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Chinese equities edged up Wednesday, rising for the first time in four consecutive trading days, driven by non-ferrous metals and oil company stocks. The benchmark Shanghai Composite Index grew 24.89 points, or 0.9 percent, to end at 2,779.43. The Shenzhen Component Index gained 137.57 points, or 1.24 percent to close at 11,206.85. Combined turnover s...
China will lower gasoline and diesel prices both by 190 yuan ($27.8) a ton from Wednesday, the National Development and Reform Commission announced Tuesday. The benchmark price of gasoline will be 6,620 yuan a ton, and for diesel 5,880 yuan a ton, according to the NDRC. The retail price of gasoline will drop by 0.14 yuan per liter and that of diesel wil...
China Unicom, the No 2 mobile phone service operator in the country by number of subscribers, said on Monday that it would start selling the iPhone in China from next month. Experts said the high package fees that China Unicom requires may thwart the success of Apple Inc's popular smart phone in the world's largest mobile population. A retail price of...
China National Offshore Oil Corp (CNOOC), the nation's third largest oil and gas producer, is in talks with Nigeria to acquire large stakes in some of the world's richest oil blocks, the Financial Times reported. CNOOC, the nation's largest offshore crude producer, is bidding for 6 billion barrels of oil, equivalent to one in six barrels of proven rese...
Wang Chuanfu, the 43-year-old founder and chairman of Chinese electric car and battery maker BYD Co, tops the annual Hurun Rich List of the nation's wealthiest following an investment in his company by Warren Buffett that caused a five-fold surge in the share price. With assets of $5.1 billion, he jumped 102 places from last year's ranking. "Paper Que...
China pledged yesterday to stick with its "moderately loose" monetary policy to consolidate an economic recovery that is not yet solid and that is haunted by weak external demand. The People's Bank of China, the nation's central bank, said at its quarterly monetary policy meeting that it will continue to ensure reasonable growth in loans and direct more...
Construction began Tuesday on a soda ash project with an investment of $1.14 billion from Taiwan Glass Group in Huai'an, the Chinese mainland's Jiangsu province. The group aims to ensure supplies of soda ash, a main raw material for glass, by exploiting rich resources in Huai'an, said an official with the Huai'an economic development zone, where the p...
Chinese equities continued the downward trend for the third consecutive trading day and lost 0.33 percent in light trade Tuesday, amid investors' wait-and-see attitude. The Shanghai Composite Index on the Shanghai Stock Exchange closed at 2,754.54 points Tuesday, down 8.99 points, or 0.33 percent, from the previous close. The Shenzhen Component Index o...
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