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China's Q1 lottery sales up 34 pct: ministry

China's first-quarter lottery sales rose 33.8 percent year-on-year to reach 46.31 billion yuan (about 7.09 billion U.S. dollars), the Ministry of Finance (MOF) announced Monday. Sales of welfare lottery tickets in the first three months jumped 34.4 percent year-on-year to 27.15 ...

Domestic demand to drive China's auto market forward

CHINA'S auto market will continue to drive forward as firm domestic demand is set to continue over the coming years, with car makers also investing more in new energy vehicles and becoming more environment conscious. While the global automotive industry is struggling to recover ...

French carmaker PSA Peugeot Citroen steers toward 8 pct share in Chinese market

French carmaker PSA Peugeot Citroen hopes to increase its share in the Chinese market to 8 percent by 2015, the company's CEO Philippe Varin said Monday in Shanghai. The target is a step up from the company's less than 4 percent market share in the world's largest auto market ...

China will put the brakes on its economic bullet train (2)

Economic data from the first quarter points to steady and balanced growth, which is in line with the government's goal of transforming the country's development mode, said Zuo Xiaolei, chief economist at China Galaxy Securities. After relying on exports and government investments ...

China will put the brakes on its economic bullet train (3)

"We will ensure that consumption, investment and export contribute to economic growth in a coordinated way," Hu said. The key to stimulating domestic demand is to increase household income, which will promote consumption and encourage sustainable economic growth, said Xu ...

China's Huawei sales up 24 pct in 2010 thanks to overseas expansion: annual report

Sales revenue of China's Huawei Technologies rose 24.2 percent year on year to 185.2 billion yuan (28.4 billion U.S. dollars) in 2010, the telecom equipment maker said in its annual report released on its website Monday. Huawei attributed the growth mainly to its fast-growing ...

China places firmer lid on home prices

China's harsh measures to cool down a torrid pace of home market has shown rising signs of success, as more Chinese cities reported a stagnation or a decline in their home prices in March. Market analysts say their China's monetary tightening to tame inflation by consistently ...

Boeing's newest China plant to launch production in 2013

The China office of U.S. aircraft manufacturer Boeing said Monday that an expansion of its China venture in north China's port city of Tianjin will be operational in 2013. The 21-million-U.S.-dollar project will double the size of Boeing Tianjin Composites Co. Ltd., a joint ...

Huawei's rapid rise may topple Ericsson

Huawei Technologies Co's revenue last year jumped 24 percent annually and its rapid growth may see the Chinese firm overtake Sweden-based Ericsson to become the world's No. 1 telecommunications equipment maker this year, according to industry insiders. The Shenzhen-based firm, ...

China to boost integrated circuit sector

China will boost the integrated circuit (IC) sector at a "state strategy" level over the next five years through 2015, Yang Xueshan, vice minister of industry and information technology has said. China's IC sales will likely top 330 billion yuan ($50.54 billion) in 2015 and meet ...

Faced with delisting, TCM firm tries to survive EU ban (2)

LIMITED INFLUENCE Thorny as it is for these Chinese products to be removed from the EU market, the potential economic loss for Chinese firms delisting may be minimal since the primary markets for traditional Chinese medicine are the Chinese domestic and the Southeast Asian ...

China's leading toothpaste maker posts 35-pct decline in profit

Liuzhou Liangmianzhen, one of China's leading makers of oral hygiene products, posted on Sunday a decline of 35 percent in net profit in 2010 on soaring costs and fierce competition. Net profit totaled 10.83 million yuan (1.66 million U.S. dollars), and earnings per share stood ...

'China's steel output growth to slow to 6% over next 5 years'

China's steel output growth will slow down to an average annual expansion of 6 percent over the next five years amid the country's efforts to restructure its economy, Li Shijun, chief analyst for the China Iron and Steel Association (CISA), said on Saturday. Li told attendees at ...

Chinese software not a threat

The rise of China's software and services industry does not pose a threat to India, as India focuses on exporting to developed markets, while China focuses on serving its domestic market, said a top Indian software executive at the weekend. "The Indian software and services ...

KDS aims to tap online traffic as real income

KDS, Shanghai's biggest online forum with 7.5 million users, started a service which will review restaurants and shops as the website seeks to tap the online traffic into real income. Launched at the weekend, the new shop review service, along with online coupons and a forum ...

China to boost IC sector as 'state strategy'

China will boost the integrated circuit (IC) sector at a "state strategy" level over the next five years through 2015, Yang Xueshan, vice minister of industry and information technology has said. China's IC sales will likely top 330 billion yuan (50.54 billion U.S. dollars) in ...

Volvo recalls 82 faulty trucks in China

File photo: Volvo FM trucks Volvo (China) Investment Co., Ltd. will recall 82 of its imported trucks on the Chinese mainland starting on Friday due to defects in their steering system, China's quality watchdog said on Friday. The recall will involve imported FM, FH and FE trucks ...

Volvo Penta to plunge into segment

Volvo Penta, Europe's largest industrial and marine power system provider, will target China's emerging pleasure boat market as its growth engine in the near future, said the company's executives. "To maintain our market position, we plan to invest 500 million yuan ($76.54 ...

Easou gets new round of funding

Shenzhen Easou Technology Co Ltd, which has run China's first mobile search engine Easou.com since 2005, said it received $50 million in a new round of funding and may go public on the Nasdaq in New York as early as 2013. SB China Venture Capital, the Hsinchu, Taiwan-based ...

China's power consumption up 13.4% in March

China's power consumption rose 13.41 percent year on year in March to 388.8 billion kilowatt hours (kwh), the National Energy Administration (NEA) said Thursday. Combined electricity use in the first quarter totalled 1.09 trillion kwh, up 12.72 percent from a year earlier, the ...
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