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Michelin drives up investment in China

China will be the major investment destination for French tiremaker Michelin SA in the next three years, with plans of expanding production and enhancing research and development (R&D) capabilities, said the company's top executive. "We are planning a 1.6-billion-euro ($2.26 ...

Wenzhou denies manufacturing base is withering

Municipal government officials in Wenzhou, Zhejiang province have denied speculation that the city faces the loss of its manufacturing base, as factories close and funds are diverted into capital investment. "The factory closures are not as severe as is being reported by the ...

Chinese central state firms' net profit tops 80 billion yuan in April

The net profit of China's central state-owned enterprises (SOEs) is estimated to have reached 82.11 billion yuan in April, surpassing the 80-billion-yuan mark for the first time in 2011. Meanwhile, the central SOEs, which refer to those state-owned enterprises administered by ...

China still struggling with persistent organic pollutants

May 23 marks the 10th anniversary of China's signing of the Stockholm Convention on Persistent Organic Pollutants (POPs). During the past 10 years, the Chinese government has attached great importance to the prevention work of POPs, which achieved great positive results. ...

Steel output may fall as power cuts loom

The production of crude steel in China may start to drop in June, after peaking in early May, because of an impending power shortage, industry analysts said. Steel production reached a record of nearly 1.95 million tons in the first 10 days of May, according to the latest figures ...

Dow Agro sets up China headquarters in Jiangsu

Dow Agro Sciences from the United States has launched its China headquarters in the city of Nantong in eastern China, according to company sources. The company is one of the world's top five agrochemical transnational corporations and a wholly-owned subsidiary of the Dow Chemical...

$1b jumbo deepwater rig delivered to CNOOC

SHANGHAI -- A 3,000-meter deepwater jumbo oil drilling platform was delivered here Monday to China National Offshore Oil Corp (CNOOC), the country's largest offshore oil producer, the latest step for China as it seeks more energy from the ocean. It took 6 billion yuan ($923 ...

Apple facing shortage of iPad 2

Apple's iPad 2 is already hard to come by in China but it will be even tougher to get your hands on one because of last Friday's explosion at a Chengdu factory. The Foxconn Technology Group, which makes the hugely popular tablet computer and Apple's iPhone, has suspended ...

China's mobile phone users exceed 900 million

China's cell phone user grew by 41.39 million in the first four months of 2011 to 900.39 million in total, covering nearly two-thirds of the nation's population, according to the Ministry of Industry and Information Technology (MIIT). The number of telephone subscribers exceeded ...

Outsourcing service in China promising: officials

China's outsourcing service is promising as it has witnessed fast expansion with optimized structural adjustments over the past few years, officials attending the 4th Global Outsourcing Summit said Monday. "China's outsourcing service has become a green engine for economic ...

China's power shortage may be worse than 2004: State Grid

China witnessed the worst power shortage in decades in 2004, but the country's leading power distributor said Monday that this year might prove worse. Some 26 provincial regions under the management of State Grid Corp. of China would suffer combined power shortages of 30 million ...

China Exclusive: After 3 years and nearly a billion dollars, jumbo deepwater rig delivered to CNOOC

A 3,000-meter deepwater jumbo oil drilling platform was delivered in Shanghai Monday to China National Offshore Oil Corp. (CNOOC), the country's largest offshore oil producer, the latest step for China as it seeks more energy from the ocean. It took 6 billion yuan (923 million U...

Youku launches video search service

China's online video content provider Youku.com has officially entered into the search business by launching its independent video search website at www.soku.com, providing users with professional video search services that cover all mainstream video websites. Industry insiders ...

Casino giants bet big for Macao's gaming windfall (3)

DIVERSIFYING APPROACHES As a pillar industry of Macao, gaming sector contributes about 35 percent of their income in gaming taxes. According to official figures, Macao's total public revenue for the year of 2010 reached 79.63 billion patacas (9.95 billion U.S. dollars), with ...

Casino giants bet big for Macao's gaming windfall (2)

GAMING REVENUE SKYROCKETING Macao, the only place in China where gambling is legal, saw spiraling growth of the gaming industry after opening up the century-old sector to foreign competition in 2002. In 2010, the city raked in 23.5 billion U.S. dollars in gambling revenue, about ...

Blast at iPad plant reveals problems

An explosion at one of two factories that make Apple's iPad 2 highlights the risks of a global manufacturing strategy that has cut costs but concentrates production in a few locations. Foxconn Technology Group, the contractor that makes Apple's iPhones and iPads, said last Friday...

Competition heats up over 3D TV

As the demand for three-dimensional (3D) home televisions grows in China, competition between panel makers is expected to heat up. Figures from China Electronic Chamber of Commerce (CECC) suggested that more than 80 percent of Chinese consumers were able to differentiate between ...

Textile sector in 2010 sees most potent growth in 25 years

The Fiber Year Consulting and Oerlikon Textile take pride in announcing that the new Fiber Year 2011 report has been published. It continues a series of issues covering the world textile and nonwovens industry that has started beginning of the 2000 s after Akzo had decided to ...

Toyota's output back in 'healthy position'

Toyota Motor Corp told its United States dealers last week that the company had 45 days of inventory and was working hard to get the word out that it was "open for business." In a letter obtained by Reuters, US Toyota brand sales chief Bob Carter told dealers the company was in a ...

Boost for Chinese fashion brands (2)

Development "Chinese brands are in a very fast development period," said Peking Tan, R&D director of Greater China with MillwardBrown, a world-leading research agency. "The rising Chinese brands also benefit from their huge domestic market, with which they are familiar." Since ...
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sports

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