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China's No.1 rare earth producer maps out production boosting plan

China's top rare earth producer, Baotou Steel Rare-Earth (Group) High-Tech Co., said Wednesday it would markedly increase its market share of five major rare earth products including magnetic materials in the next five years. Zhang Zhong, general manager of the company, said that ...

Air China to buy five Boeing 747-8 jumbo jets

Air China signed a formal agreement with Boeing on March 7 to buy five Boeing 747-8 Intercontinental passenger jets, making it the first Chinese buyer for Boeing's newest, fuel efficient intercontinental passenger jet. The contract is being finalized at this stage. The related ...

CPPCC member calls for fair distribution of wealth

To preserve and improve the people's livelihood, it is the most important to ensure the equitable distribution of wealth in our society, said Chinese People's Political Consultative Conference (CPPCC) member Liang Xiaosheng in an interview. "Only the equitable distribution of ...

Beijing-Shanghai high-speed rail to fully operate at end of June

The Beijing-Shanghai high-speed railway will open and begin operations by the end of June 2011, and the Beijing Railway Administration will simultaneously launch the telephone booking and Internet booking services, said Huang Guizhang, NPC member and president of the Beijing ...

China Eastern inks co-op agreement with Xinhuanet

China Eastern Airlines Corp. signed a cooperation agreement with Xinhua Network Co. Ltd, the portal of Xinhua News Agency, Wednesday. The two parties signed a strategic cooperation framework on operations in the fields of flight information service, brand promotion, market ...

Indian telecom operator inks big loan agreement with China's lender

Indian private-owned leading telecom operator Reliance Communications Wednesday said that it had signed the final document to tap 1.93 billion U.S. dollars loans from Chinese lender China Development Bank (CDB). As the largest loan in Indian telecom sector, the loan facility is ...

Online music industry reports increased harvest

Online music content and service providers in China earned about 2.3 billion yuan (349.8 million U.S. dollars) last year, up 14.4 percent from 2009, said a report released by China's Culture Ministry on Wednesday. According to the report, 2.02 billion yuan, or 90 percent of the ...

3M sees clear path to sales

United States-based 3M is eying opportunities offered by the huge amount of mobile phones in use in China as the firm provides screen protectors for the phones. "We have seen the huge demand here because so many people use iPads and iPhones. China is a huge market and it's ...

For FAW, the name is the game

FAW Group Corporation, China's second-largest auto manufacturer by sales, is targeting a 10 percent increase in sales revenues this year as it expands the development of its brand portfolio. "The sales revenues of FAW Group will see a 10 percent increase this year, and we plan to ...

China seeks global suppliers for jumbo jet engines

China's jumbo jet engine developer said on Tuesday that it was seeking local and foreign partners to supply parts for the country's large commercial jets engines. AVIC Commercial Aircraft Engine Co (ACAE) started seeking suppliers to take over work packages for an engine program, ...

Starbucks rolls out new logo

The World's largest coffeehouse company Starbucks on Tuesday rolled out its new logo to celebrate its upcoming 40-year birthday. The Seattle-based company said in a statement that the new logo removes the Starbucks wordmark around the siren and enlarging the siren image. The ...

Qinghai launches its first int'l cooperation in sports science

Japan's Sendai University Taiji Houzawa, the president of Sendai University of Japan, signed an international exchange agreement with Qinghai Provincial Institute of Sport Science on March 7, the day he visited Qinghai Duoba National Plateau Sports Training Base for academic ...

Service sector poses more opportunity

China's plan to develop modern service industries during the 12th Five-Year Plan (2011-2015) period may be released in the first half of this year, China Securities Journal reported Tuesday citing authoritative resources. The source said the State Council has decided to include ...

China Mobile to launch high-speed 4G net cards

China Mobile has launched large-scale telecommunications technology testing of the fourth-generation (4G) of its Time Division-Long Term Evolution (TD-LTE) in seven cities. Soon it will launch 4G net cards in the latter half of this year. The 4G cards are 10 times faster than the ...

Barbie flagship store in Shanghai closed

The flagship Barbie store in Shanghai was suddenly closed on March 7, 2011 after just two years. Sources from Mattel Incorporated said that the Barbie Shanghai flagship store has completed its mission of popularizing the Barbie brand in the Chinese market and the closure is due ...

Rare earths to be more tightly controlled

China will more tightly control the exploration for rare-earth minerals and unify the distribution of precious metals in North China to regulate the previously over-exploited sector, government officials said on Monday. The Inner Mongolia autonomous region's Bayan Obo Mine in ...

Xi'an Aircraft Int'l Corp. net profit up 9% last year

Net profit of Xi'an Aircraft International Corporation (XAIC), a China-based aircraft maker and components supplier, rose 9.47 percent year on year to hit 345.56 million yuan (about 52.36 million U.S. dollars) last year, the company announced Tuesday. Total business revenue ...

Air China to buy 5 Boeing planes

Air China Ltd. announced Tuesday it would buy five B747-8 airplanes from Boeing Company in a bid to further expand its fleet size. The value of the deal is estimated to reach 1.54 billion U.S. dollars, but actual prices might be adjusted, Air China said in a statement filed with ...

China to slash drug prices, saving 1.5 billion USD

China has vowed to lower the maximum retail prices of some antibiotics and circulatory system drugs by 21 percent on average beginning on March 28. It is estimated to save a total of nearly 10 billion yuan, or 1.5 billion dollar for citizens. The price cut pushes China one ...

Labor shortage mainly affects coastal labor-intensive employers: minister

China's human resources minister said Tuesday labor shortage is a structural problem which mainly affects the labor-intensive manufacturing and service sectors in east coastal areas. "On the whole, China still has labor surplus, and the shortage mainly arises from difficulties in ...
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