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Chinese steelmakers urged to build plants abroad: SHANGHAI - Chinese officials and experts Tuesday suggested the nation's steel producers set up plants abroad to avoid a rising number of international trade barriers.Opening steel mills in regions with abundant raw materials and strong market demand abroad would be easier than ...

China, Qatar ink MoU on energy, financial co-op: BEIJING: The governments of China and Qatar on Wednesday signed a memorandum of understanding (MoU) to strengthen cooperation in the energy and financial sectors. Chinese Premier Wen Jiabao and visiting Qatari Prime Minister and Minister of Foreign Affairs Sheikh Hamad bin Jasim ...

China to implement resource tax in western regions: China, the world's second-biggest energy consumer, plans to impose a new tax on the extraction of coal, oil and gas in the country's western areas as part of a push to develop the region's economy. The country will change the resources tax in the region to a price-based rather ...

China promises bigger private role in industry: China's Cabinet promised private investors a bigger role in industries from oil drilling to finance, and also promised to help private companies invest more abroad. The State Council issued an announcement Monday which included a five-page list of areas where the government ...

China may pay roubles for Russian timber, seafood: China wants to pay in roubles for Russian timber, coking coal and seafood, as the two countries seek to boost trade in national currencies and reduce reliance on the dollar, Reuters reported on Dec 6, citing a Russian central bank official. Russia's MICEX exchange will start ...

China launches new commercial debt product: SHANGHAI - Three Chinese companies will issue China's first "super and short-term commercial paper" (SCP), Reuters reported Wednesday, citing the National Association of Financial Market Institutional Investors (NAFMII). China National Petroleum Corp (CNPC), Sinopec Corp and the ...

China to nurture 7 new strategic industries in 2011-15: BEIJING - China will nurture and develop seven new strategic industries with favorable policies in the next five years, according to an official document released Wednesday. The document, the Communist Party of China (CPC) Central Committee's Proposal for Formulating the 12th ...

PetroChina's Q3 net profit down 23.2%: PetroChina Co, the listed subsidiary of China's biggest oil and gas producer, reported Wednesday a net profit of 30.8 billion yuan ($4.51 billion) in the third quarter, down 23.2 percent from a year earlier. Earnings per share were 0.17 yuan, declining 23.2 percent year-on-year, ...

PetroChina spends $1.4b in parent finance unit: PetroChina Co will spend 9.62 billion yuan ($1.41 billion) to raise its stake and increase the capital in the parent's finance unit to facilitate funding as China's biggest oil company accelerates overseas acquisitions. The shareholding in China Petroleum Finance Co, majority ...

CNOOC Ltd's net profit falls 33.6% in 2009: BEIJING: China National Offshore Oil Company Limited (CNOOC Ltd), a listed subsidiary of China National Offshore Oil Corporation (CNOOC), Wednesday announced its annual net profit dropped 33.6 percent in 2009 to 29.49 billion yuan ($4.32 billion). In a statement filed to the Hong ...

CNOOC Ltd says oil, gas output up 31.9% in Q1: BEIJING: China National Offshore Oil Company Limited (CNOOC Ltd) said Wednesday that its total net production increased 31.9 percent year-on-year to 67.3 million barrels of oil equivalent in the first quarter. The total unaudited revenue of CNOOC Ltd in the first three months of ...

PetroChina's net profit up 71.2% in Q1: BEIJING: PetroChina Co, 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) while earnings per ...

Daqing oilfield crude output at 20m tons in H1: HARBIN - Daqing Oilfield Co, the largest oil subsidiary of PetroChina, produced 20.07 million tons of crude oil in the first half, the company said Friday.Natural gas output reached 1.66 billion cubic meters in the same period, it said in a statement.Last year, its crude ...

Changqing crude output to exceed 18m tons in 2010: XI'AN - PetroChina's second-largest oil and gas subsidiary, Changqing Oilfield, will raise its crude output by 14.5 percent to 18 million tons this year, the company said Wednesday.PetroChina is the listed arm of China National Petroleum Corporation (CNPC), the country's largest ...

China industrial profits up 53.5% in first 9 months: BEIJING - Chinese industrial profits rose 53.5 percent year on year in the first nine months of 2010, the National Bureau of Statistics (NBS) said Thursday. That growth rate was 2.8 percentage points lower than that in the first eight months. It was also lower than the 81.6...

PetroChina sees profit up 23% by Q3: BEIJING - PetroChina Company Limited (PetroChina), China's largest oil and gas producer, reported Wednesday that net profits surged 23 percent year on year in the first nine months. Net profit totaled 100.03 billion yuan ($14.93 billion) and earnings per share stood at 0.55 yuan ...

PetroChina's H1 profit surges 29.4%: BEIJING - PetroChina Company Limited (PetroChina), China's largest oil and gas producer, said Thursday that its first half profit rose 29.4 percent year-on-year due to soaring crude oil prices and rising oil and gas output. Special Coverage:2010 Interim Results of Listed ...

PetroChina sees profit up 23% by Q3: BEIJING - PetroChina Company Limited (PetroChina), China's largest oil and gas producer, reported Wednesday that net profits surged 23 percent year on year in the first nine months. Net profit totaled 100.03 billion yuan ($14.93 billion) and earnings per share stood at 0.55 yuan ...

Unconventional gas demand set to soar by 2020: Development of sector fits well with nation's move to use cleaner energy BEIJING - China, which now relies on coal for around 70 percent of its energy use, will see rapid growth in the consumption of unconventional gas including coalbed methane, shale gas and flammable gas in the ...

Siemens steps up green goal: Europe's largest engineering company Siemens said its environmental portfolio would generate order intake of 4 billion euros in China in 2010. This equates to 40 percent of the company's total orders in China for 2010, said Richard Hausmann, president and CEO of Siemens China. ...

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Lucrative golf industry lures stiff competition: Two models stand beside golf equipment and bags at a recent golf ...

Yao's gift of sport for all: Chinese NBA player Yao Ming teaches a boy with special needs how to ...

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