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China's Banking Industry Expects Growth during 12th Five-Year Plan

Despite profound changes in the global economy, China's banking industry expects steady growth during the 12th Five-Year Plan (2011-2015), a senior banker said Saturday. China's steady and relatively fast economic growth is expected to lay a solid basis for the development of the ...

Chinese Small Medium Enterprise Leaders forum Kicks off in New York

The Chinese small medium enterprise leaders forum was held here on Wednesday, with over 100 Chinese entrepreneurs attending the meeting. Bill Clinton, the former U.S. president, was invited by the forum to give a speech. He said the 21st century was challenging for the world ...

Global IT Product Processing Base in E. China Exports More

East China's Jiangsu Province, home to global IT (information technology) products manufacturing and processing base, exported 103.66 billion U.S. dollars worth of IT products in 2010, a rise of 28.7 percent on 2009, according to the provincial commerce bureau. The amount ...

PetroChina Announces 5.43 Bln USD Investment in Canadian Gas Project

PetroChina Co. Ltd., China's largest oil producer, announced Thursday that it has agreed to buy a 50-percent stake in a natural gas project with North American gas giant Encana Corporation for 5.4 billion Canadian dollars (5.43 billion U.S. dollars). The cooperation agreement ...

Beijing's Auto Market to Shrink 60 Bln Yuan in 2011: Official

Sales revenue of Beijing's auto market in 2011 might shrink by 60 billion yuan (about 9.1 billion U.S. dollars) due to the city limiting the number of cars purchased each month, a commerce official said Saturday. Car sales revenue will drop to 100 billion yuan in 2011 from last ...

China Regulator Says Having Effectively Defused Risks in Fannie, Freddie Bonds

China's foreign exchange regulator said on Saturday that it had effectively defused potential risks in investment in Fannie Mae and Freddie Mac bonds by taking practical and effective measures. China's management of foreign reserves had always been based on safety, liquidity and ...

Shanghai GM to Recall More than 2,800 Imported Vehicles in China

Shanghai General Motors Co. will recall 2,806 imported Cadillac CTS vehicles in China to repair faulty track bars to prevent safety risks, China's quality watchdog said on Monday. The recall, which is set to begin on March 21, includes models that were produced between June 16, ...

China in Talk with Columbia over Transcontinental Railway: Colombian President

The Chinese Government plans to cooperate with Colombia in building a 220km transcontinental railway which would link Colombia's Atlantic and Pacific coasts,according to a British newspaper. The Financial Times quoted Colombian President Juan Manuel Santos as saying on Monday. ...

Chinese Automaker Chery Generates Record Sales of 86,299 in January

Chery Automobile, China's largest automobile exporter, said Tuesday its global monthly sales reached a record high of 86,299 vehicles, an increase of 17.52 percent over the same month last year. Of the total number of units sold, 10,505 were bought overseas, more than doubling ...

Wind Farm of 49.5 MW Connected to Grid in North China's Tianjin

The largest wind farm project in north China's Tianjin Municipality was connected to grid on Tuesday, supplying power enough for 247,500 households a year. The Shajingzi Wind Farm, with 49.5 megawatts of generating capacity in its first phase, could generate 10 million kilowatt...

China to Streamline Rare Earth Industry within Five Years

China will strive to streamline its rare earth industry within five years, said Chinese Premier Wen Jiabao at an executive meeting of the State Council, China's Cabinet, on Wednesday. A document released after the meeting said China should accelerate industrial upgrading and ...

China's Trade Center Begins Operation in Russia

The Greenwood International Trade Center, financed by China Chengtong Development Group, has began operation in Moscow, the Chinese Chamber of Commerce in Russia announced here on Wednesday. Speaking at a press conference, chamber chairperson Cai Guiru said about 70 percent of ...

China's CNOOC Closes Deal for Stake in U.S. Shale Oil, Gas Project

China National Offshore Oil Company Limited (CNOOC Ltd.) announced Thursday that it has closed a deal with U.S.-based Chesapeake Energy Corporation (Chesapeake) for the purchase of a 33.3 percent undivided interest in a shale oil and gas project for 570 million U.S. dollars in ...

China Tackles Rare Earth Industry Reshuffle

Industry experts expect the Chinese government to launch a series of "detailed rules" to upgrade the rare earth industry after Premier Wen Jiabao announced a five-year policy guideline for the industry on Wednesday. "It was the first time that the central government had set a ...

China Auto Sales up 13.8%: Industry Association

China's auto sales rose 13.81 percent year on year in January to hit 1.89 million, a monthly record, the China Association of Automobile Manufacturers (CAAM) announced Friday. Auto output rose 11.33 percent from a year earlier to about 1.8 million units, said a statement from the ...

Chinese Official: South-to-north Water Diversion Project Helps Relieve Drought

China's south-to-north water diversion project is playing a significant role in irrigating wheat crops in drought-hit areas and ensuring that people in the northern part of the country have drinking water, said an official from the State Council. E Jingping, head of the South-to...

China Conducts Lower-than-expected Increase in Gasoline, Diesel Prices

China raised the prices of gasoline and diesel by 350 yuan (about 53.2 U.S. dollars) per tonne beginning Sunday, the National Development and Reform Commission (NDRC) announced Saturday night. The adjustment is the first this year but the second one in the past two months. The ...

China's Huawei Withdraws from U.S. Company Purchase

A leading Chinese telecommunication equipment manufacturer confirmed Monday that it would abandon its efforts to acquire assets of a U.S. computer company as recommended by a security panel. "Huawei Technologies Ltd. has withdrawn its application to the Committee on Foreign ...

China's Anshan Steel to Set up Joint Venture with British Stemcor

China's Anshan Iron & Steel Group Corp. has inked a deal with British Stemcor to set up a joint venture, an official of the Chinese company said Tuesday. Anshan, the state-owned parent company of Ansteel based in northeast China, and Stemcor will each hold a 50 percent stake in ...

Railway Linking NE China, Russia to Resume Operation in May

A rail freight link between northeast China's Jilin Province and Russia is to resume operations in May, six years after its halt amid disagreements among stakeholders, a local official said Wednesday. Owners of the 100-km Hunchun-Makhalino Railway, which links Hunchun in Jilin ...
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