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Largest-ever cargo ships are ordered

An A.P. Moller-Maersk AS container ship leaves Hong Kong. [Photo / Bloomberg News] Maersk plans to carry goods to and from China in the massive vessels HONG KONG - Driven by the growing demand generated by China's booming economy, AP Moller-Maersk AS, one of the world's biggest ...

Best Buy closes China outlets

SHANGHAI - US consumer electronics retailer Best Buy Co Inc has closed all nine outlets on the Chinese mainland, plus its regional retail headquarters in Shanghai, a statement on the company's website said Tuesday. It said Best Buy's China business would be merged into its wholly...

Macao's 1st mobile e-book platform to be launched in Q1

MACAO - Hutchison Telephone (Macao), which markets itself as 3 Macao, has announced that it will launch Macao's "first-ever one-stop mobile e-book platform in the first quarter" of the year, the Macao Post Daily reported on Tuesday. The company made the announcement about its "3 ...

Urban trend a lasting boon for Chinese steelmakers

BEIJING - With China's fast urbanization, its steel output won't drop until at least 2030, stimulated by long-term robust demand, industry experts said on Monday. "China's steel production won't decline over the next 20 to 30 years because urban construction in west China still ...

Industry steels itself for change in next 5 years

A view of a steel factory in Tangshan, Hebei province. Analysts said a developmental trend in China will see steel mills being relocated to coastal areas because of financial and environmental considerations. [Photo / China Daily] Production to move to coastal areas as sector ...

Brazil's Petrobras keen on cooperation with China: CEO

RIO DE JANEIRO - Brazil's state-controlled oil and gas giant Petrobras is analyzing future cooperation opportunities with Chinese companies, the company's Chief Executive Officer (CEO) Jose Sergio Gabrielli said on Monday. There are opportunities for cooperation in practically ...

CNPC plans to extend pipeline network

Workers inspect a CNPC facility in Henan province. [Photo / China Daily] Oil major aims to double the length laid during the past five years BEIJING - China National Petroleum Corp (CNPC), the country's largest oil and gas producer, said it is planning to double the length of ...

Huawei withdraws from US company purchase

SHENZHEN - Huawei Technologies Ltd, China's leading telecommunication equipment manufacturer confirmed on Monday that it would abandon its efforts to acquire assets of a US computer company as recommended by a security panel. "Huawei Technologies Ltd has withdrawn its application ...

Alibaba execs resign over supplier frauds

A security guard stands at the gate of an Alibaba Group Holding Ltd operations center in Hangzhou, Zhejiang province. [Photo / Bloomberg] BEIJING - China's top e-commerce operator Alibaba.com Ltd's chief executive officer David Wei resigned after the company found more than 2,000 ...

Tibet Airline to begin offering flights in July

LHASA - China' s Tibet Airlines Company, the first airline based in southwestern Tibet Autonomous Region, will inaugurate its first flight in July, said the company on Monday. As the company' s first aircraft will be delivered in Hamburg, Germany on July 7, the company will then ...

Harsh reality behind Apple scandal

Five men affected by exposure to the chemical n-hexane at an Apple supplier factory in Suzhou, Jiangsu province, display the hospital discharge papers they received following treatment. From left are Sang Xiaolong, Jia Jingchuan, Yao Xiaoping, Zhang Fei and Hu Zhiyong. [Photo / ...

MOC regrets Huawei's dropping deal to buy 3Leaf assets

BEIJING - China's Ministry of Commerce (MOC) said on Monday it regrets Huawei Technologies Co's withdrawal of its agreement to buy the assets of 3Leaf Systems while under pressure from a US panel. The MOC said in a statement on its website that it hopes "relevant parties" in the ...

Huawei confirms bid for London subway cell-phone network

SHENZHEN - Huawei Technologies Co Ltd in South China's Guangdong province confirmed on Monday that the company had participated in a phone network installation bid for the London Underground. A senior executive of the company told Xinhua News Agency that the bid was worth some 50 ...

'Hot money' fear holds yuan settlement plan

BEIJING - The risk of a surge in "hot money" is one of the reasons why China is unlikely to allow foreign companies to make yuan investments this year, even though a feasibility study was completed last year, said an unnamed source with the Ministry of Commerce (MOC). "The ...

Yoox to open 2nd site in China to boost e-luxury

Yoox SpA plans to open a second e-commerce site in China in March to tap growing online demand for luxury goods, Bloomberg News reported. The site for the Marni fashion brand will go live on March 1, after the online retailer established a Chinese Internet service for Emporio ...

Renren.com plans $500m US IPO: report

Renren.com, Chinas largest social-networking service, is seeking a US initial public offering (IPO), Bloomberg News reported on Monday. The company is preparing an IPO of about $500 million this year, the report said, citing three people with knowledge of the plan. The banks ...

Stores form basis for new towns

Homes, services will cluster around new discount outlets WANNING, Hainan - Explaining the relatively new concept of discount retail outlets in China has not always been easy - or without its surreal moments. When Outlets (China) Ltd Chairman Lin Zhuoyan introduced the idea to a ...

Mothercare plans ambitious growth throughout China

Baby clothes at a Mothercare store in Oxford Street, central London. The British company is eyeing China as a new and a fast-growing market for its global business. [Photo / Bloomberg] BEIJING - Mother- and baby-products retailer Mothercare UK Ltd plans to aggressively expand its ...

Lead-acid battery makers targeted in clean-up campaign

BEIJING - China's environment authorities will launch a campaign this year to clean up lead-acid battery manufacturing, which has been blamed for a spate of child lead poisoning cases. Authorities across the country would carry out blanket inspections of all lead-acid battery ...

Sky's the limit for Wenzhou's whirlybirds

SHANGHAI - A Wenzhou-based auto parts manufacturer has obtained approval from European regulators to jointly manufacture with Eurocopter the first luxury commercial helicopter in China next year, amid growing interest in aviation in the country. With technical support from ...
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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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