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Google apologizes to Chinese writers

Google said its communication with Chinese authors was "not good enough" after it published sections of their work in its online library Google Books without their permission. Chinese writers accused Google of copyright infringement last October when the search engine used ...

Hutchison to buy out its telecom company

Billionaire Li Ka-shing's Hutchison Whampoa Ltd offered to take a phone unit private for HK$4.23 billion ($545 million) in cash after the stock underperformed the Hong Kong benchmark index for three years. Hutchison Whampoa on Friday said it would seek the 40 percent of Hutchison ...

XD Electric plans to raise $1.13b through IPO

China XD Electric Co, the nation's biggest maker of electricity transmission and distribution equipment, plans to raise about 7.72 billion yuan ($1.13 billion) through an initial public offering (IPO) in Shanghai. The Xi'an-based company will sell as many as 1.307 billion shares, ...

Hanvon debuts eBook products for US

Chinese eBook giant Hanvon Thursday unveiled an array of new products for the US market, including more than 10 eBook readers and electromagnetic touch tablet devices, at the International Consumer Electronics Show (CES). A world leader in handwriting recognition technology, ...

Yanzhou Coal mulls overseas acquisitions

Yanzhou Coal Mining Co, China's third-largest coal producer, is scanning the market for additional coal acquisitions in overseas markets after becoming the new owner of Australia's Felix Resources Ltd. Analysts say that while the time is right to snap up foreign energy companies, ...

Ford to outpace China market in 2010

Ford Motor Co posted a 44 percent jump in its China vehicle sales in 2009, and aims to outpace growth in the world's largest auto market this year, banking on continued state policy incentives to drive demand. Ford, which broke ground for a $490 million new China plant in ...

Sales soar for China's largest property developer in 2009

China Vanke Co, the country's largest real estate enterprise, said its annual sales jumped 32.5 percent year-on-year to 63.4 billion yuan ($9.3 billion) in 2009. The floor space Vanke sold last year rose 19.1 percent from a year earlier to 6.63 million square meters, it said in a ...

US duty shocks for wire deckers

The US decision to slap additional duties on wire decking products from China is likely to hit domestic manufacturers hard, forcing them look for greener pastures in other overseas markets, said industry sources. Additional duties of 43 to 289 percent on imports of more than $300 ...

Steel mills flummoxed as spot iron ore prices head north

Surging spot prices of iron ore delivered to China have further complicated this year's negotiations with key suppliers. Price of the 63.5 percent iron-content ore rose to $129 per ton including freight yesterday, after India raised taxes on exports, up 6 percent from last week ...

Exclusive online branding of footwear, clothing to expand

Shopping on the Web recently, shoe aficionado Cai Xiaohua was elated to discover a footwear brand, available only online, that was both cheap and similar in style to her favorite brands. Fortunately for Cai, she and many other online shoppers will be seeing more of the same in ...

Corruption charges filed against SOE executives

Thirty-five senior executives of large State-owned enterprises (SOEs) faced corruption charges last year. A report by Faren Magazine, affiliated with the Legal Daily and overseen by the Ministry of Justice, examined 95 serious criminal cases against executives of both State and ...

Bright Food gets nod to increase stake in listed unit

The restructuring of State-owned enterprises in Shanghai took another step yesterday with Bright Food (Group) Co getting the approval from the authorities to acquire Shanghai Industrial Holdings' (SIH) stake in dairy firm Bright Dairy & Food Co. Bright Food, the parent company, ...

Shaanxi halts fireworks production after deadly explosion

Northwest China's Shaanxi province has suspended all fireworks production, after a firecrackers factory explosion claimed nine lives on the first day of the New Year. The provincial government on Sunday urged production safety supervision departments to work with public security ...

Annual bonuses fall victim to hard times

Sitting in the grand, but quiet, hotel lobby, Xie Yixin sighed. The saleswoman for the foreign-owned five-star property in Shanghai's Pudong was gloomy about her bonus prospects given the dwindling patronage at the hotel. "I guess my annual bonus for last year will drop at least ...

Suning Appliance to purchase HK's retailer Citicall

Chinese mainland's home appliance giant Suning Appliance Co announced Wednesday it would purchase a leading consumer electronics retailer in Hong Kong, Citicall, with HK$35 million ($4.5 million). "We plan to open 50 stores in Hong Kong within three years, and take up more than ...

Property companies slammed for back taxes

The Beijing Local Taxation Bureau published a list this week in the Beijing Daily newspaper of 35 companies that owe a minimum of eight million yuan each in unpaid taxes. Over 80 percent are in real estate and construction industries. The number of enterprises that have defaulted ...

Regulator approves 1st national insurance brokerage firm

China Insurance Regulatory Commission (CIRC) today approved the establishment of D.Tong Insurance Sales Services Co Ltd, which is the country's first national insurance brokerage company. Before the approval, insurance brokerage companies could only do business in cities where ...

Telecom operators need to improve customer services

China's telecom operators' customer services need to be more polite and more informative to callers from the country's 730 million wireless subscribers, according to a specialized organization's latest survey. The Customer Service Committee of China Association of Trade In ...

CCB to buy ING's 50% stake in insurer Pacific Antai

China Construction Bank (CCB) will buy the entire 50 percent stake held by Dutch financial conglomerate ING Groep NV in Pacific Antai Life Insurance Co, to further expand its presence in the insurance sector. The acquisition will expand CCB's customer base and also help it to ...

Hunan TV, Taobao.com set to form alliance

China's biggest online retailer, Taobao.com, will set up a joint venture with broadcaster Hunan Television, in a move to expand its portfolio beyond online shopping. The new company, with a total investment of 100 million yuan, will produce TV programs related to online shopping ...
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