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Private enterprise exports skyrocket

BEIJING - Private Chinese enterprises exported goods worth $481.3 billion in 2010, a jump of 223 percent compared with 2005, said a report by the All-China Federation of Industry & Commerce (ACFIC). The year-on-year increase on average has been 26 percent over the past five years...

BP Sees First Annual Loss in 18 Years

Photo taken on Feb. 1, 2011, shows the logos of British Petroleum (BP) at a petrol station in London, Britain. BP reported a loss of 4.9 billion US dollars (around 3.1 billion pounds) for 2010, its first annual loss since 1992, owing to the oil spill in the Gulf of Mexico ...

Telco's Net Earnings Fall Despite iPhone Deal

China Unicom Ltd's partnership deal with Apple for the iPhone in the domestic market has not helped its net profit in 2010 which is set to tumble 50 percent from the previous year, the telco said Monday. The decline in its net profit was due to the telco's high subsidies on 3G ...

Carrefour Welcomes Public Input on Price Review

Carrefour China apologized again to the public Tuesday and promised to introduce public supervision of prices after consumer authorities blacklisted it for cheating on prices last week. It was the company's second apology since Jan. 26, when the National Development and Reform ...

China Nonferrous buying stake in Daye

HONG KONG - A State-owned miner will invest 3 billion yuan ($454 million) in Daye Nonferrous Metals, China's fifth-largest copper producer by capacity, for an unspecified stake, a Daye executive said on Monday. The investment could help Hubei province-owned Daye's plan to boost ...

Zhenhua Heavy may report loss

SHANGHAI - Shanghai Zhenhua Heavy Industry Co Ltd (ZPMC), the world's leading manufacturer of large steel cranes designed to unload shipping containers, is expected to report a financial loss in 2010, the first-ever loss in company's 18-year history. The heavy-duty equipment ...

Transit security the key for Gunnebo

SHANGHAI - Gunnebo AB of Sweden has established a factory in Kunshan, Jiangsu province, to build mechanisms for subway toll gates to meet an expected increase in demand from the mass-transit building boom in a number of mainland cities. The company, listed on the Nasdaq OMX ...

CSR predicts net profit rose by more than 50% last year

Railway company eyes cooperation in more domestic, foreign projects BEIJING - China's largest train manufacturer CSR Corp said on Monday that it expects its net profit to have increased by more than 50 percent in 2010, thanks to the country's fast development of high-speed ...

Wenzhou merchants see gain on horizon

They turn strong yuan to advantage by making European acquisitions SHANGHAI - Squeezed by the appreciating yuan and rising wages, factory owners in Wenzhou of Zhejiang province are looking overseas to find higher returns for their fortunes amassed by exporting a range of consumer ...

South Beauty works for listing to fuel expansion

BEIJING - Chinese restaurant operator South Beauty Co Ltd is striving for a listing this year to fuel its expansion at home and acquisitions abroad, company Chairwoman Zhang Lan said on Monday. "We've been selecting underwriters, but the exact time for the listing depends on ...

Sohu.com results beat estimates

Fourth-quarter net income rises to $41.5 million on higher prices HONG KONG - The owner of China's fourth-most visited website, Sohu.com Inc, posted a better-than-estimated 41 percent gain in profit after the company raised prices and boosted services such as video sharing. ...

CNOOC pays $570m to buy into US oil shale operation

NEW YORK - China National Offshore Oil Corp (CNOOC) Ltd, China's largest offshore energy producer, agreed to pay $570 million in cash for a one-third stake in Chesapeake Energy Corp's Niobrara shale project, adding to its US holdings in crude oil production. Visitors at China ...

Sohu Profit Beats Estimates on China Online Ad Sales

Sohu.com, China's fourth-most visited website, has posted a better-than-estimated 41 percent gain in profit after the company raised prices and boosted services such as video sharing. Fourth-quarter net income jumped to $41.5 million, from $29.4 million a year earlier. Sales rose ...

A new dimension in entertainment to hit Beijing

Moviegoers walk past an advertisement for the film Avatar at a cinema in Beijing. [Photo / Bloomberg] BEIJING - Forget 3D and don't even mention 4D. The latest buzz among entertainment seekers is 5D. That's what Sun Jianjun, president of C&C Entertainment International Co Ltd, ...

Starring role for developers

Poly Theater in Beijing. Poly Film Investment Co Ltd has established strategic cooperative partnerships with leading property developers including Greentown and Shanghai-based Greenland, which means it has priority in negotiating with them for cinema construction. [Photo / China ...

Forget the kettle - put the Tpresso on for a nice brew

Eric Favre shows the use of the Tpresso to a Chinese volunteer taster at a ceremony promoting the machine in Beijing on Jan 12. [Photo / China Daily] BEIJING - If you thought the humble teabag was about as convenient as it gets for making tea, think again. Those pressed for time, ...

Post Bureau hands down first fine for poor parcel handling

A worker carries a parcel at a courier's branch in Wuhan, capital of Hubei province, on Jan 23. [Photo / China Daily] SHANGHAI - The State Post Bureau has fined the Shanghai Jinqiao division of Shentong Express 10,000 yuan ($1,520) for rough handling of parcels. It is the first ...

From China's wealth, designs to dream about

American architects in China feel free to create. A Stuart Silk villa; top, a drawing of a Goettsch Partners tower. [Photo / Stuart Silk Architects; TOP, Goettsch Partners] Scores of architectural firms across America are enjoying a startling boom - in China. The Chinese work has ...

Carrefour stores fined for overcharging

Three Carrefour stores were fined 500,000 yuan ($75,988) each on Saturday for overcharging customers in east China's metropolitan Shanghai, said municipal price regulators. The fine is the highest for such wrongdoing, with the tickets being issued Saturday morning. The three ...

Carrefour promises refunds for deceptive pricing

A customer views the products labeled low price at the Carrefour Guangqumen Store in Beijing, capital of China, Jan 27, 2011. French retailer Carrefour has apologised Thursday night after some of its stores in China were caught overcharging customers for products. Carrefour also ...
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