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Top Chinese TV Maker TCL Foreign Sales Surge in March

China's top TV maker, TCL Corp, said Monday its March overseas sales of LCD TVs more than doubled in Europe and more than tripled in emerging markets. The home-appliance maker said it sold 112.6 percent and 244.9 percent more LCD TVs in Europe and emerging markets, respectively, ...

China's Q1 Power Consumption Jumps 24% to 970 bln KWhs

China's electricity consumption in the first quarter rose 24.19 percent year on year to 969.5 billion kilowatt-hours (kWhs), the National Energy Administration (NEA) said in a statement on its website Tuesday. The figure was 10.5 percentage points higher than the January and ...

Chinese City Home Prices Soar Nearly 12% in March as Property Market Continues to Hot up

China's property market continued to hot up in March with home prices in major cities growing at a double-digit pace, even as the government tries to rein in prices, official data released Wednesday showed. Home prices in China's 70 large and medium-sized cities including Beijing...

China Raises Retail Prices of Gasoline and Diesel

China's top economic planner said late Tuesday it would raise prices of gasoline and diesel both by 320 yuan (46.88 U.S. dollars) per tonne from April 14. This comes as the first such move in nearly five months since it raised gasoline and diesel prices both by 480 yuan per tonne ...

China's Steel Makers to Raise Products Prices on Rising Production Costs

Wuhan Iron and Steel Group, China's third-largest steel maker, said it would raise prices on key steel products by 500 yuan (73 U.S. dollars) per ton from May on rising raw materials costs. Other major steel makers including Baosteel and Anshan Iron and Steel Group are also set ...

Haier Becomes New Zealand Expo Sponsor

Haier, the world's largest manufacturer and marketer of whiteware, is now one of three foundation sponsors of the New Zealand pavilion at Shanghai World Expo, which officially opens on May 1. Haier is one of China's largest companies, with 29 manufacturing centers and 60,000 ...

China's Coal Output up 28.1% in Q1

China's coal output grew 28.1 percent year on year to well over 751 million tonnes in the first quarter, the National Bureau of Statistics (NBS) said Thursday. The increase indicates China has built up a large coal production capacity after a rapid growth in fixed asset ...

China Cracks Down on Property Speculation

The Chinese government has raised the down payment for second-home buyers to a minimum 50 percent of the value from 40 percent, in a bid to curb property speculation. The decision was announced in a statement released Thursday after conclusion of an executive meeting of the State ...

China's Foreign Trade Volume to Hit $5.3 tril in 2020

China's trade volume will reach 5.3 trillion U.S. dollars by the year 2020, Li Gang, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, said Sunday. Li made the remakes at the ongoing 107th China Import and Export ...

China's Index Futures Milestone Step to Develop Capital Market

China launched its decade-long awaited index futures Friday, a milestone in the country's efforts to push the reform of capital market. The new index saw a strong debut Friday, in contrast with a dip in the country's broader stock market, as investors swarmed toward the new ...

Green Energy Needs Huge Spend

China needs an additional investment of $64 billion annually over the next two decades to implement an "energy-smart" growth strategy, the World Bank said. Such investment should be aimed at making the power and transport sectors more efficient and developing renewable energy, ...

China Eastern to Become SkyTeam Alliance Member by 2011

China Eastern Alliance Corp., one of the three leading Chinese carriers, signed a memorandum of understanding (MOU) with the SkyTeam alliance, a group of global airlines led by Korean Air Lines Co., the South Korean carrier said Friday. Under the preliminary deal, China Eastern ...

NDRC Works out Green Measures

More policy tools are being worked out to encourage energy conservation and the use of renewables to propel the development of China's energy-saving industries, an official from the National Development and Reform Commission (NDRC) said. Speaking at an energy conference, Xie Ji, ...

CSRC Issues Futures Guidelines for Brokerages, Funds

The China Securities Regulatory Commission (CSRC) on Friday issued guidelines for securities firms and equity funds to trade stock index futures in a move to regulate their investments and manage potential trading risks. Securities firms should trade index futures for hedging ...

China Opens Intellectual Property Rights Website

China opened a website for intellectual property rights Monday. The website, www.court.gov.cn/zscq,run by The Supreme People's Court of China, is a platform for disseminating information relating to protection of intellectual property rights (IPR). Information such as judicial ...

Financing Remains Major Difficulty for Chinese Companies' Outbound Investment

Difficulty in accessing finance remains the biggest problem for Chinese companies investing overseas, China's trade promotion body said Tuesday. In a report on Chinese enterprises' external investment released Tuesday, China Council for the Promotion of International Trade (CCPIT...

PetroChina's Net Profit up 71.2% in Q1 2010

PetroChina Company Limited (PetroChina), China's largest oil and gas producer, said Tuesday its net profit for the first quarter rose 71.2 percent year on year due to soaring crude oil prices and rising domestic demand. Net profit totaled 32.492 billion yuan (4.75 billion U.S. ...

China Merchants Bank Q1 Net Profit up 40.42% on Interest Income

China Merchants Bank, the country's six largest lender, said late Wednesday its net profit jumped 40.42 percent year on year to 5.909 billion yuan (865 million U.S. dollars) in the first three months of 2010. In a statement filed with the Shanghai Stock Exchange, the lender said ...

China's industrial profit more than doubled in Q1

The tobacco industry saw a 10.6-percent decline in profits. Core business revenues of the companies reached 11.58 trillion yuan in the first three months, up 39.6 percent from a year earlier. The growth rate was 1.5 percentage points down from that of the first two months. The 24 ...

Steel Prices to Remain High

Steel prices will continue to remain at high levels this year, with mild fluctuations, on the back of rising raw material costs and a shortage of iron ore, a top industry association official said on Wednesday. The big three global miners, BHP Billiton, Rio Tinto and Vale, are ...
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