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Leading Russian, Chinese Power Companies Form Joint Venture in Siberia

Russia's largest independent power company "EuroSibEnergo" and the "China Yangtze International" ( Hong Kong subsidiary company of the "China Yangtze Power") have signed an agreement to form a joint power venture in Russia's Siberia, the EuroSibEnergo announced on Thursday. ...

Quality Watchdog Asks Toyota to Explain Latest Recall

The General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) urged Toyota Motor Corp. on Thursday to explain what was behind its recent recall. Li Yuanping, a spokesperson for AQSIQ, asked Toyota to "make a full explanation and provide detailed technical ...

Toyota USA Recalling over 2 Million Vehicles

Toyota is recalling more than two million vehicles in the United States to address trapped accelerator pedals in floormats, Toyota USA said on Thursday in a news release on its website. Toyota said it was adding about 1.4 million vehicles to its November 2009 recall for pedal ...

Sinopec's biggest bonds sale as rates rise

China Petroleum and Chemical Corp's (Sinopec) Dongfanghong refinery in Beijing. [Photo / Agencies] BEIJING / HONG KONG - China Petroleum & Chemical Corp, Asia's largest refiner, is selling the world's biggest convertible bond issue of this year, raising money at a lower cost than ...

SOEs will expand foreign business

BEIJING - China's central State-owned enterprises (SOEs) will try to expand their business abroad over the next five years, despite public concern about their earning abilities and ongoing political turmoil in some overseas markets, said a senior official in charge of the State ...

CNPC, Chevron build capacity in joint China gas project

CNPC and Chevron have started building gas production capacity at the Chuandongbei gas field in southwestern Sichuan province, Reuters reported on Thursday, citing the top Chinese oil and gas firm. CNPC, parent of PetroChina entered a 30-year product sharing contract in December ...

Yacht sellers feeling sunk by tax proposal

BEIJING - Owners of yachts - a luxury that is gaining popularity among China's newly rich - will have to pay an annual vessel tax based on the length of their craft if a draft law is passed by the top legislature. The latest draft of the vehicles and vessels taxation law was ...

Volvo plans Chengdu assembly plant

A model poses with a Volvo S80L model at an auto show in Beijing. The Swedish automaker aims to sell 250,000 automobiles in China by 2015, up from 30,522 in 2010, says a company spokesman. [Photo / China Daily] STOCKHOLM - Volvo Cars Corporation, the automaker acquired by ...

Dutch health firm eyes expansion in China

AMSTERDAM - Royal DSM is expecting to further expand its business with China in 2011, said the boss of the Dutch life sciences and material sciences company. "In the coming years, we want to still double the sales in China," DSM CEO Feike Sijbesma told Xinhua Wednesday, stressing ...

Fiji grants lease to Chinese company for bauxite mining

SUVA -- A Chinese company has been awarded a bauxite mining lease in Fiji's northern island of Bua, according to the Ministry of Lands on Thursday. The ministry's acting permanent secretary Filimone Kau told the media that Minister Netani Sukanaivalu and other officials in the ...

Hainan to boost growth with IPOs

Using capital generated through IPOs, Hainan's provincial government will focus on developing key industries with huge capital requirements, such as tourism, infrastructure and tropical agriculture. [Photo / China Daily] BEIJING - China plans to boost the economy of the southern ...

GE Healthcare aims to boost medical facilities

A rural doctor demonstrates the use of medical apparatus in Hefei, Anhui province. The multinational company, GE Healthcare, has targeted China's rural market. [Photo / China Daily] Beijing - The multinational medical devices and solutions provider GE Healthcare said it will ...

BAIC buys assets of Swedish transmission plant

BEIJING - China's Beijing Automotive Industry Holding Co (BAIC) announced Wednesday that it had purchased all equipment and technologies from a Swedish transmission plant for 31 million euros ($42.5 million). Ma Tongli, deputy general manager of BAIC, said the purchases from ...

BSH to build new production facility in Anhui province

NANJING - Bosch and Siemens Home Appliances Group (BSH) said on Wednesday that it plans to build a new refrigerator production base in China. The announcement underlines the Germany-based company's ambition to further expand in China's growing high-end refrigerator market. The ...

Carrefour, Wal-Mart fined 9.5m yuan for cheating Chinese consumers

BEIJING - Nineteen stores of Carrefour and Wal-Mart in China were fined 9.5 million yuan ($1.45 million) for cheating consumers over prices, said China's economic planner and price regulator Tuesday. The National Development and Reform Commission (NDRC) disclosed the cases of ...

Huawei wins suit against Motorola over property rights

SHENZHEN - China's Huawei Technologies Co Ltd said Wednesday it had won a lawsuit against Motorola and Nokia Siemens Networks (NSN), and a US court has now prohibited Motorola from selling any confidential data from Huawei to NSN. A spokesman for Huawei said at its headquarters ...

China to account for 8-9% of global M&A deals: JPMorgan

BEIJING - China should account for 8 to 9 percent of global mergers and acquisition (M&A)activity this year, continuing close to its strong levels in 2009 and 2010, according to the head of JPMorgan's China M&A unit, Brian Gu on Tuesday. Consolidation in the consumer retail, real ...

Huawei Wins Injunction against Motorola

Chinese telecom equipment maker Huawei has won a preliminary injunction from a US court barring Motorola from transferring intellectual property in a planned acquisition by Nokia Siemens Networks. The order by a Chicago federal court Tuesday prohibits Motorola from transferring ...

Baidu Accused of Abusing Dominant Position

Baidu Inc may face anti-monopoly scrutiny after a Chinese website launched a complaint against the country's biggest search engine. Hudong.com, an online encyclopedia, is alleging that Baidu unfairly blocks its Web pages from search results in favor of its own encyclopedia ...

Greek entrepreneur values 'China factor'

ATHENS - European businessmen are becoming more aware of China's growing influence when they seek business opportunities brought by the "China factor." There is no sense to make any entrepreneurial move in the West nowadays without taking the "China factor" into consideration, ...
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Lucrative golf industry lures stiff competition
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Two models stand beside golf equipment and bags at a recent golf ...
Yao's gift of sport for all
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