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New round of formula price rises hits China

As the price of imported milk powders continued to soar, the price of domestic brands also started to increase recently, the Chongqing Times reported Thursday. The price of Heilongjiang Wondersun Dairy Co's infant formula increased to 218 yuan from 184 yuan per 900g, while other ...

Right recipe for recycled cooking oil

With the world's largest population and a native cuisine noted for its use of oil as an ingredient, China consumes about 25 million tons of cooking oil each year, about one fifth of the global total. Yet what to do with used oil and how to tap its commercial value have long posed ...

Retailers protest e-commerce low prices

An online-store owner on Taobao.com refused to budge on Tuesday after 100 off-line retailers accused the owner of violating corporate pricing rules by selling cheaper goods and staged a protest in front of the headquarters of Taobao.com. A quick look at the store, "Shanhuolang," ...

Luxuries cost nearly 8% more

China's wealthy have forked out 7.7 percent more for luxury consumer products so far this year than a year earlier due to growing demand, import duties and fluctuating exchange rates, Hurun Report said on Monday. The costs of renting private aircraft and prices of yachts rose the ...

Noodle chain says soup concentrated

Media reports suggesting Ajisen Ramen uses cheap powders and other instant seasoning for its noodle soup, instead of boiling pig bones for hours as its advertisements suggest, have failed to deter the chain's customers in China. "I don't mind their using concentrated soup as long ...

Real estate wealth shrinks

Families which made their money in the real estate industry saw their wealth shrink by more than 80 percent annually so far this year because the Chinese government imposed several measures to curb speculation in the property market, according to a survey on Sunday. The combined ...

China builds credit files for food companies

China's top quality watchdog said Saturday that it will strive to build credit files for all the food companies and food-additive producers in the country before the end of the year. The General Administration of Quality Supervision, Inspection, and Quarantine said the mechanism ...

Scandal-battered Shuanghui to clean up tainted meat

Henan Shuanghui Investment and Development Co., Ltd., the listed arm of China's largest meat processor Shuanghui Group, announced that it would clean up nearly 3,800 tonnes of clenbuterol-tainted meat in a bid to ease consumers' concern. The tainted meat, 3,768 tonnes in total, ...

China's textile sector sees 30% rise in H1 output

China's textile industry posted a 30-percent growth year-on-year in output in the first half of this year in spite of a raft of challenges, the Ministry of Industry and Information Technology said. Output of the industry hit 2.39 trillion yuan (370.7 billion U.S. dollars) in the ...

Da Vinci admits some products mislabeled

The scandal-hit furniture dealer Da Vinci told its Chinese customers it was "sorry" and admitted failing to properly label the country of origin of some products and adequately train the sales staff, who sometimes misled customers, in a statement released on Friday. Da Vinci said ...

Developers play waiting game to buy land

Aborted attempts to bid for 121 pieces of lands in Zhejiang province in the first half of 2011 are not signs of an imminent cool-down in the real estate market, analysts said. They said bidders withdrew from some land auctions because these sites are located in remote areas and ...

More affordable housing will strengthen social safety net

China's top government officials this month have focused on the construction of affordable housing, underscoring the urgency to address the dire living needs of city dwellers amid rocketing property prices and high rental fees. Vice Premier Li Keqiang said that affordable housing ...

Beijing sees 48% plummet in land transfer fees

Land transfer fees in 130 Chinese cities totaled 752.4 billion yuan ($116.54 billion) in the first half of this year, down 5.5 percent year-on-year, the Beijing Times reported Wednesday, citing data from the China Index Academy. Land transfer fees in Beijing decreased the most - ...

Delivery firms closed in crackdown

The State Post Bureau of China closed down 73 unlicensed express delivery firms during the first half of its year-long crackdown on irregularities in an industry dominated by small private companies. The bureau said that by June 30 it had identified nearly 1,200 irregularities, ...

Retailer eyes more stores

The promising consumer market on the Chinese mainland is attracting Taiwan firms to invest more while their mainland counterparts are looking for deeper cooperation. Shin Kong Mitsukoshi, a department store in Taiwan, has unfolded its investment plan on the mainland after its ...

Investors turning to big-city business properties

Restrictions on home purchases are spreading to more second- and third-tier cities, increasing the chance capital will flow back to first-tier cities' commercial properties, analysts said on Tuesday. The central government said it will expand limitations on property purchases to ...

Banking on buying into bubbles

A possible banking crisis in China lurks less in real estate bubbles than in the political economy of local governments. Though I am a victim of astronomically high housing prices, I don't see an imminent danger of banks going broke for financing the real estate bubbles now ...

Deutsche Post sells express service

Deutshc Post AG has sold its money-losing domestic express delivery service on the Chinese mainland and will focus on international business in future. It blamed fierce competition and a change in the law for the decision. DHL-Sinotrans International, a 50-50 joint venture by the ...

Property stocks drive Chinese share market down

Chinese shares fell on Monday as property developers dropped on speculation that the government may take further steps to cool its scorching real estate market. The benchmark Shanghai Composite Index fell by 0.12 percent, or 3.48 points, to finish at 2,816.69. The Shenzhen ...

Deluxe Family earnings soar in H1

Deluxe Family Co Ltd, a Shanghai-listed housing developer, realized 559 million yuan ($95.33 million) of net profits in the first half of this year, up over 88 times from the same period last year, according to the company's half year report. Deluxe Family issued the half-year ...
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china

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company

industry

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trade

sports

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