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Zhongwang plans expansion in capacity

LIAOYANG, Liaoning - China Zhongwang Holdings Ltd, Asia's largest maker of aluminum extrusion products, aims to expand capacity to become the world's largest producer in the next two years, said a company executive on Thursday. The Liaoning-based, and Hong Kong-listed, company ...

China's Western Mining plans new copper smelter

HONG KONG - Shanghai-listed Western Mining Co Ltd plans to build a 100,000-ton-per-year copper smelter in the northern western Chinese province of Qinghai, the company said on Friday. The cost of the project was estimated at 2.28 billion yuan ($347 million), the company said in a ...

Air China to fly between Beijing, Stockholm every day

STOCKHOLM - Air China will fly between Beijing and Stockholm daily beginning March 30th, the airline says. "Air China is increasing its flights from five days a week to every day beginning at the end of the month. This is to meet the increasing demand from passengers," Yan ...

China's video websites join to screen movies online

BEIJING - Seven Chinese video-streaming websites announced plans on Thursday to group together to offer fee-based online movies as an alternative channel for watching film on the Internet. Jia Yuemin, vice president of letv.com which initiated the alliance, said that the Internet...

PetroChina sees profit up 35.4% in 2010

BEIJING - PetroChina Company Limited (PetroChina), China's largest oil and gas producer, reported Thursday that its net profit for 2010 surged 35.4 percent from a year ago. PetroChina's net profit totaled 139.99 billion yuan ($21.3 billion) and earnings per share stood at 0.76 ...

China's Hilong to postpone HK IPO

Hilong Holdings, a Chinese oil equipment manufacturer, has decided to postpone its Hong Kong IPO of up to HK$1.48 billion ($190 million) due to difficult market conditions, IFR reported on Thursday. The company originally planned to sell 400 million shares at an indicative price ...

China's GD Midea 2010 net profit up 69.24%

BEIJING - China's major home appliance maker GD Midea Holding Co Ltd posted a 69.24 percent year-on-year net profit jump in 2010. In its annual business report filed to the Shenzhen Stock Exchange Thursday, the company said its net profit hit 3.13 billion yuan ($476 million) last ...

Nanfang Space to raise $482m through new shares

China's Nanfang Space Navigation plans to raise 3.17 billion yuan ($482.4 million) through the issue of new shares, it said on Thursday. The company said it plans to issue a maximum of 275 million new shares and added that it would set aside 450 million yuan ($68.48 million) to ...

Suning reports soaring net profit in 2010

BEIJING - Suning Appliance Co, China's biggest home appliance retailer by market value, witnessed a 38.82 percent year-on-year net profit jump in 2010. In its annual business report filed to the Shenzhen Stock Exchange Wednesday, the Nanjing-based company said its net profit hit ...

Tencent net profit up 56% to $1.22b

HONG KONG - Tencent Holdings said on Wednesday its net profit grew 56.2 percent to 8.05 billion yuan ($1.22 billion) for the year ended Dec 31 2010. Its basic and diluted earnings per share were 4.432 yuan and 4.328 yuan. The revenue was 19.65 billion yuan, an increase of 57.9 ...

Goldwind aims to blow away competition

Goldwind's booth at a wind-energy exhibition held in Beijing last October. Goldwind was ranked No 4 globally last year in terms of new wind-energy installation. [Photo / China Daily] BEIJING - Xinjiang Goldwind Science & Technology Co Ltd, a manufacturer of wind turbines, expects ...

China Vanadium plans to double output

Iron ore producers hope that infrastructure development will boost demand for steelmaking materials. [Photo / Bloomberg] SHANGHAI - China Vanadium Titano-Magnetite Mining Co, the largest non-State-owned iron ore producer in Sichuan province, plans to double output capacity within ...

Novartis gets stake approval

Visitors arrive at the Novartis AG headquarters for the company's annual general shareholders' meeting in Basel, Switzerland. Novartis had about a 15 percent market share in the vaccines sector in China in 2010. [Photo / Bloomberg] Swiss drugmaker takes first step in entering ...

Shuanghui apologizes over additive scandal

ZHENGZHOU - China's largest meat processor Shuanghui Group apologized Wednesday after an illegal additive was allegedly found in meat products in an affiliate of the company. "Shuanghui Group would like to make an apology as Jiyuan Shuanghui, a subsidiary company of Shuanghui ...

The future's looking bright for Suntech

Workers on an assembly line that makes photovoltaic cells at the Suntech Power Holdings Co factory in Wuxi, China. With strong momentum in the US market, Suntech is planning to double or even triple its production capacity in its Arizona factory. [Photo / Bloomberg] Largest maker ...

Minmetals to plunge into deep-sea mining

An advertisement for China Minmetals on a street in Beijing. One of the company's subsidiaries has stepped up research into deep-sea mining. [Photo / China Daily] BEIJING - China Minmetals, the country's largest metals trader, said it has carried out research and development (R&D...

Trading of China's largest meat processor shares halted

ZHENGZHOU - Trading of shares in China's largest meat processor was suspended Wednesday after an illegal additive was allegedly found in meat products in an affiliate of the company. Shares of Shenzhen-listed Henan Shuanghui Investment & Development Co Ltd were suspended from ...

China Mobile buys handsets distributor at $36m

HONG KONG - China Mobile announced Wednesday it entered into an agreement to acquire the entire share capital of China Topssion Communication Co Ltd at 237 million yuan ($36.05 million). As China Mobile Communications Corporation, one of the vendors, is the ultimate controlling ...

China Mobile 2010 net profit up 3.9% at $18b

HONG KONG - China Mobile, the world's largest mobile network operator by subscribers, said Wednesday its net profit rose 3.9 percent last year to 119.64 billion yuan ($18.20 billion). Revenue for the 12 months ended December 31, 2010, rose 7.3 percent to 485.2 billion yuan. China ...

Hubei Changjiang plans backdoor listing

BEIJING - Hubei Changjiang Publishing Group announced on Tuesday that it will go through a backdoor listing onto the Shanghai Stock Exchange, amid a growing trend for Chinese press and publishing companies to branch into the equity market. Hubei Changjiang has plans to list ...
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