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Overseas sightseeing booms during May Day holiday

The overseas tour market on the Chinese mainland was very prosperous during the May Day holiday and the market performance in China's Hong Kong, Macao and Taiwan were relatively stable. Traditionally popular destinations such as Thailand, Singapore and Cambodia in Southeast Asia ...

Food testing top priority

"Top priority" is the expression President Hu Jintao used when referring to the quality of food testing during his visit to Tianjin municipality. It points directly to the root cause of the country's food safety problems. The failure on the part of food safety watchdogs to give ...

Power-coal prices hit the highest point

Power-coal prices continued to rise at Qinhuangdao Port during May Day holiday, with an average increase of 15 yuan per ton, Shanghai Securities News reported Tuesday. Prices reached their highest point in two and half years, according to the newspaper. The price index averaged ...

Hong Kong implements minimum wage

Hong Kong Special Administrative Region has begun to fully implement the statutory minimum wage on May 1, and the first statutory minimum wage level begins at 28 yuan per hour. The "Minimum Wage Ordinance" formulated that the wages of employees in any wage period shall not be ...

Unilever to expand production in China

Unilever Plc in China. The company has business worth $20 billion in China and intends to increase that figure fivefold by 2020. (Photo/China Daily) Unilever Plc will build one of its largest production bases in the Chinese municipality of Tianjin, the company announced on Friday...

Sinopec, CNPC urge changes to consumption tax

Two of China's largest companies have apparently asked the government to temporarily lower or withdraw its levy on fuel oil consumption. The Economic Observer Weekly newspaper reported that the State-owned oil and gas giants China Petrochemical Corporation (Sinopec Group) and ...

Intel signs agreement with UIT to develop cloud computing

Intel Capital Corp, Intel Corp's global investment vehicle, announced last week its first storage investment in China to develop its cloud-computing capability. It signed an agreement with United Information Technology Co (UIT), a leading Chinese storage products and solutions ...

Huawei, ZTE trade lawsuits

Right before Labor Day, when people are supposed to take a break, two of China's major telecom equipment makers were busy with lawsuits. Huawei Technologies Co Ltd and ZTE Corp filed suit against each other over patents and trademarks, in the latest wrestling in the telecom ...

Renren's audit commitee head quits ahead of IPO

Derek Palaschuk, chair of the audit committee for social networking Website Renren Inc has resigned after investigation was conducted in Longtop Financial Technologies where he acts as chief financial officer. Renren is seeking an IPO on Nasdaque to raise about $690.3 millione. ...

Intel invests in UIT to develop cloud computing

United Information Technology Co's booth at a technology exhibition in Shenzhen, Guangdong province. [China Daily] Intel Capital Corp, Intel Corp's global investment vehicle, announced last week its first storage investment in China to develop its cloud-computing capability. It ...

Amazon builds 8th logistics base in China

Amazon.com, Inc., a U.S.-based e-commerce operator, will establish its eighth logistics base in east China's Jiangsu Province, local authorities said Monday. The 100,000-square-meter base is located in the Kunshan Huaqiao Economic Development Zone in the city of Kunshan, sources ...

China, Russia remain on US worst pirates list

The Office of the US Trade Representative issued its annual 301 Report Monday, with China and Russia topping its list of countries with the worst performance in preventing piracy and IPR infringement. It is the 14th straignt year for Russia to enter the list and the seventh year ...

Chinese cars aching to hit Turkish roads

Chinese automotive giant Chery might be a newcomer to Turkey, but its fortunes are posed to change if the new half-billion-dollar local car-making plant is completed. Mermerler Otomotiv, the Turkish company which brought Chery to Turkey back in February 2008, has prepared all ...

U.S. agency investigates 865,000 GM SUVs over faulty fuel gauge concern

U.S. National Highway Traffic Safety Administration (NHTSA) said Friday on its website that it is investigating inaccurate fuel gauges on 865,000 General Motors Co. SUVs, according to Detnews. The Federal regulator said it had opened a preliminary investigation into 865,000 of ...

China's MOF allocates another 33.7 bln yuan to fund public housing

China's Ministry of Finance said Friday it has added another 33.7 billion yuan (about 5.19 billion U.S. dollars) in subsidies to fund public housing projects. The central government subsidies will be used to support construction of low-rent housing and public rental housing ...

CEC warns 30m-kW power shortage

The China Electricity Council (CEC) issued a report Thursday forecasting the nation may face an electricity shortage of 30 million kW in the summer, according to a Sina.com report. "The 30 million kW electricity shortage is equivalent to the total installed capacity of Fujian or ...

China Shipbuilding Industry sees 2010 net profit up 7.28%

China Shipbuilding Industry Co. (CSIC), the country's northern shipbuilding giant, said Saturday that its net profit last year rose 7.28 percent year on year to 1.599 billion yuan(about 246 million U.S.dollars). The shipbuilder said in a statement filed with the Shanghai Stock ...

China's gross marine product value approaches 4 trillion yuan in 2010: report

The gross product value generated by China's marine industry exceeded 3.84 trillion yuan (590 billion U.S. dollars) last year, up by 12.8 percent from 2009, according to an annual report released Friday. In the next five years, the annual growth rate of China's emerging marine ...

Higher incomes lead to surging home prices

Rising household incomes in China are contributing to the surge in housing prices, in addition to loose credit policies and the practice of local governments' fund raising through selling land, People's Daily reported Friday, quoting scholars. Higher incomes gave residents ...

14 receive sentences in tainted milk cases

Local courts in Shanxi and Hebei provinces in North China convicted and sentenced 14 people on Friday for producing or selling tainted milk powder. Among the 14 involved in four tainted-milk cases, two received life imprisonment, four received sentences of 10 to 15 years in ...
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