Trade News

Hong Kong stocks close 1.88% higherAug 20, 2009

Hong Kong stocks rose 374.63 points, or 1.88 percent, to close at 20,328.86 on Thursday. Turnover totaled HK$57.23 billion ($7.39 billion), compared with Wednesday's HK$64.41 billion ($8.26 billion). Source: BizChina

China vows to clean up corruption in construction businessAug 20, 2009

China will launch a two-year anti-corruption campaign in construction business, in which money-for-power deals and commercial bribery cases are reportedly increasing. According to a document jointly issued by the general offices of the Communist Party of China (CPC) Central Committee and the State Council on Wednesday, the authorities voiced the resolutio...

No interest rate change likely before April: AnalystAug 20, 2009

China's central bank, the People's Bank of China (PBOC), may not adjust interest rate before April 2010, and further monetary policy shift would mainly focus on the deposit reserve ratio, a senior analyst predicted in an interview with Xinhuanet.com. "The PBOC may adjust the deposit reserve ratio at the beginning of 2010, on condition that China's econ...

Coca-Cola, Pepsi on disputed listAug 20, 2009

Companies in Beijing are questioning why the city government has added them to an environmental watch list. PepsiCo-Beijing, Coca-Cola-Beijing, and Beijing Benz-DaimlerChrysler are among 27 large water and energy-consuming entities included in the list, which was issued on Tuesday by the Beijing Development and Reform Commission, the capital's economic p...

China's stocks rebound on ThursdayAug 20, 2009

China's stocks rose 4.52 percent on Thursday's close. The benchmark Shanghai Composite Index rose 4.52 percent, or 126.00 points, to finish at 2,911.58. The Shenzhen Component Index rose 3.91 percent, or 438.43 points, to end at 11,648.35. Combined turnover expanded only slightly to 191.33 billion yuan ($28.01 billion) from 191.07 billion yuan on the ...

879 listed companies see H1 profits down 18%Aug 20, 2009

China Securities Journal reported today that 879 listed companies on the Shanghai and Shenzhen stock exchanges had posted their first-half results as of Thursday, reporting 114.3 billion yuan ($16.73 billion) in combined profits, down 18 percent from the 140.6 billion yuan recorded a year earlier. In the first half of 2009, revenues of the 879 companies r...

Reader's Digest in China to be 'unaffected' by US bankruptcyAug 19, 2009

The publisher of Reader's Digest on the Chinese mainland said Tuesday the magazine's business in China would not be affected by its US headquarter's financial restructuring. The business in China would maintain steady growth, said Shi Yongqiang, general manager of Reader's Digest (Shanghai) Advertising Co Ltd, the only publisher of Reader's Digest in...

Smelter at center of lead poisoning scandal shut downAug 19, 2009

A smelting plant in northwest China's Shaanxi province was shut down Monday amid public anger over heavy metal discharges that have left at least 851 children ill as of Tuesday. Dongling Lead and Zinc Smelting Co in Fengxiang County in the city of Baoji, had been ordered by environment protection authorities to suspend lead and zinc production on Aug 6, ...

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