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China Expects a 5% Growth of Net Oil Import This Year

China's net oil imports are expected to total 210 million tonnes this year, National Energy Administration (NEA) said Monday. The volume would be about 11 million tonnes, or 5.5 percent, higher that last year, said Huang Li, vice director of Energy Saving and Science Equipment ...

China Nuclear Power Companies Highlight Green Development

China's nuclear power giants were committed to green development of nuclear energy, said an insider at an exhibition that opened here on Tuesday. Liu Bin, Chief engineer of Huaneng Group (CHNG), a major nuclear power company in the country, made the remarks at the 11th China ...

China Imports More Dairy Products Through Shanghai Port

A total of 27,000 tonnes of dairy products valued at 60 million U.S. dollars were imported through Shanghai Port in the first two months of this year, the local branch of China Customs. The imports were up 8.3 percent year on year, and the value rose 25.5 percent, said a ...

Shanghai Has U.S. Investor for Waste Management

United States-based Waste Management Inc. and Shanghai Chengtou launched a solid waste treatment joint venture Shanghai Environment Group Tuesday, also the largest joint venture in solid waste treatment business in China. Company statement said that Shanghai Chengtou subsidiary ...

China's Demand for Oil Products to Grow 5% Annually

China's demand for oil products will grow at average annual rate of 4 percent to 5 percent in the 2010-2015 period, according to Zhang Fuqin, deputy chief engineer with China Petroleum Planning and Engineering Institute. Zhang said her prediction was based on an annual GDP growth ...

China's Industrial Profit More Than Doubled in First Two Months

Profits in China's major industrial enterprises more than doubled in the first two months this year compared with a year earlier, the National Bureau of Statistics (NBS) said Friday. The NBS attributed the strong growth to economic recovery, growing demand and a low comparison ...

China's Geely Buys Volvo Unit for 1.8 bln U.S. Dollars

China's Zhejiang Geely Holding Group signed a deal worth 1.8 billion U.S. dollars with Ford Motor Co. here Sunday to acquire the U.S. auto giant's Volvo car unit. Under the definitive stock purchase deal, Geely will own 100 percent of Volvo Cars and its related assets. The ...

Chinese Mainland Reports Trade Volume Hike with Taiwan, Hong Kong

The trade volume between the Chinese mainland and Taiwan reached 18.9 billion U.S. dollars in the first two months of 2010, a nearly 80 percent growth year on year, according to a report posted on the Ministry of Commerce website. The figure included 3.7 billion U.S. dollars of ...

China's Sugar Output to Drop About 10% Amid Severe Drought

China's sugar production would drop by nearly 10 percent as the severest drought in a century continued to devastate sugar cane croplands in the country's south, industry associations said Tuesday. China's sugar production this season would see a year on year drop of one million ...

China's Hisense Posts Drastic Net Profit Surge in 2009

Hisense Electric Co., Ltd (Hisense), a major home appliances maker in China, announced Monday that it more than doubled its net profit in 2009. In its annual business report filed to the Shanghai Stock Exchange, the Qingdao-based company said that its net profit rose 121.47 ...

Chinese Vice Premier Urges More Competitive Textile Firms

Chinese textile companies should step up product innovation and industry restructuring to become more competitive, Vice Premier Zhang Dejiang said Tuesday. Zhang made the remarks at the opening of the China International Trade Fair for Apparel Fabrics and Accessories in Beijing. ...

China's Geely Set to Inject $900 mln Operating Capital into Volvo

Chinese auto maker Zhejiang Geely Holding Group is ready to inject 900 million U.S. dollars operating capital into Volvo on top of the 1.8 billion U.S. dollars purchase price, Geely chairman Li Shufu said Tuesday. "We should not only inject money into Volvo, but also endeavor to ...

China to Restrict Soybean Imports

China is expected to curb imports from one of its largest soybean suppliers, Argentina, in a bid to save the domestic soybean industry, trade representatives from a meeting with the government said Wednesday. They did not say if soybeans from the United States, another major ...

China's Leading Liquor Producer Kweichow Moutai Net Profit up 13.5%

Renowned Chinese liquor producer Kweichow Moutai Co., Ltd. announced Thursday its annual net profit in 2009 rose 13.5 percent to 4.31 billion yuan (631 million U.S. dollars) on strong market demand. Its annual business revenue increased 17.33 percent year on year to 9.67 billion ...

Daqin Railway Reports 50% Rise in Q1 Net Profit

Daqin Railway Co. said Monday its unaudited net profit was expected to rise about 50 percent from a year earlier in the first quarter as the country's economic recovery pushed up demand for coal transportation. The company's net profit was 1.46 billion yuan (213.9 million U.S. ...

Six Chinese Airlines Cut Fuel Fees From April 6

Six Chinese airlines will lower fuel surcharges for routes longer than 800 kilometers by 10 yuan (1.46 U.S. dollars) to 40 yuan per capita for adult passengers since April 6, according to their notices to ticket agents. The six airlines include Air China, Shenzhen Airlines, ...

Facebook Plans to Enter China

Popular social networking site Facebook is considering to enter China's internet market, according to Sina.com report Friday. Facebook spokesman Larry Yu said the Palo Alto social media king is "interested in China, just as we are many other countries, and while we are studying ...

China, Costa Rica Ink Free Trade Agreement

China and Costa Rica signed a Free Trade Agreement (FTA) here Thursday to remove trade barriers and enhance bilateral ties, the Ministry of Commerce announced in a statement on its website. The agreement was the first free-trade pact signed between China and a Central American ...

East China province builds first large electric car charging station

The first large electric car charging station in east China's Shandong Province, capable of charging 45 cars at a time, is being built in Linyi City, as part of a program to promote the development of new-energy vehicles. The project, costing 23 million yuan (3.37 million U.S. ...

Chinese white-collar workers seek higher salaries

A new office trend has sprung up this year among Chinese white-collar workers involving the posting of photos of former Miss Hong Kong Li Jiaxin in their offices and making her picture their computer desktop image. It is not that they are necessarily infatuated with her beauty. ...
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