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Beijing is hoping twice as many people will use the through lane on expressways to bypass toll gates this year, saving time for drivers and increasing efficiency for the company that manages the roads. By February, 154,000 Beijing drivers had signed up for the ETC (Electronic Toll Collection) system, fitting tags to their vehicles that allow them to pay m...
China has started "preliminary work" on the second phase of the nation's emergency oil reserves in Guangdong to help bolster energy security and meet demand, the head of the province's economic planning agency said. Construction of storage bases in the cities of Zhanjiang and Huizhou will begin "as soon as possible," Li Miaojuan, director of Guangdong'...
China's crude oil output will rise by 1-2 percent this year, Yu Baocai, vice president of China National Petroleum Corp (CNPC), said on Sunday. The forecast is slightly below a previous estimate of 2 percent given in a CNPC research report but above the 0.5 percent growth target issued by China's planning ministry, the National Development and Reform Co...
BEIJING - China plans this year to buy 218 aircraft, including jumbo jets and regional planes, to meet surging demand, the head of the country's civil aviation agency said on Sunday. China would expect 700 million passenger trips a year by 2020, and the number is likely to double by 2030, said Li Jiaxiang, director of the Civil Aviation Administration of...
BEIJING: This year's iron ore benchmark talks will not end in agreement any time soon because Chinese steel mills will not accept a price that is higher than what the processed products can be sold for, Deng Qilin, the president of Wuhan Iron & Steel Group, said yesterday. Deng, who is also the chairman of the China Iron & Steel Association (CISA...
BEIJING - The China-Russia oil pipeline is likely to be completed by the end of this year and the project will enter into operation in 2011, Chinese Foreign Minister Yang Jiechi said here Sunday. Yang made the remarks at the press conference held Sunday on the sidelines of the annual session of the National People's Congress, the country's top legislatu...
China expects its economy to grow around 8 percent in 2010 from a year earlier, said Premier Wen Jiabao at the annual parliament session Friday, expecting a "crucial but complicated" year for economic recovery. Setting the 8-percent target mainly "aims at ensuring the quality of economic growth, focusing on transformation of economic growth pattern and ad...
China will accelerate the reform of monopoly industries to facilitate fair competition among private and state-owned businesses, Premier Wen Jiabao said in a government work report delivered at the parliament's annual session Friday. "We will effectively expand market access, and actively introduce competitive mechanisms," Wen said at the opening of the ...
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