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Capital for CIC in the pipeline

Funds set to ease pressure created by high foreign exchange reserves Wang Jianxi, executive vice-president and chief risk officer of CIC BEIJING - The Chinese government will inject more capital into China Investment Corp (CIC), the country's $300 billion sovereign wealth fund, ...

Minmetals seals rare earth deal

China Minmetals Corp, one of the country's top mining companies has signed a cooperation agreement with the Heyuan municipal government of Guangdong province to develop the city's rare earth resources, according to a statement posted Wednesday on the company's website. The ...

Chinese and US companies to develop C919 power system

BEIJING - China's AVIC Electromechanical Systems Company Limited and the US Hamilton Sundstrand announced in Beijing on Thursday that they would set up a joint venture to produce power systems for the C919, China's first domestically-produced large passenger plane. The joint ...

Far Eastern Group aims to expand on Chinese mainland

TAIPEI - Taiwan's Far Eastern Group may buy as many as three cement companies on the Chinese mainland as it expands into the retailing, materials and chemicals industries in the world's second-largest economy, Far Eastern Group Chairman Douglas Hsu said. Far Eastern Department ...

Shenhua Group to invest $78b on expansion in 2011-15

HOHHOT - Shenhua Group, China's largest coal producer, said Thursday that it would invest 515.2 billion yuan ($78.4 billion) on business expansion in the next five years leading up to 2015. The company will add an additional 200 million tons in coal production capacity, raising ...

China Southern to launch new route to Auckland

GUANGZHOU - China Southern Airlines, with the nation's largest air fleet, said on Thursday that it would fly directly between Guangzhou, capital of south China's Guangdong province, and Auckland, New Zealand starting on April 8. This would be the first non-stop air service ...

Baosteel wins US trade case

A Baosteel booth at an industrial show in Shanghai. The largest Chinese steelmaker said it has won a US anti-dumping case involving drill pipes. [Photo / China Daily] C ompany's victory sets a precedent for peers to defend their rights SHANGHAI - Baoshan Iron & Steel Co Ltd ...

China Vanke's February sales rise 141.8%

BEIJING - China Vanke, the country's largest property developer, said on Thursday that its property sales in February hit 6.08 billion yuan ($925.42 million), up 141.8 percent year on year. However, the figure was about 70 percent lower than January's record of 20.1 billion yuan. ...

Bright Food keen on Yoplait stake to grow business

A Bright Food booth at a franchise show in Nanjing. The company is planning more overseas acquisitions while it is bidding for the French yogurt maker Yoplait. [Photo / China Daily] BEIJING - Bright Food Group, China's leading food group, is optimistic about its bid to purchase a ...

Chinese liquor maker Wuliangye's 2010 net profit up 33.91%

BEIJING - Wuliangye Yibin Co Ltd, one of China's top liquor brands, announced Thursday that its net profit rose 33.91 percent in 2010 year on year to 4.35 billion yuan ($661.37 million). Operating revenue last year jumped 39.36 percent to 15.5 billion yuan, said the liquor ...

Xinjiang spends heavily on wind power industry

URUMQI - Northwest China's Xinjiang Uygur autonomous region plans to spend 20 billion yuan ($3.04 billion) this year to boost its wind power industry, including the establishment of the region's largest production base for wind-power turbines in Hami. The investment will bring ...

Harbin Hafei Airbus opens new production facilities in China

Airbus President and CEO Tom Enders joined Chinese officials and partners Monday in opening The Harbin Hafei Airbus Composite Manufacturing Centre. The facility is a joint venture between Airbus and its Chinese partners. The new facilities will mainly be used to manufacture ...

Sands' shares slide after news of US probes

HONG KONG - Sands China Ltd fell the most in more than a year in Hong Kong trading after its majority shareholder, billionaire Sheldon Adelson's casino company, said it faced investigations from the US Securities and Exchange Commission (SEC) and the Justice Department. Sands ...

Soho's profit rose 10% in 2010, price gain forecast

HONG KONG - Soho China Ltd, the biggest developer in Beijing's central business district, said its 2010 profit rose 10 percent and forecast a "significant" gain in commercial property prices. Net income climbed to 3.6 billion yuan ($547 million), or 0.67 yuan a share, from 3.3 ...

More routes to start between China and US

BEIJING - The new United Airlines, the world's largest airlines after the merger of United and Continental Airlines, plans to commence flights from Shanghai to Los Angeles on May 21 and resume services from Beijing to Washington, DC, by the end of March. James Mueller, vice...

Kempinski to add 20 hotels by 2015

BEIJING - The German luxury hotel group Kempinski will open 20 hotels to reach a total of 30 by 2015, the hotelier's China president said on Tuesday. "We plan to have 30 hotels in China by 2015 and maintain the number in the following years," said Michael Henssler, president of ...

Real estate developers remaine calm

BEIJING - Peter Cao, the chairman of the board of directors of Yadong International Real Estate Development Company, has been closely following the impact of the purchasing restrictions on China's housing markets unveiled in February in many cities. He remains optimistic. "The ...

Wahaha plans to open department stores

Zong Qinghou, chairman of Wahaha Group, encourages employees to sing at the company's New Year Party. [Photo / China Daily] SHANGHAI - Billionaire Zong Qinghou, whose beverage maker Hangzhou Wahaha Group Co has made him China's richest man, said he plans to venture into retailing ...

Life-size C919 model to be showed next week

BEIJING - A life-size model of China's first homegrown large passenger jet, the C919, will be displayed at the Scientific Achievements Expo, running from March 7 to 14 in Beijing. The model, which comprises of the jet's cockpit and front part of the passenger cabin, is the same ...

China, Myanmar companies jointly to produce heavy duty trucks

YANGON - China and Myanmar companies have reached an agreement on production of 10-15 ton heavy duty trucks in Myanmar, the State-run paper the New Light of Myanmar reported Wednesday. China National Heavy Duty Truck Group Co Ltd (CNHTC) and General Heavy Machinery Industry ...
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Minivans rev up sales for GM
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Lucrative golf industry lures stiff competition
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Yao's gift of sport for all
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