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China unlocks door to foreign security firms

Beijing police ran a media event at Wangfujing on Tuesday to highlight a significant change in the security industry that allows foreign firms to get into the market. The "Security Service Management Regulation", which went into effect on Jan 1, no longer forbids foreign security ...

LiuGong Machinery forecasts soaring profit in 2009

LiuGong Machinery, China's leading manufacturer of crane and construction equipment, edged up 0.87 percent to close at 19.68 yuan ($2.88) per share on Wednesday after forecasting a 137-percent jump in annual net profits last year. In a statement filed to the Shenzhen Stock ...

China Three Gorges buys more into China Yangtze Power

China Three Gorges Corporation (CTGC) increased its stake in China Yangtze Power by over 110 million shares between August 19, 2009 and January 26, 2010, accounting for 1 percent of the company's total share capital, the Shanghai Securities News reported today, citing China ...

Kangmei Pharmaceutical expects 2009 profit to rise 60%

Kangmei Pharmaceutical Co Ltd (Kangmei), a major Chinese medicine maker listed on the Shanghai Stock Exchange, Wednesday forecast its 2009 profits would jump more than 60 percent from the previous year. In a statement filed to the Shanghai Stock Exchange, Kangmei said the profit ...

CNNC unit buying uranium mine stake

CNNC International Ltd, the listed unit of China's largest nuclear power plants operator China National Nuclear Corp (CNNC), said yesterday it would buy a stake in a uranium mine in Niger from its parent for HK$414 million ($53.3 million), and fund the deal by issuing convertible ...

SOHO China seeks M&As

Cash-rich commercial property developer SOHO China will continue to seek merger and acquisition (M&A) opportunities in Beijing and Shanghai this year to expand its business, Chairman Pan Shiyi said. "We will acquire existing commercial properties from institutional investors and ...

Australian mineral explorer teams up with Chinese company

Australian mineral explorer Venus Resources Ltd announced on Monday it had entered into share subscription and joint venture deals with a Chinese entity. Venus recently expanded its exploration focus to identify world-class iron ore, precious metals, uranium and base metal ...

CSIC posts 18.5% increase in profit in 2009

One of China's two leading State-owned shipbuilders, China Shipbuilding Industry Corporation (CSIC), said Sunday that its profit in 2009 jumped 18.5 percent to 7.39 billion yuan ($1.1 billion). The Beijing-based conglomerate, which consists nearly 50 industrial subsidiaries and ...

Poly Real Estate sees profit surge on property boom

Poly Real Estate Group Co, Ltd, China's leading property developer, estimated on Sunday its profit shot up around 50 percent in 2009 boosted by strong sales and rocketing property prices. The profit was expected to total 2.24 billion yuan ($329 million), the Shanghai-listed ...

Melamine-tainted products go off shelves

Three companies have been found selling milk products tainted with melamine, the industrial chemical responsible for the deaths of six children and injuring 300,000 in 2008. Three batches of milk products have been ordered off shelves by the health department in Guizhou province ...

Anshan Steel's Fujian deal may signal coastal move

Anshan Iron & Steel Group, China's fourth largest steel maker, has agreed to help restructure the steel industry in Fujian province, indicating that the firm may build a new mill in the southeastern province. Anshan Steel and the Fujian provincial government signed a strategic ...

US launches trade probe against Chinese drill pipe

The US government will investigate charges against import of oil well drill pipe from Chinese companies, said the Commerce Department on Thursday.The case, which was filed by the United Steelworkers union and a group of companies from Texas and Illinois, is the first US trade ...

China to receive much more cruise ship visits this year

China's cruise economy kept growing as liner departures from and visits to Chinese harbors increased steadily in 2009, industry insider said Friday.China Cruise and Yacht Industry Association told Xinhua Friday that China's cruise ship market will grow rapidly this year with ...

Chinalco's sales revenue at 142b yuan last year

The Aluminum Corp of China (Chinalco), the country's top aluminum producer, said on Thursday its sales revenue reached 142 billion yuan ($21 billion) last year.The company has yet released its profit figures. Sales revenue was 126 billion yuan in 2008. Chinalco said its business ...

Chinese companies to build solar plant in Bulgaria

Two Chinese companies, Polar Photovoltaics and Wiscom, have proposed to invest $7 million to build a 2-mW photovoltaic plant near Ihtiman, 40 km south from Bulgarian capital Sofia. The two companies and their Bulgarian partner SunSERVICE presented their proposal to the Ihtiman ...

Bayer unit bolsters polymer project

SHANGHAI: Bayer MaterialScience, a unit of German industrial giant Bayer, has committed to continuing its investment in a toluene diisocyanate (TDI) project in Shanghai with the goal of expanding the production site, a top company executive said. The company, one of the world's ...

Disney strike ends

SHENZHEN: More than 100 striking workers of a sporting goods manufacturing factory, linked with the Walt Disney Company, returned to work after reaching a preliminary agreement with their employer in Dongguan, Guangdong province, yesterday. The workers in team B of the printing ...

Ping An premium income up in 2009

Ping An Insurance (Group) Co of China, the country's second-largest insurer, saw its life and non-life insurance premium income grew 31 percent and 44 percent in 2009, thanks to a better supporting platform and innovative services, the company's top management said today. The ...

CIMC to acquire 75% stake in F&G

China International Marine Containers (Group) Ltd (CIMC) said Tuesday it would acquire a 75-percent stake in Friede & Goldman United (F&G), a US-based naval architecture and marine engineering firm for the offshore drilling market. In a statement filed to the Shenzhen Stock ...

Philippine Airlines adding flights for Chinese New Year

MANILA: Philippine Airlines will increase flights to cater to rising demand from travelers during the lunar Chinese New Year, which falls on February 14 this year. The airlines will arrange a special charter flight, A320, from Chengdu, capital of southwest China's Sichuan ...
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