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Gamesa powers up Chinese wind projects

An employee stands on a wind turbine maintenance platform in Shantou, Guangdong province. Gamesa SA, a global leader in wind turbine manufacturing, said on Wednesday that it signed contracts with two Chinese companies to co-develop projects with a total of 600 megawatts of power. ...

Small, mid-size firms facing financial strains in Wenzhou

Employees manufacturing footwears at Hashan Shoe Plant in Wenzhou, Zhejiang province. [Photo / China Daily] SHANGHAI - Small- and medium-size enterprises (SMEs) in Wenzhou are faced with severe cash-flow problems as they find it hard to access bank loans or personal loans due to ...

COFCO seals deal with Chateau de Viaud

PARIS - COFCO, China's leading foodstuffs import and export group, signed a formal agreement Wednesday to purchase the Chateau de Viaud, a French wine producer in the Bordeaux region. With the acquisition, COFCO became the first Chinese wine dealer to buy a Bordeaux winery. The ...

ZTE renews efforts to win US contracts

Completion of previous deal with Sprint blocked by government BARCELONA, Spain - ZTE Corp, China's second-biggest maker of phone-network equipment, will renew attempts to bid for contracts in the United States after it said opposition from the US government foiled the signing of ...

Property developers raising cash abroad

Pedestrians walk past advertisements for new apartment buildings in Shanghai. The country's leading property developers recorded robust sales in January, but the government's latest round of tightening measures in late January are expected to result in plummeting sales later. ...

Foxconn mulls expansion of mainland TV plant

Foxconn Group, maker of Apple Inc's iPhone and iPad, is proposing an expansion of its LCD television production site in the mainland and is talking to clients about the idea, an official said on Wednesday. Eyeing burgeoning demand from the mainland's TV market, which is set to ...

Trina Solar aims for global PV ranking

BEIJING - "The United States' solar photovoltaic (PV) industry will undergo a period of rapid development in 2011 and the number of products our company supplies to the US market will be doubled," said Gao Jifan, chief executive officer of Trina Solar Ltd, a Chinese leading solar ...

Sky is the limit for a strong Air China: Chairman

BEIJING - Air China, the national flag carrier, has high hopes of becoming one of the world's top five airlines in the years to come, its chairman, Kong Dong, said during an interview with China Daily. With a fleet that is expected to nearly double in the coming five years - to ...

Tax preferences for SMEs to continue

BEIJING - A small business in China only needs to pay half of income tax if the amount of its due tax is 30,000 yuan ($4,550) or lower annually, according to a policy announced Tuesday. Additionally, the income tax rate will be set at 20 percent for these businesses, compared ...

Huawei refusal provokes headache for Obama

SHANGHAI - China's Huawei has refused to back down after a US Congress panel voiced security concerns about the technology giant's acquisition of US computer technology and shunted the issue to US President Barack Obama, a report said on Tuesday. Huawei said it would suffer ...

China Mobile seeks partners abroad

China Mobile's booth at a high-tech expo in Beijing. The telecom company is seeking opportunities for investments or partnerships to accelerate the global adoption of a Chinese-developed fourth-generation mobile system called TD-LTE. [Photo / China Daily] The company is looking ...

Small, mid-sized companies turn to pawnshops for loans

BEIJING - Small- and medium-sized companies in China are turning to pawnshops for quick and easier money-borrowing services, even at much higher costs, as they are finding it difficult to get bank loans due to tight lending policies. The central bank's move to raise the benchmark ...

Kirin to sell Dalian brewery's stake

TOKYO - Kirin Holdings will sell its entire 25 percent stake in Dalian Daxue Brewery to Anheuser-Busch InBev for an undisclosed amount as the Japanese beer maker reorganises its production in China, the Reuters reported on Tuesday, citing the company's spokeswoman. Kirin, which ...

Steelmakers raise prices again

Increase in the cost of raw materials now being passed on to customers BEIJING - China's major steelmakers raised prices for a third straight month as downstream demand became stronger and raw material prices continued to rise. Baoshan Iron & Steel Co, the nation's largest ...

Carrefour likely to close another two outlets

Customers are shopping at a Carrefour SA supermarket in Haikou, Hainan province, during the Spring Festival. The company's two stores in Changchun, Jilin province, and Shaoxing, Zhejiang province, are likely to be shut down. [Photo / China Daily] BEIJING - Retail giant Carrefour ...

SMG in talks to air in Hong Kong

A booth of Shanghai Media Group (SMG) at a recent TV program fair held in Shanghai. SMG, China's second-biggest media company by revenue, is negotiating with two Hong Kong pay-TV service providers about cooperation. [Photo / China Daily] Documentary channel deal seen as start of ...

Baosteel raises March product prices

SHANGHAI - China's top listed steelmaker Baoshan Iron and Steel (Baosteel) will raise its main product prices for March bookings by around 300 yuan ($45.5) a ton, the Reuters reported Tuesday, citing steel consultancy Custeel.com. According to the report, the consultancy said ...

McDonald's may raise prices in China

A McDonald's Corp restaurant in Beijing. The company has about 1,300 restaurants in China and aims to have at least 2,000 by 2013. [Photo / Bloomberg] Burger chain says increases to be lower than inflation to hold competitive edge HONG KONG - McDonald's Corp, the world's largest ...

Sinovel prepares to unveil China's first 6mW wind turbine

BEIJING - Sinovel Wind Group Co, China's largest wind power generator manufacturer, announced Monday it will finish production of the country's first independently-developed 6-megawatt wind turbine in June. The turbine would put Sinovel on a par with Germany's Enercon and Denmark...

Hotpot restaurants to list on Nasdaq

CHONGQING - Two hotpot restaurant chains are cooking up plans to list on the Nasdaq stock market within the next two years as part of their attempts to expand overseas. Chongqing Liuyishou Hotpot Co Ltd, based in the southwestern municipality, said it plans to go public within ...
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