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COFCO to buy more overseas vineyards

A worker in a temperature-controlled wine cellar in a supermarket in Shanghai. China's wine production is expected to reach 2.2 billion liters in 2015, compared with 1.09 billion liters last year, according to industry data. [Photo / China Daily] Foreign expansion will help it ...

Infinity focuses on tech transfers

BEIJING - The Israeli investment giant Infinity Group said it will continue to focus on technology transfer to succeed in the fierce private-equity (PE) market. "We buy technologies from Israel and license them in China," said Amir Gal-Or, Infinity Group managing director and ...

Atlas Iron seeks Chinese partners

Atlas Iron Ltd, the fourth largest Australian iron ore producer, said it has been seeking Chinese investors, 21st Century Business Herald reported Thursday. Atlas Chairman David Flanagan told the newspaper that the company has first-level magnetic iron mining resources and is ...

Aedas hitches growth plan to China's high-speed rail

SHANGHAI - Aedas Ltd, a leading architectural design company, is targeting the Chinese market as part of an expansion strategy that will take advantage of the opportunities provided by the country's investment in high-speed rail, Ken Wai, managing director of Aedas China, said on ...

Invista doubles Foshan capacity

FOSHAN, Guangdong - US-based Invista Inc, one of the world's leading integrated suppliers of polymers and fibers, put into operation the second-phase project of its spandex production base in the Pearl River Delta city of Foshan. Involving a capital input of $99.6 million, the ...

Golden arches cooks up long-term strategy

SHANGHAI - McDonald's Corp said on Wednesday that it plans to hire 50,000 new employees in China, as the company steps up its expansion in the country, where competition among fast-food chains is growing. The hiring spree is five times more than the 10,000 employees McDonald's ...

Yum! makes offer to buy out Little Sheep Group

Both companies said discussions are currently at a preliminary stage SHANGHAI - Yum! Brands Inc, the world's largest catering chain group, announced on Tuesday the submission of a preliminary bid to acquire a majority stake in the Chinese hot-pot restaurant Little Sheep Group Ltd...

Huawei Starts Manufacturing Operation in India

Chinese telecom gear maker Huawei Technologies has already kicked off the production of optical network transmission equipment in a plant in Chennai of South India, said Justin Chen, CEO with Huawei Technologies India Pvt. Limited on Wednesday night. Chen said the plant also ...

Apple Sells White iPhone 4 in China

Apple now says its white iPhone 4 will be available in nearly 30 countries and regions, including China, Thursday. This comes some 10 months after the black model hit the market. The iPhone 4 first went on sale on in June. Apple had planned to provide both white and black models ...

CNOOC Ltd.Says Q1 Revenue Up 60 pct

China National Offshore Oil Company Limited (CNOOC Ltd.), the nation's largest offshore oil and gas producer, announced Wednesday that its sales revenue jumped by almost 60 percent in the first three months driven by soaring output and prices. The unaudited revenue totaled 48.51 ...

Innovation Key to Chinese Sustainable Enterprises

By Chu Daye Innovation is the key for Chinese sustainable enterprises in gaining a strong foothold in tomorrow's green economy, experts said at a forum held in Beijing. Over a dozen scholars, leaders of green technology firms and NGOs from home and abroad gathered and brainstorme...

Nokia to Cut 7,000 Jobs by End of 2012

Mobile phone manufacturer Nokia said Wednesday it will cut 7,000 jobs worldwide through layoffs and outsourcing and shutter its Danish research and development site by the end of 2012. About 4,000 of the layoffs, due by the end of 2012, would take place in Denmark, Finland and ...

China's Haier Q1 Net Profit Up 47.17 pct

Haier Group, one of the world's leading white goods and home appliances makers, announced Wednesday that its first quarter net profit jumped 47.17 percent year on year to 531 million yuan (81 million U.S. dollars). In a statement filed to the Shanghai Stock Exchange, Haier said ...

COSCO to resume port investments

A China Ocean Shipping Group Co (COSCO) container being loaded onto a ship at a container terminal in Tokyo. The Chinese shipping company said it is the right time to buy ports while prices are good. [Photo / Agencies] Container-shipping giant aims at the development of growing ...

Growing concern over school milk program

Kindergartners in Zhuhai, Guangdong province, are treated in March 2008 after drinking contaminated milk. The company that provided the milk was not qualified for the school milk program but was a longtime supplier. [Photo / China Daily] A parent checks the labeling on a carton ...

Huarong's net profits up 165% in Q1

BEIJING - The China Huarong Asset Management Corporation (Huarong) announced Wednesday that its first quarter net profits for 2011 surged more than 165 percent year-on-year. The company's net profits went up 165.66 percent from a year earlier to reach 850 million yuan ($128.8 ...

CNOOC Q1 revenue up 60%

BEIJING - China National Offshore Oil Company Limited (CNOOC Ltd), the nation's largest offshore oil and gas producer, announced Wednesday that its sales revenue jumped by almost 60 percent in the first three months driven by soaring output and prices. The unaudited revenue ...

Companies to boost overseas investment

Survey: Sharp rise in firms planning more spending in foreign markets BEIJING - Almost 90 percent of domestic companies involved in international trade plan to increase overseas investment, a survey reveals. Of the 1,024 companies surveyed, about 88 percent said they want to ...

Profits of industrial firms up 32% in Q1

BEIJING - Profits of China's industrial enterprises jumped 32 percent year-on-year for the first three months this year, China's National Bureau of Statistics (NBS) said Wednesday. Combined profits of the industrial firms, those with annual sales exceeding 20 million yuan ($3.07 ...

Haier Q1 net profit up 47.17%

BEIJING - Haier Group, one of the world's leading white goods and home appliances makers, announced Wednesday that its first quarter net profit jumped 47.17 percent year-on-year to 531 million yuan ($81 million). In a statement filed to the Shanghai Stock Exchange, Haier said its ...
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