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HK Gov't Land Sold for 1,285 mln HKD

The Lands Department of Hong Kong Tuesday held the sixth land auction of the 2010/11 financial year, with a government lot at Kowloon Tong sold for 1,285 million HK dollars (165 million U.S. dollars). The auction was conducted at Tsuen Wan Town Hall on Tuesday afternoon. The ...

China's Haier Co. Net Profit Jumps 52% on Expansion of Market Share

Qingdao Haier Co., Ltd, one of the world's leading white goods and household appliance manufacturers, said Friday that its net profit in the first half year jumped 51.83 percent on expanding market share. Net profits hit 1.08 billion yuan (160 million U.S. dollars) in the first ...

China Railway Group Net Profit up 6.63% in H1

China Railway Group Ltd., one of China's leading heavy construction firms, said Monday its net profit in the first half of 2010 rose 6.63 percent year on year. Net profit totalled 3.285 billion yuan (482.88 million U.S. dollars) and earnings per share stood at 0.15 yuan, up 7.14 ...

Beijing to Open Another Subway Line

The new Beijing subway Fangshan Line began test operations Saturday and will open to traffic by the end of this year, adding another line to Beijing's sprawling subway network. The 25-kilometer light rail line will link Beijing's central districts with Fangshan District, its ...

High-speed Railways in South China to Exceed 5,000 km by 2012

China will complete building 5,000 kilometers of high-speed railways in the mainland's southern region by 2012 to accelerate its economic integration with the business vibrant Hong Kong and Macao, a senior industry official said Saturday. The rail tracks, to be laid in the ...

China's Industrial Profit up 61.1% in First Seven Months

Profits of Chinese industrial enterprises in 24 regions climbed 61.1 percent year on year to 1.88 trillion yuan (275.90 billion U.S. dollars) in the first seven months, the National Bureau of Statistics (NBS) said Friday. The growth rate was 10.7 percentage points lower than that ...

Chalco Aims to Widen Income

Aluminum Corp of China Ltd (Chalco) aims to diversify into coal and iron ore in a bid to widen its earnings channel because higher costs have pushed the country's leading aluminum smelter into the red in the second quarter. Chalco plans to build two to three coal production bases ...

U.S.-China Real Estate Summit Opens in Los Angeles

The 2010 U.S.-China Real Estate Summit kicked off Thursday in San Gabriel, Los Angeles with the aim of building relations between top real estate players in the two countries. During the two-day summit, officials from all levels of both countries and experts in real estate...

China to Lift Installed Hydropower Capacity by 50% on Emissions Concerns

China will expand its installed hydropower capacity to 300 million kilowatts by 2015 from the current 200 million in an effort to cut carbon dioxide emissions, the country's top energy official said here Wednesday. Zhang Guobao, director of the National Energy Administration (NEA...

China Outlines Roadmap in Developing Emerging Industries of Strategic Importance

The Chinese government on Wednesday stressed the importance for the country to step up efforts to develop emerging industries of strategic importance. The statement was issued following an executive meeting of China's State Council, or the cabinet, which was chaired by Premier ...

China's Farm Produce Prices Rise for 11th Straight Week

The price of edible farm produce in China's 36 large and medium-sized cities has risen 11 weeks in a row, the Ministry of Commerce said Tuesday, indicating greater inflationary pressure this month. In the week ending Sept.5, farm produce prices rose 0.2 percent in those cities ...

Intellectual Property Rights Protection Improving in China

China's intellectual property rights protection system is improving thanks to a cooperative project between China and the European Union, senior officials said. At an event at the Belgium-EU Pavilion in the Expo Garden on Saturday, Benot Battistelli, president of the European ...

Region Promotes its Coal and Water Resources

Ningxia has plans to develop a 170,000 sq km area in the autonomous region through a "Famous Yellow River Towns Project" embracing 10 of its cities along the river. The 397-km long banks of the Yellow River - including the cities of Yinchuan, Shizuishan, Wuzhong and Zhongwei - ...

China's Geely Eyes Online Car Sales

China's "Henry Ford," Li Shufu, founder and chairman of Geely Automobile Holdings, stunned the world when Geely acquired the 82-year-old luxury-car-maker Volvo earlier this year. Now he is out to shock the world's auto industry again -- this time by selling cars online. Geely, ...

Coca Cola's Largest China Bottling Plant to Open in October

Coca Cola, the world's largest beverage maker, will begin operations at its largest bottling plant in China, a 900-million-yuan (132-million-US dollar) investment in Luohe City of central China's Henan province, by the end of October this year. "We are very positive and committed ...

China UnionPay, MasterCard Sign Cooperation Deal

China UnionPay and MasterCard Worldwide announced Tuesday that they have signed a Memorandum of Understanding for future business development. The agreement seeks to set up a cooperation mechanism for both sides and the two companies plan to form working groups to discuss and ...

China's Old-for-new Car Scheme Gaining Momentum on Higher Discounts

China's old-for-new car scheme is gaining momentum after the authorities raised the subsidy levels at the start of this year, the Ministry of Commerce (MOC) announced Tuesday . In the first eight months, a total of 210,000 automobiles were sold under the program, 690 percent up ...

Central China City Blacklists 10 Companies for Defaulting

Central China's Changsha City, capital of Hunan Province, blacklisted 10 defaulting companies and their legal representatives Wednesday to prevent them from making additional purchases prior to paying off their existing debt, a spokesman with Changsha Intermediate People's Court ...

Growth Model Transformation the Major Task for China

Robert Zoellick, President of the World Bank (WB), said Wednesday the major task for China in the future is adjusting its economic structure and accelerating the transformation of its growth pattern. Zoellick made the comments at a press conference during his visit to Beijing to ...

Innovative Green Technologies Help China's Drive to Save Energy, Cut Emissions

The Chinese government's investment in research and development of green technologies has exceeded 10 billion yuan (1.47 billion U.S. dollars) for the 2006-2010 period. Zhang Laiwu, vice minister of science and technology, made the remark Thursday at a press conference in Beijing...
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