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Shandong Airlines to buy 15 Boeing planes: SHANDONG Airlines said Friday it planned to buy 15 Boeing passenger planes worth up to US$1.2 billion amid fast-growing demand for air travel in the increasingly prosperous country. The catalogue price of each Boeing 737-800 aircraft is between US$75 million and US$80 million but ...

BYD to roll out electric cars at U.S. auto show: BYD Co. Ltd., one of the most widely-watched emerging Chinese automakers, plans to unveil two advanced technology vehicles at the Detroit auto show next month: An all-electric 2012 E6 crossover, and a S6DM hybrid. BYD, a Shenzhen-based battery maker that branched out into the ...

HK sees fast growth in yuan trade, fine-tunes rules: THE Hong Kong Monetary Authority (HKMA) has fine-tuned its yuan trade settlement program to ensure stable development of the fast-growing key offshore market for the yuan. Norman Chan, chief executive of the HKMA, forecast demand for yuan trade settlement in Hong Kong would reach ...

US$30 billion for water saving projects: CHINA planned to invest US$30 billion on water conservation projects in 2011 to reduce the impact of natural disasters on grain production, domestic media said Saturday. The report comes after severe flooding and droughts across the country this year destroyed crops and drove up ...

News Bites: Shenzhen liquefied gas imports up MORE than 5.81 million tons of liquefied gas worth US$2.1 billion were imported through Shenzhen ports in the eleven months to November this year, up 21.7 percent over the same period last year, according to Shenzhen Customs statistics. The ...

Government retroactively exempts consumption tax on biodiesel: THE Finance Ministry has retroactively exempted consumption tax on pure biodiesel made from waste animal fats or vegetable oils, and will refund taxes already paid over the past two years. The policy was backdated to Jan. 1, 2009, the ministry said in a statement on its Web site ...

China invites South Africa to join BRIC group: CHINA had invited Africa s largest economy, South Africa, to join the four-member BRIC grouping of fast-growing emerging markets, Xinhua News Agency reported Friday. Chinese Foreign Minister Yang Jiechi said BRIC had accepted South Africa as a full member of the group, which ...

Walmart invests in Chinesee-commerce firm 360buy: WALMART Stores Inc., the world s largest retailer, has invested in China s top online seller of consumer electronics and communication products, in a push to extend its reach to more Chinese buyers. Chinese online business-to-consumer company 360buy Jingdong Mall secured US$500 ...

China aims to improve trade balance in 2011: CHINA would try to import more in 2011 while keeping exports steady, Commerce Minister Chen Deming said yesterday, in a sign that the world s second-largest economy is keen to pull more weight as a consumer. In a statement on the ministry s Web site, Chen said China wanted to ...

Nation may try new waysto manage bank credit: THE central bank was considering changing a key component of its monetary policy management by altering the way it manages bank credit, three sources close to the matter told Reuters on Tuesday. Under the proposed changes, the People s Bank of China (PBOC) could judge how much a ...

Nation raises mortgage ratesin line with interest rates: CHINA raised mortgage rates by 25 basis points yesterday, the Ministry of Housing and Urban-Rural Development said, the second increase this year, after benchmark interest rates increased Saturday. After yesterday s move, the rate for mortgage loans longer than five years will be ...

News Bites: State Grid buys Brazil electricity assets STATE Grid Corp. of China completed the purchase of seven electricity distribution businesses in Brazil for US$989 million, the government said. Beijing-based State Grid would run electricity transmission services in the southeast of ...

Maotai price rises 40% in six months: MAOTAI, or Moutai (the spelling used by the production company), a Chinese liquor, has seen its retail price increase by 40 percent over the past six months in Shenzhen, according to a Shenzhen Economic Daily report yesterday. Reporters of the newspaper found that a bottle of ...

China baby boom driveschildren s products market: Cao Zhen SHENZHEN will have its first international exhibition for maternity, baby and children s products in September 2011. Industry experts estimated that the national sales volume of these products would surpass 1 trillion yuan (US$149 billion) this year driven by the country ...

China caps boom year for autos with GZ show: CHINA S second major auto show for 2010 opened yesterday in Guangzhou, capping a year of record sales for the country s booming auto market even as it faces the prospect of slowing growth. Unlike its glitzier cousins in Beijing and Shanghai, which are held in alternating years ...

Auto GZ News Bites: Ford sees JV selling record Ford models FORD Motor expected its China car venture to sell a record 305,000 Ford brand vehicles this year, up 32 percent from a year earlier, a senior company executive said yesterday. Sales of Ford models made at its China car venture were expected ...

China urges easing of EU high-tech export ban: CHINA urged Britain on Tuesday to lobby for an easing of European Union controls on high-tech exports to China. We hope our British colleagues can help urge the European Union to relax its restrictions on high-tech exports to China, international trade representative Gao Hucheng ...

News Bites: 2009 GDP growth rate revised up to 9.2% THE government Tuesday revised its gross domestic product (GDP) growth rate in 2009 to 9.2 percent from the previous 9.1 percent. In a statement on its Web site, the National Bureau of Statistics (NBS) gave no explanation for the revision, ...

News Bites: 2010 auto sales up 32% to 18.06m CHINA S auto sales hit 18.06 million last year, up 32.37 percent from the previous year, the China Association of Automobile Manufacturers (CAAM) announced yesterday. China s car output topped 18.26 million last year, an annual increase of 32.44 ...

More charging stations for electric cars: THE State Grid Corp. of China (SGCC) planned to build more electric charging stations in Beijing and several other cities this year to meet rising demand for electric vehicles, a Beijing newspaper reported Saturday. The country s dominant electric power transmission company would ...

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