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China Plans to Build National Renewable Energy Center

China plans to build a national renewable energy center to further shore up development of the industry, the China Daily reported Wednesday. The establishment of the center is in the preliminary planning stages, the newspaper quoted Han Wenke, director general of Energy Research ...

China's 2009 Coal Imports Triple After Stimulus Increases Demand

The volume of China's coal imports more than tripled in 2009 from a year earlier as the country's economic stimulus package boosted demand. China's coal imports jumped 2.1 fold to 130 million tonnes in 2009 from a year earlier, with the average price being 84 U.S. dollars per ...

Air China Orders 20 Airbus A320s for $1.63 bln

Air China, one of the three major civil aviation companies in the country, said Thursday that it has ordered 20 Airbus A320 planes to promote its fleet capacity on growing demand. In a statement to the Shanghai Stock Exchange, Air China said that the planes of the 1.63-billion U...

Tianjin Becomes Homeport for Int'l Cruise Liners

Tianjin Port in north China will open to international cruise ships for refueling and maintenance in June this year, the port operator said here on Wednesday. China currently has three so called homeports where refueling and maintenance facilities are available for international ...

Holiday Travel Rush Becomes Another Source of Increasing Cost for Chinese Companies

This year's Spring Festival holiday was special and sweeter to Liang Xiulong, a 39-year-old migrant working at a textile dyeing company in East China's Zhejiang Province. For the first time in her life, she had a ride on an airplane, and for free. The 1,700-km journey to her home ...

China Strengthens Lending Regulations, Focuses on Credit Risk Control

China's banking regulator has issued two regulations that aim to tighten banks' lending and risk management controls. Banks must set a lending quota after "prudent calculation" of borrowers' "actual demand" and must not lend excessively, the China Banking Regulatory Commission ...

China's Sanjiu Posts Soaring Net Profit in 2009

Sanjiu Medical & Pharmaceutical Co., Ltd.(Sanjiu), China's leading manufacturer of traditional Chinese medicines on stomach diseases and cold, said Tuesday its net profit in 2009 surged 41.86 percent year-on-year. In an unaudited financial statement to the Shenzhen Stock Exchange...

China Southern Airlines Likely to Receive 1.5 bln Yuan Capital Injection

China Southern Airlines, the country's largest carrier, said late Monday that it was likely to receive 1.5 billion yuan (about 219 million U.S. dollars) as capital injection from its parent company. The parent China Southern Air Holding Co. would use the funds, which was ...

China to Open up More Credit Lines for Small Businesses

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Espanyol Agrees 4 Year Sponsorship with China's Li Ning Company

Spanish BBV Primera Liga club Espanyol announced on Wednesday that it had reached an agreement to sign a four year sponsorship deal with the Chinese Li Ning Company Limited. The two will sign the agreement in a ceremony on Friday, Feb. 26. The agreement will make Espanyol the ...

Spending by Chinese Tourists Keep Rising in South Korea

Chinese tourists traveling to South Korea are continuing to increase its spending during their stay, local media reported Monday citing industry sources. Lotte Department Store, the country's largest retail chain store, saw sales from Chinese tourists grow from 14.6 percent of ...

General Motors Shutting Down Hummer

General Motors Co. has started shutting down Hummer, after a proposed deal to sell the rugged brand to a Chinese company collapsed, a senior company official said on Wednesday in Detroit. The decision is the latest setback in GM's attempts to unload unwanted brands and alleviate ...

Beijing Spends Big to Build World-Class Auto Power Assembly Base

Work began Friday to build an automotive power assembly base in China's capital, according to company sources. The base, located at the Tongzhou district economic development zone, would cost 10 billion yuan (1.47 billion U.S. dollars), Beijing Automotive Industry Holding Corp. ...

Chinese Mainland to Further Open Agricultural Product Market to Taiwan

The chief economist of Ministry of Agriculture said Sunday the mainland would ensure Taiwan's agricultural products to have more access to the mainland market following a series of favorable entry policies launched in recent years. Chen Mengshan told Xinhua that the mainland ...

China Allocates 28.6 bln Yuan to Support Farmers

China's central government has allocated 28.6 billion yuan (4.2 billion U.S. dollars) to support farmers, the Ministry of Finance said in a statement Monday. The bulk of the funding -- 18.6 billion yuan -- would be used to subsidize farmers in growing improved varieties of crops ...

China's Top Property Developer Posts 32 pct Profit Surge in 2009

China Vanke Co., the country's largest real estate developer, said Monday its net profit rose 32 percent year on year in 2009 amid a strong rebound in the nation's property market. Net profit amounted to 5.3 billion yuan (776 million U.S. dollars) last year, and the company's ...

Tianjin Port in North China Reports Soaring Auto Imports

China's major auto import customs center in Tianjin Municipality has reported a strong increase in auto imports this year. Customs statistics show January imports to the port hit 24,000 vehicles with a total value of 820 million U.S. dollars. Both figures represented a year-on...

China to Ban Sales of Inefficient Air Conditioners

China's top economic planner said Wednesday it would ban sales of energy-wasting air conditioners from June 1 by raising the market threshold based on their energy efficiency. New standards will evaluate each model according to their coefficient of performance (COP), the ...

China's 100 Key Retailing Enterprises Report Falling Sales in January

The 100 key retailing enterprises in China clinched 34.56 billion yuan (5.06 billion U.S. dollars) worth of sales in January, down 7.11 percent year-on-year, according to statistics released Wednesday. In a statement posted on the website of Ministry of Industry and Information ...

China Enhances Industrial Restructuring for Balanced Growth

China intensified industrial restructuring in 2009 in an effort to optimize economic structure and lay a sound foundation for long-term development, Premier Wen Jiabao said at the parliament's annual session Friday. The government encouraged mergers and acquisitions in major ...
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