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COSCO to increase US-Asia cargo rates

China COSCO Holdings Co and nine other shipping firms are planning to increase rates for hauling containers to Asia from the US in a bid to stem losses on transpacific routes. The new rates are expected to be effective from April 1 this year and are part of the Westbound ...

Air China orders 20 A320s for $1.63b

Air China, one of the three major civil aviation companies in the country, said Thursday that it has ordered 20 Airbus A320 planes to promote its fleet capacity on growing demand. In a statement to the Shanghai Stock Exchange, Air China said that the planes of the $1.63 billion ...

Burger King steps up pace with six more outlets in Beijing

Fast food chain Burger King is planning to open six more restaurants in Beijing by June next year, as part of a major expansion in China. The company, which has 25 outlets in the country, officially opened its first restaurant in downtown Beijing this week in Joy City in the ...

Luxury hotel group planning expansion

Luxury hotel group Kempinski Hotels is doubling the number of hotels under its management in China over the next three years to capitalize on the nation's fast economic recovery, said a top company official yesterday. The German firm is also launching a new five-star hotel brand ...

Smelters vying for Tonghua Steel

Three of China's top steel makers are looking to purchase Tonghua Iron & Steel Co Ltd in Jinlin province, months after a Beijing company's merger of the smelter flopped due to a worker protest in July, the China Business News (CBN) reported today. The state-owned Tonghua Steel is ...

China issues regulation to encourage joint ventures

China announced Wednesday a regulation to standardize and encourage the establishment of joint venture enterprises by overseas investors. According to the regulation, which will take effect from March next year, the government is to encourage overseas investors with advanced ...

Haier brings white goods operations under Shanghai umbrella

White goods maker Haier is consolidating its home appliance business by integrating its two subsidiaries listed in Shanghai and Hong Kong, said company executives yesterday. Shanghai-listed Qingdao Haier Co Ltd is planning to buy a 31.93 percent stake in Haier Electronic Group Co ...

Teck may reap gains from CIC alliance

Teck Resources Ltd, Canada's largest base-metals producer, said its partnership with China's sovereign wealth fund will win the company more coal, copper and zinc sales and provide financing for future acquisitions. China Investment Corp (CIC), which bought about 17 percent of ...

Peking Roast Ducks available through mouse clicks

An online store devoted to promoting historic Beijing brands sells everything from Peking Roast Ducks to traditional Chinese medicine (TCM), and probably can have it all delivered, as well. Laozihao Eshop (lzheshop.cn) sells goods from 108 historic Beijing brands and 45 ...

China Mobile moves to fight porn criticism

Mobile communication giant China Mobile has frozen contracts with its mobile Internet partners in order to stem criticism that pornography was being sold through its network. The move means it will not collect fees for its online partners, rendering paid services unavailable. ...

Sinosteel taps Turkish market

With competitive prices and improved quality, China's steel giant Sinosteel Corporation is exploring the market potential in Turkey's steel industry as an equipment provider and contractor. The Sinosteel Equipment and Engineering Co Ltd (Sinosteel MECC), a subsidiary of Sinosteel...

China State Construction not exposed to Dubai debt crisis

China State Construction Engineering Corp (CSCEC), the largest contractor in China, said Saturday that it had "no business relations" with the troubled Dubai World and its business in the Emirate would not be affected. This followed share price falls in response to media reports ...

Geely says Volvo to retain technology after purchase

Geely Holding Group Co, the Chinese carmaker in talks to buy Volvo Car Corp, said the Swedish company would retain ownership of technology following a sale by Ford Motor Co. Geely, which is offering to buy 100 percent of Volvo, has financing in place for the deal, Yuan Xiaolin, a ...

Lenovo to buy back cell phone arm

Lenovo Group said on Friday that it would spend $200 million to buy back the cell phone business it sold to a group of investors last year. Lenovo had spun off its mobile phone unit in February for $100 million to boost profitability.

SF Express to enter air cargo industry

SF Express will soon become China's first private courier to enter the air cargo industry, the Oriental Morning Post reported. The Civil Aviation Administration of China (CAAC) said in a statement posted on its website on Nov 24 that it will issue an air transport business ...

Negotiations between Chinese writers and Google at standstill

On Nov 20, Erik Hartmann, head of Google Book Search Strategic Partnership Development for Southeast Asia, came to China for the second round of talks with China Written Works Copyright Society (CWWCS). The dispute is over copyright issues of books being scanned and made ...

Minsheng Bank down 3.08% on H-share debut

China Minsheng Banking Corp fell 3.08 percent in its Hong Kong debut on Thursday after raising approximately HK$30 billion in the city's biggest initial public offering since April 2007. Shares of Minsheng Bank closed at HK$8.8 near an intraday low, compared with its initial ...

Shanda plans expansion, inches close to Ku6 buy

Chinese media company Shanda Interactive Entertainment Ltd is acquiring video website Ku6.com, in an effort to expand its market share in the interactive entertainment segment. Shanda has agreed to buy Ku6.com, a source familiar with the matter told China Daily yesterday, ...

Yunnan Chihong may raise 1.8b yuan

Yunnan Chihong Zinc & Germanium Co, the country's fifth-largest zinc smelter, said yesterday it plans to raise up to 1.8 billion yuan in a rights offer to expand its lead and zinc production capacity. Yunnan Chihong will offer three shares for every 10 at a price of 7.69 yuan ...

Fidelity's Bolton to focus on China fund

Fidelity International's Anthony Bolton, one of the UK's best known and top performing asset managers, said he plans to return to managing money next year, with a focus on the increasingly important China market. Bolton, who retired from active fund management in 2007, said he ...
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