Media
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Major Chinese automaker Dongfeng Motor Group, sold 1.05 million passenger cars in 2009, up 45.6 percent from a year earlier, an industry source said on Friday. Passenger car sales in December jumped 64.4 percent to 112,137 units, said the source. Dongfeng Motor makes cars in partnership with Honda Motor, Nissan Motor and PSA Peugeot-Citroen. ...
China XD Electric Co, the nation's biggest maker of electricity transmission and distribution equipment, plans to raise about 7.72 billion yuan ($1.13 billion) through an initial public offering (IPO) in Shanghai. The Xi'an-based company will sell as many as 1.307 billion shares, or about 30 percent of its total shares, according to a filing to the Shan...
West China's Tarim Oilfield registered a record 497 million tons of 3P (proved, probable and possible) reserves of oil and gas in 2009, the company has announced. Last year was the fourth consecutive year that the field in Xinjiang Uygur autonomous region, China's largest natural gas supplier, developed more than 400 million tons of 3P reserves, said Li...
China's central bank surprised the market yesterday by raising the auction yield of its three-month bills for the first time since mid-August, and the significant step-up in liquidity tightening sent offshore non-deliverable interest rate swaps (NDIRS) sharply higher. The People's Bank of China (PBOC) is also set to drain a net 137 billion yuan ($20.07 ...
Listed property developers have been cornering huge plots and often leaving them undeveloped, further compounding the land shortage in Shanghai, said a new report. Over 330 plots earmarked for residential development are lying idle due to various reasons, said the report released by E-House (China) Holdings Ltd, a leading property service provider. Prom...
China's online-video industry may require a facelift as domestic technology giants and government-backed media groups enter the fragmented but potentially lucrative market. Market entry by these mammoths casts a dark cloud over the future of domestic Youtube-like websites, such as Youku.com and Tudou.com, which are funded heavily by foreign venture-capit...
Appointment system blamed for failure to check abuse of power The country's top anti-graft watchdog pledged yesterday to target corrupt executives of State-owned enterprises (SOEs) after dozens were netted last year. "We will push ahead with investigations and try to curb corruption in SOEs in restructuring, mergers and acquisitions, property transacti...
A 1,833-km pipeline carrying natural gas from Central Asia to Urumqi, capital of northwest China's Xinjiang, will take another 10 days to provide a stable supply, said a city official Wednesday. "The pipeline's pressure is still low, and we are unable to increase the supply," said Wu Jianmin, of the municipal natural gas office. As China's first larg...
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