China's Trade Information

Training center

noreply@blogger.com (hongcgi) — Tue, 12 May 2009 10:33:00 +0000

FACING heated market competition and expanding dealer network, BMW AG yesterday opened its biggest training center in Asia. The BMW Training Center Shanghai has 100 million yuan (US$14.6 million)...

rline group confirms order cut

noreply@blogger.com (hongcgi) — Mon, 11 May 2009 13:39:00 +0000

CHINA'S Hainan Airlines Group (HNA) confirmed yesterday that it halved its order of ERJ-145 jets from the Harbin Embraer Aircraft Industry Company to 25 planes. Zheng Yang, an official with HNA...

New boss at PBOC's Shanghai operation

noreply@blogger.com (hongcgi) — Mon, 11 May 2009 13:36:00 +0000

ZHANG Xin has been named the new deputy director of the Shanghai headquarters of the People's Bank of China, the central bank said yesterday. He will also head the bank's Shanghai branch. He was...

Wang sets out the road to recovery

noreply@blogger.com (hongcgi) — Mon, 11 May 2009 13:32:00 +0000

CHINESE Vice Premier Wang Qishan, in an article in yesterday's Financial Times, says the economy will get worse before it gets better. The vice premier said financial stability would be aided by...

Joint Investment For Sichuan Car Plant

noreply@blogger.com (hongcgi) — Mon, 11 May 2009 13:29:00 +0000

CHINA First Automobile Works and Europe's auto giant Volkswagen AG said yesterday that they would jointly invest 5 billion yuan (US$733 million) to build an auto plant in Chengdu, capital of...

Key index set for correction

noreply@blogger.com (hongcgi) — Mon, 11 May 2009 13:18:00 +0000

THE Shanghai stock market is likely to correct this week and post a record daily decline as investors take profit, analysts said. ''The local benchmark index is expected to experience a V-shape...

Gain seen in short term

noreply@blogger.com (hongcgi) — Mon, 11 May 2009 13:16:00 +0000

THE yuan may gain slightly against the United States dollar in the short term but the currency should remain stable in the long term as the Chinese government pledges to continue to maintain an...

Innovation gets US$3b boost

noreply@blogger.com (hongcgi) — Fri, 08 May 2009 12:44:00 +0000

THE Chinese government will spend 20 billion yuan (US$2.93 billion) this year on technological innovation in a range of sectors. The money will mainly be used in the form of subsidized loans, and...

Auto Sales Said To Reach Record

noreply@blogger.com (hongcgi) — Fri, 08 May 2009 12:38:00 +0000

CHINA'S automobile sales probably reached a record high of 1.15 million units last month as the government's stimulus plans began to pay off, estimates from the China Association of Automobile...

Electronics, IT Products Exports Tumble 24.6%

noreply@blogger.com (hongcgi) — Fri, 08 May 2009 12:37:00 +0000

EXPORTS of electronics and information technology products, which account for one-third of total exports on the Chinese mainland, continued to drop in March amid the tough economic environment, the...

Export orders dip

noreply@blogger.com (hongcgi) — Fri, 08 May 2009 12:35:00 +0000

CHINA'S leading trade fair, known as Canton Fair, ended yesterday with export orders down almost 17 percent, a sign of troubles ahead for exporters amid the financial crisis, organizers said. The...

Vanke's sales jump

noreply@blogger.com (hongcgi) — Fri, 08 May 2009 12:35:00 +0000

CHINA Vanke Corp, the country's largest publicly listed developer, said sales jumped 22 percent from a year earlier to 5.27 billion yuan (US$771 million) last month. The company sold a total of...

Ceiling on output of mineral resources

noreply@blogger.com (hongcgi) — Fri, 08 May 2009 12:34:00 +0000

CHINA said yesterday it would impose a ceiling on the output of mineral resources like tungsten, antimony and rare earth in 2009 amid shrinking demand. The move is aimed to protect China's reserves...

Review into investments by SOEs

noreply@blogger.com (hongcgi) — Thu, 07 May 2009 10:51:00 +0000

CHINA'S state-owned asset regulator will launch an investigation into investments made by centrally administered state-owned enterprises in the financial sector in a bid to help them avoid risks. A...

Moving on

noreply@blogger.com (hongcgi) — Wed, 06 May 2009 16:02:00 +0000

OZ Minerals Ltd yesterday said CEO Andrew Michelmore will resign and join China Minmetals as part of the Chinese firm's purchase of most of the Australian miner. The A$1.2 billion (US$883 million)...

Stake sale

noreply@blogger.com (hongcgi) — Wed, 06 May 2009 16:01:00 +0000

ZOTYE Auto, a Chinese maker of sport-utility vehicles, is raising about 720 million yuan (US$106 million) by selling a 20 to 30-percent stake to a private equity fund-led consortium, aiming for a...

Yuan prospects

noreply@blogger.com (hongcgi) — Wed, 06 May 2009 16:00:00 +0000

A SENIOR South Korean economist said in a report yesterday that the yuan may emerge as a settlement currency in Asia. Park Bun-soon, a senior fellow at the Samsung Economic Research Institute, said...

ADB says Chinese economy on mend

noreply@blogger.com (hongcgi) — Wed, 06 May 2009 16:00:00 +0000

THE Chinese economy may have already bottomed out and be in the recovery phase, said Haruhiko Kuroda, president of the Asian Development Bank in Bali yesterday. Kuroda made the remark at a press...

Bank card use rises

noreply@blogger.com (hongcgi) — Tue, 05 May 2009 11:49:00 +0000

CHINA UnionPay Co yesterday said onshore bank card-based transactions rose 46 percent during the three-day May Day holiday nationwide as consumers spent. Offshore bank card transactions also rose...

Less spending

noreply@blogger.com (hongcgi) — Tue, 05 May 2009 11:48:00 +0000

HONG Kong's retail sales weakened in March with the total value dropping 7.7 percent from a year earlier to HK$20.8 billion (US$2.7 billion) and volume down 9.3 percent, the Census and Statistics...

Deal for US$3b

noreply@blogger.com (hongcgi) — Tue, 05 May 2009 11:48:00 +0000

THE Export-Import Bank of China yesterday inked an agreement with the Asian Development Bank to jointly prepare at least US$3 billion for projects in developing Asia, especially in terms of...

GDP likely to expand 7% in Q2

noreply@blogger.com (hongcgi) — Tue, 05 May 2009 11:48:00 +0000

ROBUST investment backed by stimulus spending will likely help China's economy to expand 7 percent in the second quarter, showing the economy may be rebounding from the financial crisis, a...

Average wages record a slow climb

noreply@blogger.com (hongcgi) — Mon, 04 May 2009 13:18:00 +0000

CHINA reported a slowdown in the growth of average wages for urban employees in the first quarter of this year, the National Bureau of Statistics said yesterday. Urban employees' pay averaged 7,399...

Merger boosts telco's net profit

noreply@blogger.com (hongcgi) — Mon, 04 May 2009 13:18:00 +0000

CHINA Unicom Ltd, one of China's three major phone companies, yesterday said it earned 3.6 billion yuan (US$525 million) in the first quarter this year following its merger with rival China...

UnionPay in NY

noreply@blogger.com (hongcgi) — Mon, 04 May 2009 13:05:00 +0000

CHINA UnionPay Co has set up a branch in New York, its first branch in North America, the company said yesterday. The New York branch is UnionPay's seventh overseas branch. The country's sole bank...