The trunk line of China's second West-East natural gas pipeline project will be ready to start operating at the end of this month, an official with China National Petroleum Corporation (CNPC) said Wednesday. Eight sub-lines are scheduled to be completed by June of next year, Liao ...

Suning to raise stake in Japan's Laox

BEIJING - Suning Appliance Co, China's largest consumer electronics retailer, announced Tuesday it will raise its stake in Laox Co, a Japanese home appliance chain, to 51 percent. It will be the first Chinese company that holds proprietary in a Japanese firm after the deal is ...

Corning sets up research center on mainland

SHANGHAI - Corning Inc started its first joint venture laboratory on the Chinese mainland on Tuesday in partnership with a well-known ceramics institute in Shanghai. "The joint research facility is aimed at exploring technologies to support the development of future Corning ...

Google Introduces New Social Networking Service

Google on Tuesday rolled out a new social networking service named "Google+", a long awaited move of the Internet search giant to crack the industry's social trend dominated by Facebook. Unlike Facebook, Google said that the project is designed for sharing with small groups like ...

Coca-Cola price hike won't affect China

A US price hike by soft drink giant Coca-Cola won't affect Coca-Cola prices in China, China Business News reported Tuesday. "Our companies have comprehensive price strategies for the Chinese market, and each bottler will set a price in accordance with the local market," the ...

Sun Art plans to raise $1b Hong Kong IPO

Sun Art Retail Group Ltd, the Chinese hypermarket operator backed by France's Groupe Auchan SA, plans to raise as much as HK$8.2 billion ($1.1 billion) in a Hong Kong initial public offering. The Shanghai-based company, which counts Wal-Mart Stores Inc (WMT) among its competitors...

CCB to sell Baogang Group shares

China Construction Bank's Inner Mongolia branch offered to sell the bank's 5.63 percent holdings of Baotou Iron and Steel (Baogang Group) for 715 million yuan ($110.4 million), Shanghai Securities News reported Tuesday. The announcement represents the second time the bank has ...

Chinese profit growth slows

BEIJING - The profit growth of Chinese industrial companies has slowed after the government tightened credit to curb inflation and prevent asset bubbles. Net income rose 27.9 percent in the first five months from a year earlier to 1.92 trillion yuan ($297 billion), the National ...

UnionPay expands in Taiwan for tourism program

BEIJING -- China UnionPay (CUP), a bank card services provider, said Monday it has reached an agreement with Taiwan-based Financial Information Service (FISC) to further expand the acceptance of CUP bank cards in Taiwan. According to the agreement between CUP and FISC, CUP bank ...

Ministry OK's Diageo takeover of local liquor company

CHENGDU -- China's regulatory body has approved British drink giant Diageo's acquisition of additional shares to become the controlling shareholder of one of the best-known Chinese liquor brands. The Ministry of Commerce approved the transfer of shares of four percent from ...

Spat between Visa, China UnionPay spills into BC Card

SEOUL -- The world's largest payment network Visa has been in a one-year-long battle with China's biggest electronic payment network China UnionPay over royalty payments. The battle is poised to enter a new phase as South Korea's leading credit card firm BC Card plans to file a ...

ZTE to Start Producing Tablets in Brazil

Chinese technology company ZTE will start producing tablets in Brazil in August, the company's Chairman, Hou Weigui, announced on Monday. "We have made partnerships with local factories for the local production of tablets in August," he said during a meeting with Brazilian ...
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China offers inspirations to global dilemmas
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Bill Gates talks nuclear
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China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
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China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
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IMF chief warns of risks to recovery
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GM China chairman to retire
GM China chairman to retire
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Minivans rev up sales for GM
Minivans rev up sales for GM
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Court rejects Apple lawsuit over iPad name
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Chinese leader calls for more marine power
Chinese leader calls for more marine power
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Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
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Yao's gift of sport for all
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
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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