Trade News

Companies now required to monitor workplace hazardsAug 14, 2009

Beginning next month, Chinese businesses and factories that violate occupational hazard regulations will be shut down and face a maximum penalty of 300,000 yuan ($44,000). "If an employee's health has been affected by dust, toxic substances and other harmful factors during occupational activities, those harms can be defined as occupational hazards," acco...

Official urges early exit of high-emission vehiclesAug 14, 2009

A Chinese environmental official Thursday urged hastening the national elimination of high-emission vehicles to help curb urban air pollution. "The automobile emissions have become main sources of air pollution in Chinese large and medium-sized cities," said Li Xinmin, an official with the Ministry of Environmental Protection. "High-emission cars and tr...

Rural auto subsidy extendedAug 14, 2009

China will continue its policy of subsidizing farmers' purchase of automobiles in a bid to spur vehicle sales, as part of the government's concerted efforts to stimulate domestic demand, a government official said yesterday. Li Yizhong   The policy, put in place earlier this year, has proven to be successful and will be extended, Li Yizhong, mini...

China discovers new offshore oilfieldAug 14, 2009

China National Offshore Oil Company Limited (CNOOC Ltd) announced Thursday that the company has discovered a new oilfield in north China's Bohai Bay. Drill stem tests showed that the new oil field could produce a daily average of 1,700 barrels of oil and 400,000 cubic feet of natural gas via a 11.11-mm choke, according to a statement released on the comp...

QFIIs hike investment in stocksAug 14, 2009

The booming Chinese stock market and the quick recovery of the domestic economy have propelled qualified foreign institutional investors (QFII) to book overweight positions in A shares. Overseas institutions held 338 million shares in 60 listed firms worth 36.6 billion yuan ($5.36 billion) at the end of the first half, according to figures from financial ...

Mainland firms making beeline to HK bourseAug 14, 2009

More than 10 mainland enterprises are expected to float their businesses in an initial public offering (IPO) in Hong Kong after the economic recovery revived stock trading and boosted companies' capital raising activities. According to Reuters, as many as 16 companies are going to seek stock listings in Hong Kong, including large mainland-based enterpris...

China's Inspur takes over Qimonda R&D centerAug 13, 2009

Inspur Group, the founder of China's computer server industry, said Wednesday it had acquired the research and development (R&D) center of insolvent German chipmaker Qimonda in Xi'an, home of the famous terracotta warriors. The acquisition cost Inspur 30 million yuan ($4.39 million). In return, Inspur will take charge of the center which will also h...

China pushes consolidation in 10 industriesAug 13, 2009

The Chinese government is working to try and consolidate companies in ten key industries in order to increase their competitiveness, Li Yizhong, minister of Industry and Information Technology said at a press conference today. The ten industries are steel, automotive, shipbuilding, chemical, light industry, textiles, nonferrous metals, equipment manufactu...

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