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Liquor shares fizzle despite festival sales surge

Liquor producers in China have enjoyed brisk sales while the country celebrates the Spring Festival but their stocks have disappointed investors who bet on the holiday spending spree. Shares of white spirits and wine producers have declined by an average of 5.72 percent over the ...

MediaExpress denies inflating figures

China MediaExpress Holdings Inc, which displays video advertisements on buses in China and plunged 33 percent in US stock trading on Thursday, said three companies were wrong in saying it deceived investors with its financial reports. The Hong Kong-based China MediaExpress ...

More Carrefour stores caught overcharging

Two more Carrefour stores were found to have overcharged customers, after 11 of the French retailer's stores in China were fined 500,000 yuan ($76,000) each in a government campaign to crack down on price manipulation during the Spring Festival holiday. Guangzhou-based New ...

Agria offers 'favorable' bid

PGG Wrightson Ltd, New Zealand's biggest agricultural services company, recommended shareholders accept an offer from China's Agria Corp while reiterating that a rival bid is possible. The offer is within fair value and at "favorable" earnings multiples, the Christchurch-based ...

Shenhua profits up 23 %

China Shenhua Energy Co, a unit of the country's biggest coal producer, said its preliminary profits rose 23 percent last year as increased demand drove up prices. Net income climbed to 37.2 billion yuan ($5.7 billion) from 30.27 billion yuan a year earlier, the coal producer ...

DBS starts yuan investment

DBS Group Holdings Ltd, Southeast Asia's biggest bank, said individual customers in Singapore are now able to purchase and deposit yuan to take advantage of China's currency appreciation and rising interest rates. Investors may buy yuan in Hong Kong's offshore market using ...

Real estate sales strong in Hainan

Property sales and prices in Hainan, China's first international tourism island, rebounded during the city's tourist high season, with investors increasingly looking for opportunities in the commercial sector. According to the National Bureau of Statistics, the price of ...

Property market to stall as new regulations bite

Around 20 percent of registered residents in Beijing will not be able to buy a new apartment this year after the new round of policy tightening kicks in. That could lead to a 20 to 30 percent fall in property sales and stall price growth, according to industry experts. The ...

MCC accelerates expansion

Real estate arm in Singapore looks to grow rapidly overseas The real estate arm of China Metallurgical Group Corp (MCC) is quickening property development in Singapore, making it China's first State-owned real estate firm to expand overseas amid rigorous property policies at home...

IHG rebrands Holiday Inn for Chinese market

Holiday Inn Express is upgrading its image by announcing its new Chinese name to further boost its presence and competitiveness in the country's mid-scale market as the territory of economy hotels is mostly dominated by domestic brands. With its English name unchanged, the hotel ...

Business and tourism bridge Taiwan Strait at Spring Festival

Red jumbu, a tropical fruit from Taiwan, sells for about 100 yuan ($US 14.9) per kg at a supermarket in Xiamen, a mainland city located right across the Taiwan Strait. And sales are good during China's traditional Spring Festival. "The sales of all fruits imported from Taiwan has ...

China tops world in gold output in 2010

China, which became the world's largest gold producer since in 2007, retained its position again in 2010 by mining 340.88 tonnes, up 8.57 percent year on year, the China Gold Association said Sunday. Increases in gold output will help China hedge against financial risks and ...

Global IT product processing base in E. China exports more

East China's Jiangsu Province, home to global IT (information technology) products manufacturing and processing base, exported 103.66 billion U.S. dollars worth of IT products in 2010, a rise of 28.7 percent on 2009, according to the provincial commerce bureau. The amount ...

China has 4.6 million trademarks

China registered 4.6 million trademarks at the end of 2010, with the number of trademark applications exceeding 1 million last year, according to the State Administration for Industry and Commerce. Despite the huge number, only one out of eight economic entities in China had a ...

Huadian's new energy unit seeks public listing in 2011

China Huadian Corp., one of China's five major power utilities, said Sunday it would speed up the public listing of its new energy unit this year to expand the corporation's presence in the renewable resources sector. Yun Gongmin, general manager of China Huadian Corporation, ...

China's banking industry expects growth during 12th Five-Year Plan

Despite profound changes in the global economy, China's banking industry expects steady growth during the 12th Five-Year Plan (2011-2015), a senior banker said Saturday. China's steady and relatively fast economic growth is expected to lay a solid basis for the development of the ...

China's forestry output value to top 2.4 trillion yuan in 2011

The commercial value of China's forestry products is expected to hit 2.4 trillion yuan (364.74 billion U.S. dollars) in 2011, according to the State Forestry Administration. The value of forestry industry output stood at 2 trillion yuan last year. Rosin, rattan and bamboo ...

Energy efficiency of China's energy intensive sectors up 20 pct in past 5 years: NBS

The energy consumption per unit of gross domestic product (GDP) for China's major energy intensive industries decreased by more than 20 percent during the 2006-2010 period, the statistics authorities have reported. The National Bureau of Statistics (NBS) attributed the rising ...

Carrefour China welcomes public input as price review gets underway

Carrefour China apologized again to the public Tuesday and promised to introduce public supervision of prices after consumer authorities blacklisted it for cheating on prices last week. It was the company's second apology since Jan. 26, when the National Development and Reform ...

Jaguar, Land Rover both saw blistering growth last year

British luxury icons Jaguar and Land Rover registered blistering growth in 2010 as both brands set new sales records in China. Deliveries of Jaguar increased 50 percent to 2,655 units last year while sales of Land Rover more than doubled to 23,459 units. Bob Grace, president of ...
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