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Property firm bids to purchase 16 farms in NZ

WELLINGTON, New Zealand - Shanghai Pengxin Group, a Chinese property developer and owner of agricultural and mining ventures, is seeking to buy 16 dairy farms in New Zealand after the government rejected an earlier bid by a different Chinese company. Shanghai Pengxin will apply ...

Nokia joins local firms to provide location-based services

An advertisement for Nokia's E7 mobile handset in Helsinki, Finland. Nokia has more than 250 million mobile phone customers in China.[Photo/Agencies] Nokia joins Tencent and Sina to provide new location-based services BEIJING - Nokia Corp will join forces with Sina Corp and ...

CNOOC lifts production target by 11 percent

HONG KONG - China's top offshore oil and gas producer, CNOOC Ltd, has lifted its 2011 production target by up to 11 percent as new projects at home and overseas come on stream. CNOOC, with a market capitalization of about $105 billion, said in a statement on Thursday that it ...

CBS unit expands online reach in China

The CBS Corp Television City building in Los Angeles, California. CBS has gained ownership of more than 20 Chinese Internet companies after it acquired CNET in 2008 for $1.8 billion, through its subsidiary CBS Interactive. [Photo / Bloomberg] The company, with 23 Chinese websites...

Clubs need to get financially fit

Members of a fitness club in Beijing's Fengtai district ask for a refund on Monday after they heard about the club's gym renovation plan. [Photo / China Daily] Waves of closures of fitness centers leave members sweating over prepaid fees. Duan Yan in Beijing reports. Gym members ...

CNOOC Ltd sets 2011 output target higher

BEIJING -- China's largest offshore oil and gas producer, China National Offshore Oil Company Limited (CNOOC Ltd), announced Thursday that its 2011 oil and gas output target is set at 355 to 365 million barrels of oil equivalent (BOE). It is higher than an estimated output for ...

Wal-Mart apologizes to customers for price cheating

SHENZHEN -- Wal-Mart (China) late Thursday apologized to customers after being blacklisted by Chinese authorities for cheating on prices. The Wal-Mart (China) Investment Co, Ltd expressed "sincere apology" to affected customers in a written interview with Xinhua. Further, the ...

CNPC's Huanqiu unit to buy 20% of Aussie LNG Ltd

BEIJING -- Huanqiu, a unit of China National Petroleum Corp (CNPC), has agreed to purchase a 19.9 percent stake in Australia's Liquefied Natural Gas Ltd, CNPC said Thursday. China Huanqiu Contracting & Engineering Corp, a wholly-owned subsidiary of CNPC and an intelligence...

Xinyuan looks for investors to help finance land purchases

Saleswomen promote a property owned by Xinyuan in Zhengzhou, Henan province. The Beijing-based real estate developer said it wants to raise funds from investors for land purchases. [Photo / China Daily] BEIJING - Xinyuan Real Estate Co, a Chinese developer that sells apartments ...

Glencore hopes to raise $2.5b in Hong Kong listing

BEIJING - Glencore International AG, the world's largest commodities trader, plans to raise about $2 billion to $2.5 billion in Hong Kong as part of a $10 billion initial public offering in the Chinese city and London, according to two people familiar with the matter. Glencore ...

Home Depot shuts Beijing store due to difficulties

A sign posted on the door of Home Depot China s last Beijing store. [Photo / China Daily] Outlets in other regions to stay open as company makes adjustments BEIJING - US home-improvement giant Home Depot Inc has closed its last Beijing store due to operational difficulties. The ...

Disney plans Chinese stores by mid-2012

SHANGHAI - Walt Disney Co said on Tuesday that it will open its first direct-sale store in China by mid-2012. The move would see the US-based company making another stride into the Chinese market after construction of its Shanghai Disney theme park project started in November, ...

Carrefour apologizes for overcharging

Shoppers at a Carrefour SA outlet in Maanshan, Anhui province. An investigation by the National Development and Reform Commission found some of Carrefour's stores engaged in deceptive pricing. Carrefour released an apology afterward, indicating cooperation with authorities and ...

China develops thousand-ton crane

NANJING -- China has become the world's third country to develop and manufacture a one thousand ton crane, along with Germany and the United States, as two new heavy-lifting cranes developed by a local machinery company have been approved for use in Xuzhou in eastern Jiangsu ...

Sinopharm buys Hebei medicine retailer for $197m

HONG KONG - Sinopharm Group Co Ltd said on Wednesday it would buy a majority stake in a medicines retail chain operator for up to 1.3 billion yuan ($197.5 million), a bid to expand its pharmaceutical distribution business in China's Hebei province. In a filing with the Hong Kong ...

Huarong's 2010 net profit surges 146%

BEIJING -- China Huarong Asset Management Corp (Huarong) announced Wednesday that its 2010 net profit soared 146 percent year on year. Huarong's net profit hit 2.018 billion yuan ($306.22 million) last year, said Lai Xiaomin, president of the company, at its annual meeting. Lai ...

Foxconn to employ 30,000 workers in Hubei

Foxconn Technology Group, the world's largest contract manufacturer of electronics parts, on Tuesday announced plan to recruit no fewer than 30,000 workers in Hubei province after the Spring Festival and also offer higher wages, the National Business Daily reported Wednesday. The ...

Pramerica Real Estate to launch China, Brazil funds

LONDON - Pramerica Real Estate Investors is targeting commercial property in the emerging markets of China and Brazil with two new ventures, seeking to capitalize on the positive economic growth generated by those countries. Chief Executive Allen Smith said on Tuesday that this ...

Finding the right chemistry in China

SHANGHAI - The world's largest listed plastic adhesives manufacturer will invest between $50 million and $60 million in China over the next two years, three times the company's current investment, said a top executive from the US-based company. "The investment over the next 18 ...

400-store mall to come in Guangzhou

HONG KONG - Lan Kwai Fong Holdings Ltd, developer of Hong Kong's iconic stretch of bars and restaurants, will expand in Guangzhou, Guangdong province, to tap growing domestic consumption. As many as 70 bars and restaurants will be opened in a 148,000-square-meter shopping mall in ...
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China's farm product pricing plan shifts to market orientation
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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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Chinese NBA player Yao Ming teaches a boy with special needs how to ...
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Some 14 countries and regions are expected to compete in the 45th ...
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