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CIC considers new-capital mechanism revamp

BEIJING - China Investment Corp (CIC), the country's $300 billion sovereign wealth fund (SWF), is considering setting up a mechanism for continued new capital, as the country accumulates foreign exchange reserves, said a senior executive on Thursday. Jin Liqun, chairman of CIC's ...

Boeing's new N China factory gets green certification

TIANJIN -- Boeing's recently expanded factory in Tianjin has been recognized for meeting environmentally-friendly standards set by two internationally-known organizations, said the general manager of Boeing Tianjin Composites. The new facility, located in China's northern ...

US companies eye Chinese market for growth

BEIJING -- "The Chinese market is one of the most important markets to Procter & Gamble in our global development range," Shannan Stevenson, P&G's President-Greater China, said in an interview with Xinhua. Earlier this month, the company started construction on its 10th plant in ...

Survey fund helps locate 50 major mines in China

BEIJING -- Fifty major ore fields have been found over the past four years since China set up a special fund to help geologists survey the country's minerals amid growing demands for resources, an official who manages the fund said Wednesday. Cheng Liwei, director of the China ...

Sanofi supports diabetes plan

Sanofi SA, the maker of the Lantus diabetes medicine, will support a five-year plan by China's health ministry on diabetes management, the Paris-based drugmaker said. A program led by China's Center for Disease Control aims to train 500 diabetes specialists, and ensure 10,000 ...

Eaton predicts business boost through OEM

A full-scale model of the COMAC C919. The joint venture between Eaton Corp and Shanghai Aircraft Manufacturing Co Ltd will focus on design and production of fuel and hydraulic conveyance systems for the C919. [Photo / Agencies] Aircraft parts manufacturer eyes Chinese partnership...

Air China warns on 2011 profit

Air China Ltd, the country's flag carrier, expects its full-year net profit to fall below the 2010 level, the company's chairman said on Wednesday. Kong Dong cited high steel prices and disruption to flights to Japan in the wake of the March 11 earthquake and tsunami for the ...

Nanshan Aluminum to open US plant

BEIJING - Shandong Nanshan Aluminum Co Ltd, China's second-largest aluminum products maker, said it will invest $161 million to build an extrusion plant in the United States to further tap into the overseas market. The Nanshan facility in Lafayette, Indiana, will make high-end ...

Ex-Gome exec to sell stake

Gome Electrical Appliances Holdings Ltd, China's biggest electronics retailer, said it will take "appropriate steps" after its former chairman told a newspaper he intends to sell all of his shares in the company. Chen Xiao, who stepped down in March, told the 21st Century ...

Tencent Q1 net profit up 61%

HONG KONG -- Tencent Holdings said on Wednesday its net profit rose 61 percent to 2.87 billion yuan ($442.2 million) for the three months ended March 31, 2011. Basic and diluted earnings per share were 1.575 yuan and 1.54 yuan. Revenues amounted to 6.34 billion yuan, an increase ...

ABB benefits from green policy

A production facility for wind power equipment in Nantong, Jiangsu province. The Switzerland-based ABB Group plans to invest $100 million in China this year, as it has done in each of the past seven years. [Photo / China Daily] The Switzerland-based power giant plans more ...

China's Jiayuan.com falls on Nasdaq debut

NEW YORK -- Jiayuan.com, China's biggest dating website, fell on its first day of trading at the Nasdaq stock exchange. The Beijing-based company, known to the US investors as " China's Match.com," sold 7.1 million shares at$11 a share, the midpoint of its expected range of $10 ...

Boeing to double Chinese procurement by 2015

TIANJIN -- US aircraft maker Boeing expects to double its purchasing of raw materials and services from Chinese suppliers by 2015, said the general manager of Boeing's parts factory located in China's northern industrial city of Tianjin. Boeing Tianjin Composites Co Ltd currently ...

China's Jiayuan.com Falls in the Debut

Chinese dating website Jiayuan.com has come up short in its Nasdaq debut. The company premiered on the Nasdaq within its expected range, opening up trading at 11 dollars a share. And after a quick jump off the start of trading, ended its first session down 4.5-percent at 10...

Renren Shares Trade Below Offer Price

Shares of social China's networking site Renren have now fallen below its initial offering price of 14 US dollars, reversing all the gains it made in its market debut. Renren's shares had gained 24 percent when it debuted last week on the New York Stock Exchange. However, it has ...

Google to Launch Chrome Notebooks in June

Google on Wednesday introduced a series of notebook computers based on its Chrome operating system, stepping up its competition against Microsoft. Google unveiled the "Chromebook" at its annual developers conference in San Francisco, saying that the new devices, made by Acer and ...

Toyota to Resume Production in China in June

Toyota will resume operations in China in June, two months earlier than expected, Toyota Motor (China) Investment Co. announced Wednesday. The carmaker said a recent company-wide review indicated production would recover to normal levels in its factories in China in June. ...

Ford Recalls 6,599 Cars in China over Flawed Cables

China's quality control authorities said 6,599 Ford Mondeo-Zhisheng automobiles with defective power cables will be recalled starting Wednesday. These automobiles were produced between Feb. 14 and April 16 with defective power cables, which could heat up and release smoke due to ...

Boeing to Double Chinese Procurement by 2015

U.S. aircraft maker Boeing expects to double its purchasing of raw materials and services from Chinese suppliers by 2015, said the general manager of Boeing's parts factory located in China's northern industrial city of Tianjin. Boeing Tianjin Composites Co., Ltd. currently buys ...

P&G: Price hike 'last option'

Procter & Gamble Co products on display. An announcement by Unilever Plc regarding price increases triggered a rush on purchases of soap, toothpaste and detergent in some Chinese cities. [Photo/Provided to China Daily] Remark follows Unilever fine for fanning 'inflationary ...
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