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Chinese workers now showing less interest in foreign employment SHANGHAI - With the growth of the national economy and the continuous development of Chinese enterprises, more middle- and high-level professionals in China now prefer to work for domestic companies rather than ...

Jahwa rejects LVMH acquisition report

SHANGHAI - Shanghai Jahwa United Co Ltd on Wednesday rebuffed media reports that it could be acquired by the French luxury brand LVMH Group, reiterating the line that the State-owned cosmetics manufacturers will keep its domestic tag in its planned share sale. Ge Wenyao, Jahwa's ...

Volvo Recalls 2337 Imported Vehicles in China

Volvo began recalling 2,337 vehicles in China on Wednesday to fix problems that could pose safety risks, China's quality watchdog said. The recall affects 280 imported XC60 vehicles and 318 imported S60 autos manufactured between Jan. 20 and Jan. 28, 2011, as well as 1,739 ...

Guochuang FOF's Venture Capital Investment Plan Disclosed

China's first national-level yuan-denominated fund of funds (FOF) -- Guochuang FOF -- will make venture capital investment totaling 670 million yuan (about 104 million U.S. dollars). The planned venture capital investment will go into four other yuan-based funds, announced Yuanhe ...

Nanning Baling becomes 1st failed IPO in China

Nanning Baling Technology Co has become the first company in the 20-year history of the Chinese stock market to scrap its initial public offering after the formal launch after failing to draw sufficient interest from institutional investors,the Shanghai Securities News reported. ...

Designed in Japan, but made in China

BEIJING - China is likely to see a new wave of Japanese companies transferring their domestic production lines to the country, as a result of the devastating earthquake and tsunami in March. That's according to Dai Hakozaki, the deputy director general of the Japan External Trade ...

China Vanke property sales up 76% in May

China's Vanke, the country's largest developer by sales, said its May property sales jumped 76.4 percent from a year earlier to 9 billion yuan ($1.4 billion), rebounding from a slump the previous month. Sales growth slowed to just 1.3 percent in April, down from 47.8 percent in ...

China should abandon energy intensive growth mode

Data released by the Bureau of Economic Operation Adjustment under the National Development and Reform Committee on June 1 has shown what is behind the tension between supply and demand in regard to coal, electricity, oil and gas. The bureau warns that China should no longer take ...

Disney Studios to Cut up to 250 Jobs Globally

Walt Disney Studios plans to cut up to 250 jobs which comprise five percent of its worldwide workforce, it was reported on Tuesday. The cuts would take effect as early as next week and the bulk of the workforce reduction will be in Burbank near Los Angeles, company insiders were ...

Sina to Launch English Microblog

China's Sina Corp will launch an English version of its microblog, Weibo, by the end of the year for overseas users, a company spokesman said on Tuesday. Sina's Chinese-language Weibo product was launched about two years ago and claims more than 140 million users. Sina's ...

Textile Industry Rues Cotton Price Volatility

The volatile price of cotton is making times harder for China's textile industry, which has already been squeezed by higher labor costs and the appreciation of the yuan. Many textile makers, especially smaller concerns, increased their stock of the raw material last year to hedge ...

Jushi to establish overseas factory

TONGXIANG, Zhejiang - Jushi Group Co Ltd, the world's largest manufacturer of fiberglass by output, plans to establish its first overseas production base in North Africa in the second half of this year. The move is a bid to boost overseas expansion and resist trade protectionism, ...

Pharmaceutical factory blamed for stench in air

BEIJING - A major drug maker in Northeast China stands accused of seriously polluting its environs and of violating regulations that set limits on discharges of pollutants, CCTV, the State broadcaster, reported on Sunday. The report said the pharmaceutical factory has not done ...

ABB, Schneider bid for China cleantech firm

Engineering companies ABB Ltd and Schneider Electric are among second-round bidders for a private equity-owned China cleantech asset that could fetch as much as $700 million, three sources with direct knowledge of the matter said. The sources told Reuters Switzerland's ABB and ...

Gartner aims for revenue gains in Chinese market

BEIJING - Gartner Inc, a US-based information technology research and advisory company, aims to triple its revenue in the Chinese market to $30 million by 2013, according to the company's China president. The target reflects the IT consulting giant's hopes of further shaking off ...

Q+ Seeks to Cement Tencent Position

Tencent, China's largest Internet company, is adding an array of enhanced services to its core QQ instant messaging site after data showed the amount of time users spend chatting online is slipping. Tencent unveiled its Q+ desktop software last year, offering online video ...

Baosteel reports pollution reductions

BEIJING - The Baoshan Iron and Steel Co Ltd (Baosteel), a leading Chinese steel maker, has said its pollution to the environment has fallen sharply during the past five years. A company statement said the company's sulfur dioxide emissions in 2010 had fallen by 63 percent from ...

Chinese plane maker to sell 2 jets to Myanmar

BEIJING - The Commercial Aircraft Corporation of China (COMAC), a state-owned aircraft manufacturer, has signed an agreement to sell two ARJ21-700 aircraft to the Myanmar Airways, a statement from the country's state-assets supervisor said. The value of the deal was not revealed ...

China Unicom to help digitize Sichuan

BEIJING - China Unicom, one of the country's major wireless and internet services providers, has said it will help push forward the digitization in southwestern Sichuan province in the next five years. In a cooperative framework agreement signed between the company and the ...

Cargotec to set up global center in Singapore

Cargotec, the world's leading provider of cargo handling solutions, will establish a global competence center for container terminals development in Singapore, the company said in a press release on June 1. The move will further strengthen its ability to provide total solutions ...
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