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Tencent sees big picture with stake buy

Tencent Holdings will pay 450 million yuan (US$69 million) for a 4.6 percent stake to become the largest institutional investor in Huayi Brothers Media Corp, China's biggest listed filmmaker. The investment will allow Tencent to tap the growing demand for higher quality films as ...

BYD's A share listing in the making

The China Securities Regulatory Commission began to review Chinese car and battery maker BYD's application for a share offering on the Shenzhen Stock Exchange. Shenzhen-based BYD reported revenues of 48.4 billion yuan in 2010 and an accumulated growth of 32 percent over the past ...

Big plans for 'Beijing' brand cars

AIC plans to roll out a mid-sized sedan by the end of the year. [China Daily] The nation's fifth-biggest carmaker Beijing Automotive Industry Corp (BAIC) has laid out a blueprint to join the ranks of the Fortune 500 and the world's top 15 automotive companies by 2015, it ...

Food companies lack confidence in their own products

Most of the companies in the city's food industry are not confident when evaluating their own quality standards, a survey shows. The survey, conducted by the Shanghai Association for Quality, polled more than 800 companies, including food-processing, food-producing and drink...

CSR subsidiary and Wabtec to build joint venture for rail car brake production

A subsidiary of CSR Corporation Limited (CSR), China's largest rail vehicle maker, said Monday that it signed an agreement with U.S.-based Wabtec Corporation to establish a joint venture to produce braking systems for rail cars. According to the agreement, the CSR Zhuzhou ...

China continues anti-dumping measures against imported chloroprene rubber

The Chinese Ministry of Commerce (MOC) announced on Monday that it will continue to impose anti-dumping measures on chloroprene rubber imported from Japan, the United States and the European Union for another five years. The extended anti-dumping measures will take effect ...

Airlines battling costly EU plan

The China Air Transport Association has said it and its airline members do not acknowledge the European Union's Emissions Trading System (ETS), something they say would cost them billions of yuan each year. "If the EU insists on carrying out the plan, the association will ...

China to check overcapacity of flat glass industry

China will review the country's ongoing flat glass production projects and resolutely close substandard projects in an effort to curb overcapacity in the flat glass sector, the Ministry of Industry and Information Technology (MIIT) said Monday. New projects should get approval ...

TCM seeking greater global recognition (2)

China has signed 91 government contracts with 70 countries to cooperate in the general medical sector, plus 48 contracts exclusively concerned with TCM, according to Peng Yuhang, an official with Sichuan's science and technology department. "Our government can have a big role to ...

China Unicom helps rebuild school in quake-hit Sichuan

A primary school severely damaged in the devastating earthquake in Sichuan province has been successfully rebuilt, Mianyang Daily reported on April 15. The reconstruction, sponsored by China Unicom, was completed on April 14. China's second largest mobile carrier donated more ...

China's shipping sector suffers from overcapacity, high oil price

About 30 percent of China's coastal shipping companies are suffering a loss due to overcapacity and high fuel price, Xu Zuyuan, vice minister of transport said Saturday. According to Xu, some 40 percent of the country's inland shipping firms are also suffering a loss. Data from ...

Chinese Internet firms rush for US IPO

With two Chinese Internet firms landing the New York Stock Exchange (NYSE) last week and more expected to come, the US capital market is likely to see an IPO boom of Chinese companies in May. NetQin Mobile Inc, a Chinese maker of cell phone Internet security software, made its ...

Express delivery revenue exceeds 6b yuan in March

Revenue from China's express deliveries hit record high of 6.18 billion yuan ($951 million) in March, bringing the first quarter revenue to 15.66 billion yuan thanks to the on-line business boom during the holiday season, figures released by the State Post Bureau show. Revenue of ...

Rural hydropower capacity to hit 74m kW by 2015

China's capacity of rural hydropower is expected to hit 74 million kilowatts (kW) by 2015, said the country's Water Resources Minister Chen Lei Saturday. The newly-installed capacity of rural hydropower in China would reach 15 million kilowatts in the next five years, said Chen, ...

Big plans for 'Beijing' brand cars

The nation's fifth-biggest carmaker Beijing Automotive Industry Corp (BAIC) has laid out a blueprint to join the ranks of the Fortune 500 and the world's top 15 automotive companies by 2015, it announced at the recent Shanghai auto show. The ambitious goal will be bolstered by ...

High-tech science park gets big boost

Zhongguancun may be hailed as China's most famous village by foreigners. Dubbed as "China's Silicon Valley", the country's biggest high-tech park in west Beijing is not only home to Chinese high-tech companies such as Lenovo, Baidu and Sohu.com, it is also the China headquarters ...

IPR protection vital for both nations

About two weeks before the third Sino-US Strategic and Economic Dialogue (S&ED), the American Chamber of Commerce in China (AmCham-China) published the "2011 American Business in China White Paper". The report is objective on a whole, but questions can be raised on the comprehens...

Huawei looks to take on Cisco in data routers

Huawei Technologies Co, China's largest maker of telecom-networking equipment, is banking on the rising number of mergers of computer and communication networks to narrow the gap with Cisco Systems Inc in data routers and switches. "Cisco is clearly the leader in this domain, but ...

YouTube expands video rental service

YouTube on Monday said it is expanding its online video rental service, adding some 3,000 new movies for users in the United States to rent. The announcement confirmed recent media reports, including The New York Times, that Sony Pictures Entertainment, Universal Pictures and ...

Google to build new office for hiring spree

Google plans to build its own office space to make room for its hiring spree, local media reported Monday. The company has agreed to pay the city of Mountain View 30 million U.S. dollars to lease 9.4 acres near Shoreline Boulevard for 53 years, one of the highest prices ever for ...
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Retailer's Net Profit Falls 3%
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