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The total foreign and domestic currency assets of Chinese financial institutions rose 19 percent year-on-year to 57.7 trillion yuan (8.45 trillion U.S. dollars) in June, the China Banking Regulatory Commission (CBRC) said on Monday. The CBRC also said that combined liabilities rose 18.4 percent from the same period last year to 54.4 trillion yuan. ...
China Telecom Corp., the nation's biggest fixed-line phone company, added a record number of high-speed Internet users last month, helping the company counter a loss in telephone subscribers. China Telecom gained 890,000 broadband customers for a total of 40 million at the end of June, the Beijing-based company said on its Web site on Monday. That was...
PetroChina and Sinopec, the country's two largest oil companies, suffered a combined refining loss of 5.71 billion yuan (837.24 million U.S. dollars) in the first half of 2008 as soaring world crude prices added to their production costs. The loss was 47.9 percent higher than the same period last year, Feng Shiliang, China Petroleum and Chemical Indus...
The World Trade Organization (WTO) has ruled that China's tariff on imported auto parts goes against the organization's rules. This is the first time China has lost a trade dispute in the WTO since joining the organization in 2001. According to WTO regulation, China can still appeal against the verdict. But if it loses, which experts say is the most li...
China will further strengthen management of foreign investment projects and check foreign exchange inflow in a bid to better control it, according to the country's top economic regulator. The move will also safeguard the country's economic safety, protect ecological environment, optimize development and reform mechanism, and prevent industrial monopoli...
China Steel Resources Holding Company will build two steel factories with a combined capacity of3 million tons per annum in Indonesia, an official said here on Friday. The construction of the steel plants will be carried out in two stages within a span of five years with the first plant to be built in Banjarmasin, South Kalimantan. In the first st...
Myanmar will keep the commercial tax for five main importing goods unchanged until 2010, which is at a reduced rate of 10 percent, denying allegations that the tariff will be raised to the original rates, the weekly Voice reported Sunday. The five commodities, namely diesel, fertilizer, gasoline, medicines and computer accessories, have been granted w...
The British economy is heading for recession next year and unemployment could top 2 million by 2010, Ernst & Young said on Sunday. The Ernst & Young Item Club, which is expected to publish its summer forecast on Monday, said that the British economy will struggle to avoid a recession next year, with predicted GDP growth of only 1 percent. Peter Sp...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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