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QINGDAO: China would need 200 billion cubic meters of natural gas in 2015, doubling the 2008 level, Liu Xiaoli, a senior researcher at the energy research institute under the National Development and Reform Commission, predicted Monday. The nation's annual demand for the clean energy will grow to 300 billion cu m by 2020, according to Liu. Between 2000...
HONG KONG: Sinopec, Asia's top oil refiner, will buy a stake in upstream assets in Angola for $2.46 billion and said it wanted more such deals, which could shield it from high oil prices that hit margins in the fourth quarter. Sinopec, China's No 2 oil and gas producer after PetroChina, said its unit in Hong Kong would buy 55 percent of Sonangol Sinopec...
SHANGHAI: China's annual economic growth will reach 12 percent this quarter, a government researcher said in remarks published on Monday, as economists ratchet up growth forecasts following strong industrial output growth last month. Yu Bin, head of macroeconomic research at the State Council Development Research Center, said the Chinese economy would fa...
HANGZHOU: Toyota on Monday promised to compensate Chinese car owners on the latest recalls, the first of its kind in the country. A delegation of Toyota agreed after talking with authorities of east China's Zhejiang province Monday to compensate customers, step up recalling, offer substitute vehicles and return purchase subscription according to Zhejiang...
SHANGHAI - A Chinese court Monday sentenced four employees of mining giant Rio Tinto to jail terms of seven to 14 years on bribery and commercial secrets charges. The court in Shanghai found Australian national Stern Hu and three Chinese co-workers guilty of all charges. It sentenced Hu to 10 years on bribery and stealing commercial secrets charges and ga...
SHANGHAI - Zinc imports by China may slump almost 60 percent this year as domestic production increases, said a CBI China Co analyst. Imports may decline to 278,000 tons from 670,000 tons in 2009, Monica Gao said at a conference in Shenzhen on Thursday. Real demand may be 4.69 million tons, gaining from an estimated 4.25 million tons last year, she said. ...
BEIJING - There are no clear signals of an easing in trade and political tensions in Sino-US relations despite the hope generated by the visits of two Chinese vice-ministers to Washington. Vice-Commerce Minister Zhong Shan said in the US capital on Wednesday that Beijing will reform its currency regime gradually and keep the exchange rate stable. Reject...
BEIJING: The lingering drought in Southwest China has caused heavy forest losses, said the State Forestry Administration (SFA) Thursday. The drought has damaged saplings, held back forestation efforts, led to forest fires and spoiled the habitat for wild animals, said the SFA. The SFA data showed the drought has so far affected 78.83 million mu (about 5...
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