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Coca-Cola price hike won't affect China

A US price hike by soft drink giant Coca-Cola won't affect Coca-Cola prices in China, China Business News reported Tuesday. "Our companies have comprehensive price strategies for the Chinese market, and each bottler will set a price in accordance with the local market," the ...

Partnership formed for homegrown C919 plane

The Commercial Aircraft Corp of China Ltd (COMAC), which is undertaking the construction of large domestic passenger jets, began its first joint venture on Tuesday with a foreign company in the hope of using world-class manufacturing techniques in the production of the homegrown ...

Corning sets up research center on Chinese mainland

Corning Inc started its first joint venture laboratory on the Chinese mainland on Tuesday in partnership with a well-known ceramics institute in Shanghai. "The joint research facility is aimed at exploring technologies to support the development of future Corning products that ...

Pork prices continue to rise in China

In China nowadays, it is pigs rather than bulls that touch the nerves of the markets. Pork prices kept their bull run in the week ended June 26 with an increase of 4.5 percent week-on-week, according to the Ministry of Commerce (MOC) on Tuesday. Pork prices soared 40.4 percent ...

Imported iron ore stocks rise for sixth straight week

Inventories of iron ore at 25 of China's major sea ports rose for the sixth consecutive week to 94.15 million metric tons in the week ended June 27, according to the Xinhua-China Iron Ore Price Index released on Tuesday. The stock of imported iron ore last week was 400,000 metric ...

China's first precious metal exchange opens in central China's "Silver City"

China's first precious metal exchange opened on Tuesday in central China's Hunan province. The Hunan South Rare and Precious Metal Exchange, built with a total investment of 260 million yuan (40.2 million U.S. dollars), opened in Hunan's Yongxing County, whose silver output ...

Beijing relaunches idle airport to tap low-altitude flight market

A nearly idle airport in suburban Beijing came to life again Tuesday as a Eurocopter helicopter made a smooth landing on the tarmac lot at a ceremony to mark the airport's relaunch that targets the country's growing general aviation (GA) market. The Badaling Airport, about 50 ...

China UnionPay, CCB sign mobile phone payment agreement

China UnionPay, one of the world's leading bank card associations, signed a framework agreement with China Construction Bank (CCB) on Tuesday to explore a mobile phone payment program. The two companies will work together to develop payment systems that can be used online or ...

Macao's casino taxes produce 84% of government revenue

Direct taxes from gaming businesses generated 84.4 percent of total revenue of Macao Special Administrative Region (SAR) government in the first five months of this year, the Macao Post Daily reported on Tuesday. The newspaper quoted latest statistics from the city's Finance ...

Plan to build energy industry "golden triangle" in NW China may be implemented soon

A plan to build an energy industry "golden triangle" in northwest China has been submitted for approval and may be implemented soon, the China Securities Journal quoted an unnamed source as saying Tuesday. The plan involves building a comprehensive energy production and supply ...

China benchmark steam coal price rises for 14th week

China's benchmark steam coal prices hit 843 yuan (130.29 U.S. dollars) per metric ton last week, up 2 yuan per metric ton week-on-week. The benchmark price has continued to rise for 14 straight weeks, according to the Bohai-Rim Steam-Coal Price Index. The Bohai-Rim Steam-Coal ...

'A matter of time' before duty cut on luxury goods

Reducing import duty on luxury goods is only "a matter of time" as key ministries have reached general agreement on the issue, Yao Jian, Ministry of Commerce spokesman, told China Daily on Monday. The commerce and finance ministries are likely to submit a proposal on measures to ...

China to cut duties on luxury goods

Reducing import duty on luxury goods is only "a matter of time" as key ministries have reached general agreement on the issue, Yao Jian, Ministry of Commerce spokesman, told China Daily on Monday. The commerce and finance ministries are likely to submit a proposal on measures to ...

Trains fly on Beijing-Shanghai high-speed railway (2)

GREAT SIGNIFICANCE Shen Wenjing, from the city of Jinan in Shandong Province, who works in Beijing, said she rarely went back to her hometown as her work is too busy. "I don't have many vacations and the journey back home is too long," she said. But with the imminent opening of ...

Tencent game on diversification

Tencent Holdings Ltd, the world's third-largest Internet firm, aims to be China's Facebook, Twitter and Google, all rolled into one. While the company's market value has quadrupled to $50 billion over the past two and a half years, its revenue and profit growth are expected to ...

China has 714,000 3G mobile phone towers

China had about 714,000 3G mobile phone towers by the end of May this year, the Ministry of Industry and Information Technology (MIIT) said on Monday. Ownership of the 3G towers is almost equally divided among the country's three leading mobile phone services providers. China ...

China UnionPay extends presence in Taiwan ahead of tourism program

China UnionPay (CUP), a bank card services provider, said Monday it has reached an agreement with Taiwan-based Financial Information Service (FISC) to further expand the acceptance of CUP bank cards in Taiwan. According to the agreement between CUP and FISC, CUP bank cards will ...

China approves Diageo's takeover of local liquor company

China's regulatory body has approved British drink giant Diageo's acquisition of additional shares to become the controlling shareholder of one of the best-known Chinese liquor brands. The Ministry of Commerce approved the transfer of shares of four percent from Quanxing Group to ...

Ministry denies lower dairy standard

Chinese officials have denied adopting a looser national standard of milk quality and claim to be developing grading levels for raw milk to guide the production of differentiated products. In response to recent reports that China's dairy industry has the world's lowest standards, ...

Property firms fined for irregular price markings

Twelve property firms have been fined a total of 3.64 million yuan (about 563,000 U.S. dollars) by China's price watchdog for failing to mark or fabricating the sale prices of homes they were selling, according to the country's top economic planner. The malpractices were ...
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