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China Plans 10.6 bln Yuan to Support Small Businesses in 2010

China will allocate 10.6 billion yuan to beef up development of small and medium-sized enterprises (SME) this year, says a government work report delivered by Premier Wen Jiabao at the parliament's annual session Friday. The government will implement a preferential income tax ...

East China Fair Sees Export Deals up 22% on Global Recovery

Export deals at the 20th East China Fair, which ended Friday in Shanghai, rose 22 percent year on year to 2.73 billion U.S. dollars, the fair organizer said. The growth came as global economic recovery revived external demand for Chinese exports. Last year, export deals slumped ...

Chinese Built Large Civil Copter to Make First Flight in March

The AC313, China's first independently developed civilian helicopter, has its maiden flight scheduled for mid-March in the eastern province of Jiangxi, a company official said here Saturday. Sun Cong, deputy chief engineer of Aviation Industry Corporation of China (AVIC), told ...

Shenzhen Airport Says 2009 Profits Surged 135%

Shenzhen Airport Co., Ltd. in south China's Guangdong Province said net profits surged 134.92 percent year on year to 575 million yuan (84 million U.S. dollars) in 2009. Business revenue was 1.66 billion yuan last year, up 9.69 percent compared to the year before. Earnings per ...

China UnionPay's Major Business Expands in Maldives

China UnionPay (CUP) began cash withdrawal services for card holders in 95 percent of automatic teller machines in the Maldives, after launching a partnership with the island nation's biggest bank Friday. Following cooperation between the CUP and the Bank of Maldives, CUP card ...

China to Overtake U.S. to Become Biggest Camera Market in 2015

Canon, the world's biggest camera maker, expects China to surpass the U.S. and become the world's largest camera market in 2015, company sources said on Wednesday. Canon, well known for its EOS and PowerShot digital models, is doubling the number of outlets and boosting its ...

Industries Design Supported in China

Something on the lips of every policy maker of note is the need to transform the mode of growth in China and remake industrial structures from the roots up. And support has come in man forms. Pro-change policies are a help, as are government platforms encouraging companies to ...

China PICC to Expand its Rural Market in 2010

China's PICC Group, a leading Chinese insurer, said Wednesday that it would continue to expand into the rural market in 2010, drawing on the government policies for rural development. Wu Yan, chairman of the Group, said PICC would grasp the golden opportunity created by the ...

64 Mainlanders Make Forbes' Rich List

A total of 64 people from the Chinese mainland made the Forbes magazine list of the world's richest billionaires, moving up to take second place for the first time. The US led the list, released Wednesday, with 403 billionaires. China was followed by Russia with 62 billionaires. ...

NW China Province to Invest 500 mln Yuan to Explore Mineral Resources

Northwest China's Qinghai Province will invest 500 million yuan (about 73.2 million U.S.dollars) to explore mineral resources in the region's Qaidam Basin, according to the province's Land and Resources Bureau. Qaidam Basin, which locates in the north of Qinghai Province, is one ...

China's Automakers Urged to Improve Quality Management

China's Ministry of Information and Technology (MIIT) issued a guideline Sunday, urging the nation's auto producers to establish quality accountability mechanism to improve quality management. The MIIT warned auto production enterprises against blind expansion, urging them to ...

Airlines Look to Expand Direct Flights Between Mainland, Taiwan

Direct flights between the Chinese mainland and Taiwan could be expanded in some major Chinese cities, a senior advisor to the China Air Transport Association (CATA) said Tuesday. Some 3.88 million people had taken the direct flights between the Chinese mainland and Taiwan from ...

Economic Planner Rules out Imminent Start on East China Maglev Line

Officials in east China's Zhejiang Province have ruled out this year for starting construction of a maglev train service between the provincial capital, Hangzhou, and Shanghai. A statement from the provincial development and reform commission Tuesday said the project had no ...

China's Suning Reports Soaring Net Profit in 2009

Suning Appliance Co. Ltd., an electronics retailing giant in China, Tuesday reported that its net profit in 2009 reached 2.89 billion yuan (423.6 million U.S. dollars), up 33.17 percent year on year. In its annual business report filed to the Shenzhen Stock Exchange, the Nanjing...

China to Build New Port to Boost Inner Mongolia's Coal Output

The landlocked coal-rich Inner Mongolia in north China will soon have an open access to ship its coal from a port in its neighboring province to fuel-thirsty customers in eastern and southern regions. A port terminal to be built in Huludao, Liaoning Province, will support an ...

Chinese SOEs to be Barred From Property Development

China's government is set to order some central state-owned enterprises (SOEs) to quit real estate business as their land acquisitions are blamed for fuelling rise of urban housing prices, spokesman of the state assets watchdog Du Yuanquan said Thursday. The State-owned Assets ...

GM China to Recall 7,942 Cadillac CTS Cars

GM China Investment Co., Ltd. is to recall 7,942 imported Cadillac CTS cars in the Chinese mainland from April 28 due to possible brake fluid leakages, China's quality watchdog said Thursday. The rubber part of the brake lining could trap water with impure chemical materials, ...

China Key to Global Tourism Growth in 2010

A senior official with the United Nations World Tourism Organization (UNWTO) said here Saturday that China was expected to contribute a lot to global tourism recovery in 2010. Taleb Rifai, the secretary general of the UNWTO, said global tourism experienced the most difficult year ...

PetroChina, Shell to Buy Australian Energy Company for 3.5 bln AUD

PetroChina Company Limited (PetroChina), China's largest oil and gas producer, announced on Monday that it will ally with Shell through a joint venture to acquire Arrow Energy Limited, an Australian energy company, for 3.5 billion Australian dollars (3.15 billion U.S. dollars).

Rio Tinto Committed to Strengthen Ties with China

Tom Albanese, president and chief executive officer of mining giant Rio Tinto Group, said Monday the company was committed to repairing and strengthening commercial ties with China. The world's second-largest iron ore supplier's ties with China could be traced back 50 years as it ...
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