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Sagging profits drive steel sector reforms

Industry in period of low growth, overcapacity weighing on prices BEIJING - China's steel industry is operating on a profit margin lower than all other industries, touching 3.5 percent, pushing the industry to reform its structure, a senior official said on Sunday. "The ...

China raises gasoline, diesel prices amid inflation pressure

BEIJING - China will raise gasoline and diesel prices 310 yuan ($46) per ton and 300 yuan per ton, respectively, beginning Wednesday, the National Development and Reform Commission (NDRC) announced Tuesday. This is the second increase in fuel prices in two months after the NDRC ...

China to unveil $739b 'new energy' plan soon

China will soon publish a plan for what it called "newly developing energy industries" that will involve 5 trillion yuan ($739 billion) in investment through 2020, the China Securities Journal reported on Monday. The plan has been approved by the National Development and Reform ...

New plan targets more pollutants

Beijing - China plans to introduce ambitious new targets for the reduction of major pollutants in the upcoming 12th Five-Year Plan (2011-15) as the nation strives to realize its green goals, a senior official said. Two new pollution indicators, nitrogen oxide - which is mainly ...

China iron ore imports rise 6% on 'bullish' mills

Iron ore imports by China, the largest buyer, rose 6 percent in February, strengthening the ability of BHP Billiton Ltd, Rio Tinto Group and Vale SA to ask for higher prices. Imports reached 49.4 million metric tons, compared with 46.6 million tons in January, according to ...

Steel mills feel the heat in ore talks as output peaks

Crude steel production in China, the world's largest steel maker, rose 14 percent to a record last year, further complicating this year's iron ore negotiations. Steel output rose to 568 million tons in 2009 from 500 million tons in 2008, the National Bureau of Statistics said in ...

China's natural gas output up 7.7% in 2009

According to China Petroleum and Chemical Information (CPCI), an online publication focusing on China petroleum and chemical industry and the Asia-Pacific petrochemical market, China produced 83 billion cubic meters of natural gas in 2009, up by 7.7 percent compared with 2008. ...

Profit of China's iron & steel industry drops 31% in 2009

BEIJING: China's 68 large and medium sized iron and steel companies made 55.39 billion yuan ($8.12 billion) in profit in 2009, down 31.43 percent year on year, said a senior official from China Iron & Steel Association Tuesday. The 68 companies reaped a total business revenue of ...

WISCO posts 75.79% fall in Q3 net profit

The Wuhan Iron and Steel Company Ltd (WISCO), the listed arm of China's Wuhan Iron and Steel (Group) Corp, posted a decline of 75.79 percent in net profit in the third quarter this year because of falling sales. The company's net profit reached 546.56 million yuan ($80.02 million...

China's logistics sector on track of revival: experts

Lu Jiang, chairman of the China Federation of Logistics and Purchasing, said in Zhengzhou, capital of Henan province, Thursday China' s logistics restructuring and stimulus plan had brought new development opportunities to the sector and helped the industry back to rapid growth ...

China's power generation capacity up 10%

China's power generation capacity rose 10.23 percent to 874 million kilowatts by the end of 2009, only second to the US, according to figures released Thursday. Thermal electricity accounted for 74.6 percent of the total, or 652 million kilowatts, down 1.45 percentage points year...

China predicts 10b tons of iron ore reserves in Hebei province

Exploration work in the eastern region of North China's Hebei province shows potential iron ore reserves in this area is estimated to top 10 billion tons, the China Metallurgical Geology Bureau (CMGB) said Saturday. A total of 3.44 billion tons of iron ore has been verified in ...

China's dependence on imported iron ore hits 70%

China's dependence on foreign iron ore approached about 70 percent in 2009, 13 percentage points higher than the previous year, said a Shanghai Securities News report on Friday, citing a government official. Special Coverage:Refocus on Iron Ore Talks Brazilian mining giant Vale ...

China may see fuel surplus next year, PetroChina says

China, the world's second-biggest energy user, may face a surplus of fuel including diesel next year as refiners add oil-processing capacity. The oversupply may increase to 80 million metric tons by 2015, Fu Bin, deputy general manager of PetroChina Co's sales unit, said at an ...

China's installed power capacity to reach 900m kW by year end

BEIJING - China's installed power generation capacity will surpass 900 million kilowatts by the end of 2010, Zhang Guobao, head of China's National Energy Administration, said Friday. China's installed power capacity has risen quickly in recent years, with the installed hydro...

China oil demand up on double-digit growth

HONG KONG: China's demand for oil rose 12.8 percent in March as the Chinese economy returned to rapid growth and refining capacity expanded, according to a report Tuesday. Apparent oil demand rose to 8.12 million barrels per day over the year ago March according to an analysis of ...

Industrial profit tops $100b in Q1

Industrial enterprises in China's 24 regions reported combined profits of 690.8 billion yuan ($101.2 billion) in the first quarter, more than double the figure of the same period last year, the National Bureau of Statistics (NBS) said in a statement Wednesday. The NBS did not ...

Oil use in China may rise 9% in second half

China, the world's second-biggest energy consumer, may post a 9 percent gain in monthly oil demand in the second-half of 2010 from a year earlier as its reliance on oil imports grow, China Oil, Gas & Petrochemicals said. Monthly oil demand may reach 35.5 million metric tons, ...

Chinese steelmakers' profits plunge in July

Chinese large- and medium-sized steelmakers earned profits of 2.86 billion yuan in July, dropping 73.05 percent year-on-year, the Beijing Times reported Wednesday, citing data from the China Iron and Steel Association. The profits were 3.39 billion yuan, or 54.24 percent less ...

Domestic system for carbon trading

Efforts to reduce greenhouse-gas emissions through domestic cap-and-trade systems have acquired new urgency, as China is set to become the world's largest emitter and energy user in the coming decade. In the absence of a functioning global cap-and-trade system that is widespread ...

Latest World News

china

Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
BEIJING, Jan. 22 (Xinhua) -- Policies of China's new leadership in the ...
Merck to put $1.5b in R&D
Merck to put $1.5b in R&D
Merck Sharp & Dohme (MSD), the world's second-largest drug producer by ...

world

market

IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
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 ...
Chinese investors look to overseas opportunities
Chinese investors look to overseas opportunities
SHANGHAI, Jan. 25 (Xinhua) -- China, the world's top manufacturer and ...

finance

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Retailer's Net Profit Falls 3%
Retailer's Net Profit Falls 3%
A Wal-Mart store is seen in Stratford, Connecticut, the United States. ...
Gaming Firms Find Going Tough
Gaming Firms Find Going Tough
Employees demonstrate Sony Ericsson Mobile Communications' Xperia Play ...
Boeing Wins Biggest Order of US$26b
Boeing Wins Biggest Order of US$26b
A formation of nine Royal Air Force Red Arrows Hawk aircraft fly ...

trade

sports

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 ...
Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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