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Angang Steel cuts main product prices for May

China's major steelmaker Angang will cut its main steel product prices for May bookings, traders said, in a move seen reflecting a short-term trend. The company will drop hot-rolled coil prices by 200 yuan ($30.616) per ton and cold-rolled coil prices by 480 yuan per ton for May. ...

Boeing's new China plant to be operational in 2013

BEIJING - The China office of US aircraft manufacturer Boeing said Monday that an expansion of its China venture in north China's port city of Tianjin will be operational in 2013. The $21-million project will double the size of Boeing Tianjin Composites Co Ltd, a joint venture ...

Sky's the limit for privately hired aircraft

Number of planes expected to soar as restrictions end BEIJING - Low-altitude airspace will be opened for private flights in five to 10 years but industry insiders are reluctant to predict how many will be taking advantage of it, although they agree numbers will shoot up. "You ...

Aircraft sales to shoot skyward

Chinese movie actor Huang Bo in a small aircraft. Huang, who became popular through his performance in the film Crazy Stone, was invited to be the face of a private flight training organization at the China International Aviation and Aerospace Exhibition in Zhuhai, Guangdong ...

Toothpaste maker's 2010 profit down 35%

BEIJING - Liuzhou Liangmianzhen, one of China's leading makers of oral hygiene products, posted on Sunday a decline of 35 percent in net profit in 2010 on soaring costs and fierce competition. Net profit totaled 10.83 million yuan ($1.66 million), and earnings per share stood at ...

China's leading seed provider posts 168.7% jump in profit

BEIJING - Gansu Dunhuang Seed Co Ltd, one of China's leading seed producers and providers, on Friday posted a 168.7 percent year-on-year net profit increase in 2010 based on soaring seed prices. Net profit totaled 80.69 million yuan ($12.36 million), and earnings per share stood ...

Faced with Delisting, TCM Firm Tries to Survive EU Ban

The Foci Pharmaceutical Company, based in the city of Lanzhou in Gansu Province, is applying for the Swedish drug administration to authorize of one of its products, a pill-form of concentrated Chinese angelica. As the world's biggest herbal medicine market, the European Union ...

COFCO, Keystone to expand distribution network in China

BEIJING - COFCO, China's State-owned food processing group, sealed a deal with US meat supplier Keystone on Friday to set up a joint venture in China to develop logistics systems in the growing market. The joint venture, COFCO Shitong Supply Chain (China) Investment, plans to ...

China Credit Rating to Charge for Rating Service

China Credit Rating Co., Ltd., the country's first rating agency to charge investors, said Friday it signed agreements with 17 financial institutions, including China Development Bank and Agricultural Bank of China, to provide credit rating services. According to the agreements, ...

Volvo Recalls 82 Faulty Trucks in China

Volvo (China) Investment Co., Ltd. will recall 82 of its imported trucks on the Chinese mainland starting on Friday due to defects in their steering system, China's quality watchdog said on Friday. The recall will involve imported FM, FH and FE trucks manufactured between Nov. 29...

Google's Quarterly Earnings Rise, but still below Estimates

Google Inc. on Thursday reported that its first-quarter net income increased by 18 percent compared to the same period of last year, but the number is still below analysts' estimates. The Internet search giant's net income was 2.3 billion U.S. dollars, compared to nearly 2 ...

Top Shipbuilder Posts 4.32 pct Rise in Profit

China State Shipbuilding Corporation (CSSC), the country's largest shipbuilder, posted Friday a 4.32 percent year-on-year increase in net profit in 2010 on robust growth in revenues. Net profit totaled 2.61 billion yuan (about 399 million U.S. dollars), and earning per share ...

Foxconn Says Looking at Investment Opportunities in Brazil

IPhone maker Foxconn is now said to be looking at investment opportunities in Brazil. Foxconn has now confirmed an earlier statement by Brazilian President Dilma Rousseff, who says the company is considering investing 12 billion US dollars in Brazil. Foxconn now says Brazil is ...

Top shipbuilder posts 4.32% rise in profit

BEIJING - China State Shipbuilding Corporation (CSSC), the country's largest shipbuilder, posted Friday a 4.32 percent year-on-year increase in net profit in 2010 on robust growth in revenues. Net profit totaled 2.61 billion yuan ($399 million), and earning per share stood at 3...

China's mining project put into operation in Myanmar

TAIYUAN - The Myanmar Taguang Taung Nickel Ore Project Mining System, with joint investment from China Nonferrous Group and Taiyuan Iron and Steel (Group) Co Ltd (TISCO), has been put into operation, authorities said Friday. The project's smelting system will be put into ...

Evergrande stock continues to advance on Q1 figures

The Evergrande Real Estate Group booth at a property expo in Beijing. The company's contracted sales rose 50 percent in March to 5.5 billion yuan ($842 million) from last year. [Photo / China Daily] Real estate group's sales more than doubled to 20b yuan in that period BEIJING - ...

Roche sees new Shanghai center one of its hubs

SHANGHAI - Swiss pharmaceutical giant Roche Group said that it will make Shanghai its third strategic operations center in the world, after Basel, Switzerland, and San Francisco in the United States. The company announced completion of the Roche Shanghai expansion (RoSE) project ...

China COSCO still planning group listing

SHANGHAI - China COSCO Group, the country's top shipping conglomerate, is still working on plans for a group listing, the Shanghai Securities News said on Friday, citing a top executive, though no timetable was given. A listing of State-owned COSCO Group, the parent company of ...

Vantone to invest 15b yuan in commercial property ventures

Beijing - Vantone Real Estate Co Ltd, a leading property developer based in Beijing, plans to invest 15 billion yuan ($2.27 billion) over five years to develop commercial properties, according to the company's top management on Thursday. "We will develop more than 1 million ...

Volvo Penta to plunge into segment

A yacht moored at the Olympic Sailing Marina in Qingdao, Shandong province. Volvo Penta, Europe's largest industrial and marine power system provider, targets China's emerging pleasure boat market as its new engine for growth.[Photo / Agencies] SHANGHAI - Volvo Penta, Europe's ...
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