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China CYTS Tours Holding H1 Net Profit up 10%

China CYTS Tours Holding Co. Ltd, a major travel service provider in the country, said Monday it's net profit in the first six months this year rose by more than 10 percent year on year to reach 117.2 million yuan (17.2 million U.S. dollars). The Shanghai-listed company ...

Mainland's Manufacturing Hub Signs Big Deals with Taiwan

Companies from the Chinese mainland manufacturing hub of Guangdong signed deals worth 2.99 billion U.S. dollars with Taiwanese counterparts here Tuesday at the start of the Taiwan-Guangdong Week trade event. The 31 deals involve Guangdong companies buying electronic products, raw ...

BMW to Recall 5,308 Cars in China Due to Fuel Tank Defect

China's quality authority said Tuesday that the BMW China Automotive Trading Ltd. would recall 5,308 imported BMW 5 series GT cars beginning Friday because of a defective fuel tank. The fuel tank problem could stall the engine without warning and the engine might not restart ...

Tibet Receives 3.3 mln Tourists in Jan-July Period

Tibet received 3.3 million domestic and overseas tourists this year to July, 21.9 percent more than a year earlier, a local tourism official said Wednesday. Wang Songping, deputy director of the Tibet regional tourism bureau, said the southwestern autonomous region earned 2.88 ...

China's H1 Gold Output Expands 8.69% to 159.24 Tonnes

China's gold output rose 8.69 percent from a year ago to 159.24 tonnes in the first half of this year, the Ministry of Industry and Information Technology (MIIT) said Wednesday. Gold production in June was about 31.9 tonnes, up from 28.3 tonnes in May, the ministry said in a ...

China Mobile Appoints New CEO, Profit up 4.2% in H1

China Mobile, the world's largest mobile operator by subscribers, Thursday announced a personnel change by re-designating Li Yue, Executive Director and Vice President of the Company as Chief Executive Officer, and reported a 4.2 percent increase in profit for the first half of ...

Floods, Global Wheat Price Hikes not to Affect Grain Prices in China

A rise in international wheat prices and a string of natural disasters this summer would not exert significant pressure on China's grain supplies during the remainder of the year, given the country's large grain reserves as well as government measures to stabilize food prices, ...

Wuhan Iron and Steel H1 profits nearly double on rising sales

Wuhan Iron and Steel Company Ltd., the listed subsidiary of China's third largest steel maker, said Sunday that its net profit rose 90.43 percent year on year to 963.53 million yuan (141.7 million U.S. dollars) during the first half of the year as strong economic growth boosted ...

China's First Colliery Ecology Protection Lab to be Built

Huainan Mining Industry Co. Ltd. in east China's Anhui Province will build China's first colliery ecology protection laboratory to promote the sustainable development of the nation's coal mining industry, the company said. The laboratory's research will include how to control ...

China's Auto Industry H1 Gross Output Value up 49 pct on Subsidy Program

The value of the gross output of China's auto industry surged 49 percent year on year to 2.086 trillion yuan (308 billion U.S. dollars) in the first half of the year, officials at the Ministry of Industry and Information Technology (MIIT) said Monday. At the same time, total ...

Tencent Buys Google-backed Comsenz

Tencent Holdings Ltd has acquired a Google-backed Chinese social networking company for reportedly US$60 million, the country's biggest Internet firm said yesterday. The acquisition marked another step for Tencent, which has leads China's online game and instant message markets, ...

China's Home Appliance Retailer Gome's First-half Profit up 67%

China's home appliance retailing giant Gome announced Monday the HK-listed group has seen its before-tax profit reaching 1.256 billion RMB in the first half of 2010, which represents an increase of 67.47 percent from the same period last year. In a statement released via the HK ...

Trade fair in Beijing to Attract Chinese Investors Abroad

Representatives of multinational companies, international organizations and financial institutions from more than 120 countries will gather at a trade fair in Beijing to persuade Chinese investors to go overseas. The Second China Overseas Investment Fair, approved by the National ...

Chinese Premier Stresses Merger and Acquisition of Coal Mine Industry

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China Surges to 5th Largest Global Investor

China bucked international trends in both outbound and inward investment, official figures have revealed. China now ranks as the fifth largest global investor in outbound direct investment (ODI) with a total volume of $56.5 billion, compared to a ranking of 12th in 2008, the ...

China's Top 500 Enterprises Catching up With World's Largest Businesses

China's top 500 enterprises reported smaller revenue gaps with their U.S. counterparts, while outperforming their worldwide competitors in profitability amid the nation's rapid economic recovery, an industrial ranking report showed Saturday. China's top 500 enterprises chalked up ...

China Southern Airlines Launches Direct Beijing-Tashkent Flights

China Southern Airlines began offering direct flights on Thursday from Beijing to Tashkent, capital of Uzbekistan, to meet rising air travel demand and further strengthen bilateral ties between the two countries. Flights to Tashkent, the largest city in Central Asia, depart ...

China to Create Blacklist to Enhance Quality of "Made in China"

China's Ministry of Industry and Information Technology (MIIT) said Thursday it would urge industrial enterprises to produce high-quality products as part of the effort to enhance the image of "made in China." The Ministry would also draw up a blacklist displaying the names of ...

HK Records 815 mln HKD Surplus in July

An 815 million HK dollars surplus was recorded in the Hong Kong government's financial results for July, but a 9.5 billion HK dollars deficit was still recorded for the financial year's first four months. The Financial Services and the Treasury Bureau of Hong Kong Tuesday said 28...

GM August Sales Drop 25 Percent Year on Year

General Motors Co. Wednesday announced an 11 percent drop in auto sales in August for its four core brands compared with a year-ago when sales were fueled by the government's Cash for Clunkers incentives. The automaker saw a 25 percent decrease in total sales for the month. ...
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