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China Eastern to open direct flight between Nanjing and Singapore

NANJING - China Eastern will start to operate a direct flight from east China's Nanjing, capital city of Jiangsu province, to Singapore on March 20. The direct flight, to be undertaken by an airbus A319, No MU771, will fly on every Monday, Thursday and Saturday. The flight will ...

China Southern plans $1.57b share placement

BEIJING - China Southern Airlines Co, the country's largest carrier by fleet size, said it planned to raise no more than 10.75 billion yuan ($1.57 billion) through private issue of Shanghai and Hong Kong-listed shares. The airline will issue up to 1.77 billion new A shares in ...

Chinese company to develop new energy in northeast

BEIJING - Aviation Industry Corporation of China will invest 3.3 billion yuan ($483.9 million) to develop new energy enterprises in China's northeast, the company said Monday. The State-owned company said it would build wind power stations of 200,000 kilowatts (kW), natural gas ...

China Publishing Group plans whole listing

China Publishing Group Corp, a large State-owned publishing group, has begun preparing for a whole listing and planned to float on the A-share market by the end of this year as previously scheduled, the China Business News reported on Sunday. The listing will include its contents ...

Su Ning asks canceling foreigners' privileges

Unfair competition was the main reason for the decline of domestic companies in the retail market, said Zhang Jindong, Suning Appliance Group's board chairman, as he called on local governments to remove privileges that are given to foreign retailers to attract overseas ...

Air China Cargo launches flight to Paris

BEIJING - Air China Cargo (ACC), China's largest cargo airline, launched its service to Paris on Saturday as the company saw a pickup in air cargo market following global recovery from the economic downturns.It was the fourth ACC cargo service between China and Europe, running ...

China Merchants Energy Shipping profit down 72.2% in 2009

BEIJING - China Merchants Energy Shipping Co, a major Chinese international oil tanker operator, said Saturday its annual net profit in 2009 slumped 72.2 percent from a year earlier. The shipping operator raked in 343 million yuan ($50.2 million) last year, bringing earnings per ...

RBS eyes securities licence in China - FT

LONDON - Royal Bank of Scotland has applied for a securities licence in China, as it seeks to expand its presence in the country, the Financial Times reported in its Monday edition. The British bank, bailed out by the UK taxpayer at the height of the crisis, has applied to the ...

L'Oreal China sales rise 17.7% in 2009

SHANGHAI - L'Oreal SA, the world's largest cosmetics maker, reported 17.7 percent growth in full-year sales to 8.18 billion yuan in China, a double-digit gain for the ninth consecutive year in the nation. The strong figures driven by Chinese customers' growing appetite for ...

Lenovo's overseas income will soar in 2010, says CEO

Lenovo's overseas income will greatly increase in 2010 due to the economic recovery of the overseas market and the company's strategic adjustment, Lenovo CEO Yang Yuanqing said Friday. The income will be much better than the previous year and the increase may be enough to beat ...

IBM invests in China's smart power

IBM is opening a multi-million dollar lab to develop technologies for China's burgeoning smart grid market. The $40 million dollar Energy & Utilities Solutions Lab will be located in the IBM China Development Labs in Beijing. The company says it expects the lab, the first for IBM ...

Chinese home appliances tycoon Huang Guangyu stands trial in Beijing

BEIJING - Huang Guangyu, former chairman of Gome Electrical Appliances Holdings, went on trial Thursday on charges of illegal business dealings, insider trading and bribery at the Beijing No 2 Intermediate People's Court.The procuratorate has charged Huang with illegal foreign ...

Air China reports 2009 net profit up 155%

BEIJING - China's national flag carrier Air China said Thursday it swung back into the black last year on the back of lower fuel costs and higher passenger volumes. The country's largest carrier said net profits jumped 155 percent to 5 billion yuan ($736 million), compared with a ...

China Shipping Container Lines posts sharp profit fall in 09

BEIJING - China Shipping Container Lines Company Limited (CSCL) on Thursday posted a loss of 6.49 billion yuan ($950.31 million) in 2009, down from a net profit of 134.69 million yuan in 2008. Special Coverage:2009 Annual Reports of Listed Companies Loss per share was 0.5554 yuan...

China's largest copper maker posts profit surge in Q1

BEIJING - Jiangxi Copper Co Ltd, China's biggest copper producer, said its first quarter profit rose 360 percent to hit 697million yuan ($102 million) in a statement filed to the Shanghai Stock Exchange Thursday. The company attributed the increase to booming sales and higher ...

Datong Coal Industry Co reports 2009 net profit up 2.55%

BEIJING - Datong Coal Industry Co Ltd, one of China's leading coal producers, said Wednesday its 2009 net profit rose 2.55 percent on the back of rising coal output and strong sales. Net profits hit 1.49 billion yuan ($218.16 million) last year on revenue of 9.49 billion yuan, ...

Alipay partners with MasterCard in HK, Macao, Taiwan

HANGZHOU - The world's largest online payment company, Alipay.com Co Ltd, Wednesday announced it had begun offering payment services in Hong Kong, Macao and Taiwan in partnership with MasterCard Worldwide. Online shoppers from the three regions can use MasterCard to pay for goods ...

New Baidu website shoots for the stars

BEIJING - Baidu Inc's online-video website Qiyi.com aims to become the biggest video website within the next 12 months, surpassing current market leaders Youku.com and Tudou.com, the search engine said on Wednesday. Gong Yu, chief executive of Chinese-language Qiyi.com, said the ...

Airlines to Europe fly again

China's largest airline, Air China, said all its flights from Beijing to Europe had returned to "normal" service on Wednesday. Flights leaving Beijing for Europe have been grounded since April 15, after ash clouds emitted by an erupting Icelandic volcano closed the skies over the ...

Volcanic ash clouds cargo fate

Guangzhou - The volcanic ash cloud from Iceland that has cut off much of Europe from the rest of the world is choking the logistics sector of South China's Guangdong province, leaving some export/import dependent businesses playing a waiting game. "Our company has dozens of tons ...
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