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HSBC to add about 19 outlets in China this year

BOAO, Hainan - HSBC, Europe's biggest lender, expects branch growth in China this year to be similar to 2009, as the bank continues to expand in the fast growing region. HSBC added 19 branches in China last year, bringing the total number of outlets there to 99, Richard Yorke, ...

China Xiangguang to triple copper capacity next year

HONG KONG - China's Xiangguang Copper plans to triple production capacity by the first half of next year as the construction of a second phase unit and upgrade projects are completed, a company official said on Thursday. Xiangguang will raise copper refining and smelting capacity ...

Nokia to launch music download service in China

Nokia will launch its music download service in China, the world's largest mobile market, looking to emerging markets to invigorate the struggling service that competes with Apple's iTunes. The world's top cell phone maker will offer music from major labels and a number of ...

Foxconn rocked by latest suicide attempt

Fourth time in a month for firm SHENZHEN - An employee of Taiwan manufacturing giant Foxconn Technology Group, a major manufacturer for the US-based Apple Corp, attempted suicide by jumping out of the company's dormitory building on Tuesday. In the past month, four Foxconn ...

Country Garden to meet investors for dollar bond -source

Chinese developer Country Garden has hired JPMorgan and Goldman Sachs to manage a planned benchmark-sized, seven-year dollar bond sale, a source close to the deal said. The company would meet investors in Hong Kong, Singapore, London and New York from April 9 to 14 ahead of the ...

Jinchuan looks to extract nickel firm's assets

BEIJING: Jinchuan Group Ltd, China's largest nickel producer, has made a $150 million offer for Canadian junior nickel miner Crowflight Minerals Inc to gain its assets in Manitoba and Ontario, Canada. Jinchuan's offer is about 26 cents a share or a 57 per cent premium over ...

Domestic firms more cautious on foreign buyouts

BEIJING: Chinese companies are planning to take a more cautious approach to foreign acquisitions, avoiding outright buyouts and seeking more partnerships and alliances, a report by the Economist Intelligence Unit said on Tuesday. According to the report, among survey respondents ...

Datang Telecom net profit up 26% in 2009

Datang Telecom Technology Co, Ltd, a major developer of the Chinese TD-SCDMA 3G standard, Thursday said its net profit rose 25.91 percent to 57.47 million yuan ($8.41 million) in 2009 from the previous year. Special Coverage:2009 Annual Reports of Listed Companies Earnings per ...

PetroChina to spend $1.5b on coal methane capacity

BEIJING: PetroChina will invest more 10 billion yuan ($1.46 billion) in coming years to build 4.5 billion cubic meters of coal seam gas production capacity in China, a company official said. "We aim to complete capacity building by 2013 and boost actual output to that level by ...

China Guodian, Myanmar sign initial hydro, coal power agreement

China Guodian Corp signed an initial agreement on May 27 to build hydro and coal-fired power plants in Myanmar, the company said in a statement on its website today. This is an "important" step in Guodian's overseas expansion strategy, the company said.

Ansteel intends to merge Baogang

Anshan Iron and Steel Group (Ansteel) has expressed its intention to bring Baotou Iron and Steel Group (Baogang Group) under its fold, after Baosteel Group Corp ended its talk with Baogang Group in April, according to media reports. Baogang Group is the largest rare earth ...

PetroChina to earn $2.7b from gas price hike

PetroChina Co, the country's biggest oil and gas producer, with an 80 percent share of the domestic natural gas market, was expected to earn over 18.4 billion yuan ($2.70 billion) as the prices of natural gas climbed up 25 percent Tuesday, according to media reports. China ...

Baosteel merger talks with Baotou Steel collapse

BEIJING: Merger talks between leading Chinese steel mill Baosteel and the Baotou Iron and Steel Group of Inner Mongolia have collapsed after four years of negotiations, the 21st Century Business Herald said on Tuesday. The takeover bid by the Shanghai-based Baosteel, China's ...

Pfizer selling China swine vaccine unit to Harbin Pharma

Pfizer, the world's biggest drug maker, is selling its swine vaccine business in China to Harbin Pharmaceutical Group for $50 million, a source with direct knowledge of the deal said today. The disposal was required by the Anti-Trust Bureau of China's Ministry of Commerce as a ...

China steel makers gain profit, but immediate outlook bleak

SHANGHAI -- China's 77 large and medium-sized steel makers scored a profit of 33.9 billion yuan ($4.97 billion) in the first four months, compared with a 4.1 billion yuan loss during the same period last year. Luo Bingsheng, vice chairman of the China Iron and Steel Association ...

NSK to build new plant in Shenyang

BEIJING - Japanese rolling bearing producer NSK said Friday it would invest $100 million to build a new plant in Shenyang city, capital of Northeast China's Liaoning province. It would be the company's first large-scale rolling bearing factory in China, and the output of the new ...

China to create 5 aviation hubs by 2020

The number of China's civil airports might reach 300 by 2020, and form 5 aviation hubs in North, East, Central, Southwest and Northwest China, Xinhuanet.com reported Thursday. China's civil aviation industry attracted fixed assets investment of 60 billion yuan ($8.8 billion) in ...

Cathay Pacific faces HK$26m fine

HONG KONG: Cathay Pacific was facing a fine about HK$26 million ($3.34 million) by the Fair Trade Commission of the Republic of Korea for alleged "air cargo pricing practices", the airliner said. In a statement filed to the Hong Kong stock exchange on late Thursday, the airliner ...

China tycoon Huang appeals 14 year jail term

BEIJING - China's one-time richest man and the founder of a major retail chain has appealed his 14-year jail sentence for bribery and insider trading, the Legal Daily reported on Friday. Huang Guangyu, the founder of retail chain GOME, was found guilty of bribery, insider trading ...

Tainted milk case referred to mainland

HONG KONG - A Hong Kong judge on Thursday rejected a lawsuit and claims for compensation by the parents of four mainland children, who were among thousands who fell ill two years ago after consuming tainted milk powder. Hong Kong's Small Claims Tribunal adjudicator Ada Yim ruled ...
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China slams Japan's NHK governor's denial of Nanjing massacre
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China's farm product pricing plan shifts to market orientation
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Minivans rev up sales for GM
Minivans rev up sales for GM
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Court rejects Apple lawsuit over iPad name
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Chinese leader calls for more marine power
Chinese leader calls for more marine power
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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
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Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
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