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Hainan Airlines reports 8 percent increase in first-quarter net profits

Hainan Airlines said on Wednesday that its net profits rose 8.24 percent over the previous year to 273 million yuan (41.8 million U.S. dollars) in the first quarter of this year. Revenue totaled 5.76 billion yuan in the first three months of this year, up 23.14 percent from a ...

China's press, publication industry set to target overseas markets

China plans to double the output value of its press and publication industry in the next five years, according to the country's General Administration of Press and Publication (GAPP). The annual growth rate of the entire press and publication industry is expected to be around 19 ...

China to cool overheated aluminium sector

China is making efforts to curb over production in its aluminium sector, according to a notice posted on the Web site of the Ministry of Industry and Information Technology (MIIT) on Wednesday. Local governments must immediately suspend electrolytic aluminium and forbid any ...

China's top power producer posts profit decline in Q1 on surging fuel cost

China's largest power producer, Huaneng Power International, posted on Wednesday a decline of 76.25 percent in net profit for the first three months this year on surging fuel costs. Net profits totaled 226.26 million yuan (34.68 million U.S. dollars) from January to March this ...

West China municipality to create region's largest aviation logistics center

Chongqing Municipality will start building the largest aviation logistics center in west China in order to better serve the region's booming economy, the municipal economic and trade commission said Wednesday. Located on the eastern side of the Chongqing Jiangbei International ...

China to implement new Internet regulation: MIIT

China will implement a new regulation to further control the online industry after a dispute between two Chinese Internet giants, Tencent and Qihoo 360, caused harm to their users, the Ministry of Industry and Information Technology said Wednesday. Zhang Feng, director of the ...

Chinese central SOEs post 22.4 pct increase in net profit

Chinese state-owned enterprises that are under the central government, or central SOEs, posted a net profit increase of 22.4 percent for the first three months of this year. The combined net profits of the 121 central SOEs totaled 208.58 billion yuan (31.96 billion U.S. dollars) ...

Sinopec halts exports of refined oil to ensure domestic supply

China Petrochemical Corporation (Sinopec Group) on Wednesday said it had suspended exports of its refined oil products, except those to Hong Kong and Macao, in order to ensure supply at home. Due to the turmoil in the Middle East and the quake in Japan, Sinopec is facing heavier ...

China's SMEs report higher industrial value-added output growth, more losses

Industrial value-added output of Chinese small and medium-sized enterprises (SMEs) grew 16.9 percent year-on-year in the first quarter of 2011, 2.5 percentage points higher than the overall industrial value-added output level, the Ministry of Industry and Information Technology ...

Chinese firms "face barriers"

Despite a sharp reduction in the number of trade remedies against Chinese goods and services launched by trading partners last year, Chinese companies still face trade and investment barriers, the Ministry of Commerce said on Tuesday. In 2010, 66 trade remedy investigations, ...

New iPhone said in pipeline

Apple Inc's next-generation iPhone will have a faster processor and will begin shipping in September, three people with direct knowledge of the company's supply chain said. The production of the new iPhone will start in either July or August and the smartphone will look largely ...

Apple reports better-than-expected quarterly earnings

Apple Inc. on Wednesday reported record second fiscal quarter results that beats analysts expectations, citing strong demands for its products. For its fiscal 2011 second quarter ended on March 26, Apple posted net income of 5.99 billion U.S dollars or 6.4 dollars per share, ...

Huawei, Motorola dial in settlement deal

China's leading telecom equipment company Huawei Technologies announced on April 13 that it has reached a settlement with its former partner Motorola Solutions in a far-reaching dispute over intellectual property. Industry analysts estimate Huawei will now receive about $200 ...

Show on the road to a greener future

The 14th Shanghai International Automobile Exhibition, which opened yesterday with 75 world debuts and 1,100 models on display, set the stage for car makers to test inspiring designs, ponder new technologies and unveil strategies for the world's largest auto market. With rising ...

VW aims to tap local expertise

Visitors check out the new Passat sedan at the Volkswagen booth at the Auto Shanghai 2011 show yesterday. The German auto maker said it would take more advantage of engineering capabilities in China in its future product development. Volkswagen AG said it took advantage of China...

6,000 Chinese convicted of IPR infringement in 2010

China's courts concluded 3,942 criminal cases involving IPR infringements last year, up 7.7 percent from 2009. A total of 6,000 people were found guilty of intellectual property rights (IPR) infringements. The figures were included in a Supreme People's Court (SPC) white paper ...

China's agriculture sector faces rising costs in 2011: think tank

China's agriculture sector is expected to face increasing pressures from rising costs in 2011, according to China's Rural Economy (2010-2011), a report released Tuesday a leading think tank. Fertilizer prices, which increased during the fourth quarter last year, were likely to ...

Dagong Global sees stable outlook for Chinese banking sector

Dagong Global, a major Chinese credit rating agency, assessed the credit rating of China's banking industry as "stable" in its seventh banking credit rating report released Tuesday. "Dagong made its assessment based on factors such as the financial strength and potential external ...

China Vanke reports 7 pct rise in first-quarter net profits

China Vanke Co, the country's largest developer by market value, said Tuesday that its net profits rose 6.97 percent year on year in the first quarter on stronger sales. Net profits in the first three months totaled 1.21 billion yuan (185 million U.S. dollars), the company said ...

China's B2B site launches service platform to facilitate trade

China's online business-to-business (B2B) marketplace for wholesale products, DHgate.com, announced Tuesday the launch of DHgate Express, an integrated service platform to help small and medium traders in China better tap the overseas market. The platform will offer a wide range ...
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