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HK's Hybrid Kinetic buys Zhejiang GBS Energy for $26m

HONG KONG - Hybrid Kitetic Group Ltd, a Hong Kong-listed company specializing in manufacturing environment products and automobile axles, has said it agreed to pay about $26 million to buy the Zhejiang GBS Energy. In a statement filed to the Hong Kong exchange late Monday, Hybrid ...

Swire to raise funds for debt repayment

HONG KONG - Swire Properties Ltd, landlord to Time Warner Inc and Societe Generale in Hong Kong, is seeking to raise as much as HK$20.8 billion ($2.7 billion) in what would be the city's largest initial public offering (IPO) since 2007. Swire Properties aims to sell 910 million ...

Hanlong to invest $5b in raw materials

Infrastructure investment to help avoid supply chain bottlenecks Beijing - Hanlong Mining Investment Pty Ltd, a subsidiary of Sichuan Hanlong Group, plans to invest $5 billion in steel-related materials including molybdenum, manganese and renewable energy projects in Australia, ...

China's Deer Air renamed Capital Airlines

BEIJING - China's Deer Air Co Ltd, a subsidiary of Hainan Airlines, has changed its name to Capital Airlines. The airline completed its first flight under its new name Monday, taking a special delegation to Shanghai from Beijing Capital International Airport. The Beijing-based ...

Local water bottlers to sip from premium market

BEIJING - Domestic firms are targeting China's premium bottled-water market, which has long been dominated by foreign suppliers. Last year Chinese consumed 21 billion liters of mineral water and annual sales of premium-bottled water are expected to top 10 billion yuan ($1.46 ...

UPS to build service sharing hub in E China

HEFEI: UPS, the world's largest package-delivery company, will build its largest service sharing base in Asia-Pacific region in eastern China, local authorities said Saturday. UPS has signed a memorandum of collaboration with the municipal government of Hefei, capital of Anhui ...

CNOOC to buy stake in South China Sea oil field for $515m

BEIJING: China National Offshore Oil Company Limited (CNOOC) announced late Friday it has agreed to acquire US-based Devon Energy Corporation's 24.5 percent interest in a South China Sea oil block for $515 million. Completion of the transaction is subject to Chinese government ...

Dairy firm turns profit after 2008 milk scandal

HONG KONG - China Mengniu Dairy Co, the nation's biggest maker of liquid milk, returned to profit in 2009 after sales and margins recovered from a nationwide scandal involving tainted dairy products the year before. Net income was 1.1 billion yuan ($161 million) or 0.681 yuan a ...

CITS 2009 net profit surges on lower operating costs

China International Travel Service Co Ltd (CITS), the country's largest travel agency, said Wednesday its annual net profit rose 41.37 percent last year on lower operating costs and expanded markets. Net profits hit 312.75 million yuan ($45.8 million) last year on revenue of 6.1 ...

COSCO Pacific net profit up 207% in Q1

HONG KONG - COSCO Pacific Limited announced Wednesday that its first quarter net profit was up 207 percent year-on-year to $133.247 million. According to its financial and operational highlights, the first quarter net profit was mainly contributed by disposal of its equity ...

Coca-Cola plans 3 new plants in China

BEIJING: Coca-Cola will open two new bottling plants and start building another one in China this year, as the company believes China will become the largest market for soft drinks in the near future, the US soft-drink giant said Tuesday. The two new plants to be opened this year ...

US firms still keen on China

BEIJING - China remains a highly desirable destination for investment and a major global priority for US companies despite some concerns, the American Chamber of Commerce said in a report published on Monday. More than 91 percent of the surveyed companies said they were ...

Charles River to buy China's WuXi AppTec: report

Charles River Laboratories International Inc plans to buy China's WuXi AppTec Co for $1.6 billion, according to The Wall Street Journal. Charles River is offering a combination of cash and stock for Shanghai-based WuXi, and hopes to close the deal by the fourth quarter, the ...

China Southern Q1 profit surges sixfold

China Southern Airlines Co, the nation's largest carrier, boosted first-quarter profit more than sixfold after carrying more passengers and selling a stake in a maintenance venture to its parent. Net income climbed to 1.42 billion yuan ($208 million), or 0.18 yuan per share, from ...

Chinese company to help create new airline for Venezuela

CARACAS - A Chinese company signed an agreement with two Venezuelan companies for the creation of a new airline, which will operate in domestic routes in Venezuela with competitive prices. The agreement was signed by China's AVIC International and Venezuela's Fundagrial and ...

China South Locomotive reports 85% net profit surge in Q1

BEIJING - China South Locomotive & Rolling Stock Corporation Limited (CSR), the country's biggest maker of rail vehicles, reported Friday a huge net profit surge in the first quarter this year. Its net profit jumped 84.55 percent year on year to 355 million yuan ($52 million) in ...

Beijing Sanyuan Foods sinks into red in 2009

BEIJING - Beijing Sanyuan Foods Co Ltd, one of China's leading dairy producers, Friday reported a net loss of 128.76 million yuan ($18.86 million) in its 2009 earnings report. The loss, attributed to increased marketing and operating costs, was a fall of 415.97 percent from a net ...

Hainan Airlines returns to black in 2009

BEIJING- Hainan Airlines Co Ltd, one of China's major airlines, said Saturday its 2009 net profit returned to the black. Special Coverage:2009 Annual Reports of Listed Companies Earnings per share stood at 0.09 yuan last year, compared with 0.4 yuan loss in 2008. The company, ...

Cnooc to hike LNG imports in green move

BEIJING - China's largest offshore oil producer Cnooc plans to nearly double its annual imports of liquefied natural gas (LNG) by 2020, company President Fu Chengyu said on Friday. The company is expected to import 30 million tons of LNG in 2020, said Fu. The company is expected ...

Cronimet Group inaugurates steel recycling plant in Shanghai

SHANGHAI - German steel recycling firm Cronimet Group on Friday inaugurated a plant in Shanghai in a bid to tap into China's potentially huge scrap steel market. The 54,000 sq m warehouse, located in the city's Baoshan district, involves a total investment of 15 million euros. It ...
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China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
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Bill Gates talks nuclear
Bill Gates talks nuclear
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China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...

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China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
The Number One Document also proposed a new pricing plan for China's ...
IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
GM China chairman to retire
GM China chairman to retire
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industry

Minivans rev up sales for GM
Minivans rev up sales for GM
Sales of General Motors and its Chinese ventures accelerated in ...
Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...
Chinese leader calls for more marine power
Chinese leader calls for more marine power
Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...

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Lucrative golf industry lures stiff competition
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
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...
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