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Air China to Buy 20 Boeing Planes for $1.398 bln

Air China, China's leading carrier listed in Hong Kong, said late Friday that it would pay 1. 3 98 billion U.S. dollars to buy 20 Boeing 737-800 planes. In a statement filed to the HK stock exchange, the carrier said the cost would be "payable by cash in installments" and it ...

Insurers Shy Away From Investing in Interbank Bonds

Interbank bonds are not appealing to insurers due to tight market controls put on by the regulators, said insurance executives at the Lujiazui Forum 2010 held over the weekend in Shanghai. Investors are not interested in the interbank bonds, the business website of ifeng.com ...

Foxconn to Build New Plant in Central China, Bringing 300,000 Jobs

Foxconn is to build a new plant in Zhengzhou City, capital of central China's Henan Province, municipal authorities said Tuesday. Foxconn and senior officials of Zhenzhou and Henan are working on the details of an agreement to build the plant, said a spokesman for the municipal ...

Baidu to Explore Silicon Valley

Baidu, the largest Chinese Internet search engine, plans to recruit at least 30 engineers from the Silicon Valley at a job fair in the United States on July 10, the first step of their global recruitment plan. All the positions, including R&D engineers, software architects, ...

China Scraps Tariff on 60 pct of Imports From 26 African Nations

China's Ministry of Commerce (MOC) announced Thursday that the country will cease levying tariffs on 60 percent of imports from 26 least developed African nations, including Ethiopia and Liberia. This policy went into effect July 1, an MOC spokesman said Thursday. The spokesman ...

China's Population to Near 1.4 bln by 2015

The population of China, the world's most populous country, is projected to reach 1.39 billion by the end of 2015, with those aged 60 or over topping 200 million people, said Li Bin, head of the country's top population policy agency. Li, director of the National Population and ...

China's Auto Sales up 30% to 7.18 mln

China's automobile sales surged 30.45 percent year on year to 7.18 million in the first half of the year, the China Automotive Technology & Research Center (CATRC) said Monday. Auto production, meanwhile, jumped 44.37 percent year on year to 8.47 million units in the period. ...

China's IPOs Expected to Raise Over 500 bln Yuan in 2010

Chinese companies are expected to raise over 500 billion yuan (73.8 billion U.S. dollars) through initial public offerings (IPO) this year, making the country the world's largest IPO market, PricewaterhouseCoopers (PwC) announced on Monday. In the first half of this year, 176 ...

China's Housing Prices "to Fall in Q4"

Property prices are likely to start falling in the last quarter of the year as tightening measures for the sector continue, officials and analysts have said. Dropping sales volume and stagnant prices could lead to a deeper price slump in the market, Minister of Land and Resources ...

Soaring Wheat Prices in China Make Farmers Reluctant to Sell

Chinese farmers are holding their wheat and reluctant to sell on expectations that the current high prices would continue to rise as market reflects that wheat production and quality might be affected by persistent low temperatures during the growing season. "Wheat prices at some ...

State Grid Warns of Temporary Power Shortages in Some Areas of China

China may face temporary power shortages in some regions this summer due to the rapid increase in consumption, the country's major power grid operator said on Tuesday. Power shortages will occur in central, eastern and northern parts of the country during peak summer hours, as ...

Green Autos Drive China's Economic Future

On June 30, the Chinese government announced hefty subsidies for green vehicles, which will play a crucial role in the development of a domestic green auto industry. It is a smart investment for China as the country is relying on its massive and ever-expanding auto market to be ...

Gold Rush Pushes Trading to Record High

Domestic investors' gold frenzy pushed trading volume of the yellow metal to an historic high in the first half of the year, with gold imports also surging to a record. China's gold price increased 25.2 percent in the first half of 2010 to reach an average of 251.9 yuan ($37.16) ...

Chongqing Aims to Build Biggest IT Manufacturing Base in Asia

Chongqing, the populous economic hub in southwestern China, never seems to be out of the limelight. After launching a sweeping crackdown on violent gangs last year, the city is now setting its sights on building Asia's largest manufacturing base for information technology (IT) ...

Shanghai Shines Bright on the Financial Front

Shanghai is the eighth most competitive financial center worldwide according to a report issued on Thursday by Xinhua-Dow Jones International Financial Centers Development Index (IFCD Index). The report said that New York is the world's top financial center, with London and Tokyo ...

Chinese Retailers Battle for Market Share

Tesco, one of the world's largest retailers, told the Global Times Sunday that the company expects to open 23 stores in China this year, a move to compete with perennial giants Carrefour and Wal-Mart. "The new stores will be mainly located in satellites cities around the ...

China's Housing Prices Grow Slower

Housing prices in major Chinese cities rose 11.4 percent year on year in June, one percentage point lower than the increase in May, the National Bureau of Statistics (NBS) said Monday. This was the second consecutive month that China's property prices grew at a slower pace. ...

China's Steel Output in 2010 May Hit New High

China's steel output in 2010 might hit a new high of 620 to 630 million tonnes, a 10 percent increase year on year, Minister of Industry and Information Technology Li Yizhong forecast at a forum Monday. China's steel output reached 269 million tones in the first five months of ...

June Exports Hit Record High

China's exports for June hit a record high since July 2008 and the trade surplus also surged to the highest this year, but economists insisted such strong momentum cannot be sustained and there is little possibility that the yuan will gain by large margins, as widely expected ...

China's Biggest Metals Trader to Invest 1 bln Yuan in Rare Earth Processing in Jiangxi

China Minmetals Corp, the nation's largest metals trader, is considering to invest 1 billion yuan (148 million U.S. dollars) for rare earth processing projects in Ganzhou City of Jiangxi province over the next two years. The move, taken to gain mining rights for the valuable ...
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