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The Association of China Refractories Industry will make a defense plea over the US anti-dumping investigations on Chinese-imported magnesia carbon bricks (a heat-resistant material used in steel making), said Xu Dianli, vice chairman and secretary-general of the association. The case was brought forward by Resco Products Inc, a US manufacturer and suppli...
Shenzhen Development Bank (SDB), the nation's first and only foreign investor-controlled lender, is seeking more branches across China after receiving a capital injection from the country's second largest insurer, Ping An, said Frank Newman, chairman and CEO of the bank, in an exclusive interview with China Daily. "Opening new branches is our number one...
One of the "big three" iron ore producers has cut China's national ore negotiating body out of the equation, electing to deal directly with steel makers that want to buy its products. The move will heap more pressure on the China Iron and Steel Association (CISA), which had hoped to reach a deal in June. Now, there is speculation that the overdue deal ...
Nearly 30 billionaires formerly on the list of China's richest people have been charged with bribery or are at the center of a police investigation, a new report shows. Researchers for the Hurun Report, an annual list of China's rich and powerful, yesterday revealed that 19 of the 1,330 business tycoons listed in the past 10 years are either in jail or ...
Bank of China (BOC), the nation's third largest lender by assets, expects to maintain a steady credit expansion this year, but the lending pace is likely to slow in the second half, a senior bank official said yesterday. "Market demand for loans will be lower in the second half, and the bank's loan growth for this year will outperform the industry avera...
East Star Airlines, the debt-laden private airline based in central China's Wuhan city, officially went bankrupt after its restructuring application was rejected Thursday. The Intermediate People's Court in Wuhan City said the plan submitted by the East Star Group and ChinaEquity was unfeasible and failed to meet the conditions for a legal restructuring...
Groundbreaking began Wednesday for an airport close to Mount Jiuhua, one of the four sacred mountains of Chinese Buddhism, local authorities said Thursday. China will invest more than 600 million yuan ($87.8 million) in the airport based in the eastern Anhui province. It started construction Wednesday and was expected to be completed by the end of 2011, s...
China's top economic planner said Thursday the country would not see overall, long-term big prices rise as the overall supply matched the nation's demand. The National Development and Reform Commission (NDRC) said in a statement that a "surge in credit and continuous price rises of certain products and property resulted in rising inflation expectations ...
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