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L'Oreal smiles on students faces

Cosmetics company L'Oreal has developed a corporate social responsibility in the form of financial and mental support for college students. In 2010, Wu Caitianzi, a senior journalism student at Minzu University of China, took part in L'Oreal's on-campus charity sale for the third ...

BYD drops 100 dealers after sales disappoint

Following dealer pullouts last year, carmaker BYD has admitted its sales network grew too fast and has cut the number of dealerships by 100, domestic media said. The report said Wang Chuanfu, board chairman of BYD, disclosed the information at the North American International ...

Currying favor with the Chinese

By importing Indian food and opening more restaurants, the Zhuhai-based India Kitchen group is building a spices kingdom in China with an annual sales revenue beyond $10 million. "As the population from Arabic regions increases fast in China, we are seeing a large demand in curry ...

China's leading military industrial company aims high on new energy development

The China South Industries Group Corporation (CSGC), the nation's leading military industrial company, said on Saturday that it would make more efforts focused on new energy development during the next 5 years. The company also announced that its 2010 profits increased 37.5 ...

Oil, gas output tops

China National Petroleum Corporation, the nation's largest oil and gas producer, said Thursday that its 2010 crude oil and gas output exceeded the equivalent of 200 million tons of oil. Domestic oil production hit 1.05 trillion tons, while gas was 72.5 billion cubic meters. The ...

Steelmakers Try to Improve Profit Margin by Selling Other Products

A number of Chinese steelmakers are making serious expansions into the "non-steel" sectors, as they deem this is the way to survive the meager profit margin from their traditional business, the 21st Century Business Herald reported. A month ago, a subsidiary of Wuhan Iron & Steel ...

Coal output in China's NO. 1 coal-producing region hits 782 mln tonnes in 2010

Inner Mongolia's coal output reached 782 million tonnes last year, making it the nation's largest coal-producing region for a second year running, local authorities said Friday. The output accounted for about 24 percent of China's total and was higher than neighboring Shanxi ...

China's 2010 software copyright registration doubles

IP right protection in China, particularly for copyright holders', has been strengthened over the past few years. Software registration doubles Figures released by the nation's Copyright Protection Center shows that software registration accepted last year was doubled, the volume ...

Online gaming up 25%

Online games market rose 24.7 percent in the fourth quarter last year to hit 9 billion yuan ($1.36 billion) with Tencent Holdings and NetEase.com extending their market share, iResearch showed Thursday. At the end of the fourth quarter, Tencent had 31 percent of the market ...

Korean retail giant to go it alone

South Korea's Lotte Department Store announced Wednesday that it will open 20 wholly-invested stores in China, trying to snap up more of the world's fastest growing economy amid an increasingly saturated retail market at home. The new plan will give the retail giant 20 department ...

Jinan Truck unit involved in bank fraud

CNHTC Jinan Truck Co Ltd, a Chinese maker of heavy-duty vehicles, said Thursday that a subsidiary was involved in a bank fraud that could threaten repayment of 500 million yuan ($75.67 million) worth of deposits. Jinan Truck did not identify the bank. But local media, including ...

Air China soars

Air China said Thursday that preliminary figures showed its net profit in 2010 was up more than 200 percent over 2009. Profit in the third quarter of 2010 reached 5.17 billion yuan ($782.24 million), up sixfold from a year earlier.

No fundraising for ICBC

The nation's largest lender, Industrial and Commercial Bank of China (ICBC), said it will not conduct fundraising from the capital markets within three years, the Chinese-language Securities Times reported Thursday, citing the bank's chairman. Chinese lenders raised $80 billion ...

China world's No.1 in installed wind power capacity

China overtook the US to win the title of largest installed wind turbine capacity in 2010 globally, though failed to meet the set quota of renewable energy in its energy portfolio. Last year, the nation increased its total wind power capacity to 41.8 gigawatts, up 16 gigawatts or ...

Garbage dealing industry to see huge market chances

A guideline on dealing out with household garbage in urban areas has been submitted by 15 departments, including the Ministry of Environmental Protection, to the State Council for approval and is expected to be released at the beginning of 2011. The guideline would bring large ...

Turkish air expands

Turkish Airlines announced that the airline will expand its extensive network to 11 new destinations including Guangzhou in South China from January 30 this year. The route is scheduled to run three times per week.

Hong Kong airport traffic sets records in 2010

Hong Kong International Airport set new records in three categories passenger traffic, cargo and air traffic in 2010, the airport announced on Jan. 16, 2011. According to statistics, the Hong Kong International Airport transported more than 50 million passengers, up 10.3 percent. ...

China's C919 jumbo jet will make first flight in 3 years

China's domestically-developed C919 jumbo jet will fly for the first time in 2014 and will go on the market in 2016. The Chinese regional jet ARJ-21, which has already completed a successful test flight, will be put on market in 2011, according to the Commercial Aircraft ...

Chinese bank opens first subsidiary in France

The Industrial and Commercial Bank of China (ICBC) inaugurated its first French branch in Paris on Tuesday. At the ceremony, ICBC President Jiang Jianqing and French Finance Minister Christine Lagarde jointly pressed a red button to symbolically launch the new subsidiary of the ...

China's Haier sees profit up 78%

Haier Group, one of the world's leading white goods and household appliance manufacturers, announced Sunday that its profit jumped 78 percent year on year in 2010. The profit hit 6.2 billion yuan (941.8 million U.S. dollars) in 2010, said Du Fangyuan, a press office coordinator ...
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