China Railway Ministry Reports Q1 Deficit of 3.76Bln Yuan
China’s Ministry of Railways reported a deficit of 3.76 billion yuan in the first quarter of this year on rising material prices.
Shares of Renren Rose 28.64Pct on First Trading Day
Shares of Renren rose 28.64 percent in their U.S. stock market debut Wednesday, closing at 18.01 U.S. dollars from the offering price of 14 U.S. dollars.
China to Launch Variable Annuity Soon: Insurance Regulator
China insurance companies will trial a new product, variable annuity, to enrich the investment-linked product options for policyholders.
PetroChina Q1 Profit Up 14Pct as Gains in Production, Sales Offset Refining Losses
Profits in the first quarter for PetroChina Ltd., the public trade unit of China’s biggest oil and gas company, rose 14 percent from a year earlier, as refining losses are offset by gains in crude oil production and sales.
Yum Eyes a Full-Control over China's Little Sheep
World's largest fast food restaurant company Yum Brands Inc. has made a preliminary offer to buy the remaining stake in the Little Sheep.
Seven Chinese Cities Listed as "High Risk" in Latest Property Stress Tests
Seven Chinese cities, including Beijing, Shanghai, Shenzhen, Guangzhou, Chongqing, Hangzhou and Nanjing are listed as “high risk” in the latest banks’ stress test to assess a possible plunge in property prices.
Gome Launched a New E-Commerce Site
Gome’s new e-commerce website will contribute 10 percent of sales of the group within three years.
China Facing Contagious Oil Supply Strains
Gasoline and diesel supply strains have been spreading to most of China on higher price and growing demand.
China Bank Regulator Orders a New Stress Test on Property Price Fall
China's banking regulator on Tuesday has ordered financial institutions to conduct a new round of stress test as developers may feel pressures over continuing tightening measures in property.
Chinese Social Network Files for U.S. IPO
China’s largest social network, Renren, has filed for a U.S. IPO to raise up to 58.4 billion U.S. dollars, the first of the country’s networking sites aiming to tap the U.S. capital market.
ExxonMobil Enters Agreements with Chinese Oil Giants over LNG Transportation
ExxonMobil will supply 2 million tonnes of LNG from Papua New Guinea annually for China Petroleum and Chemical, or Sinopec, and 2.25 million tonnes of LNG from the Gorgon gas filed in Australia for China National Petroleum Corporation, or PetroChina.
Rising Oil Prices, Policy Restrictions Pull Down China Auto Sale Growth in Q1
New Chinese car sales stood at 4.98 million units in the first three months, marking a sharp decline of 63.7 percent in growth from the same period of last year.
China Should Extend Home Purchase Restrictions: Think Tank
China's tightening measures in property, including higher down payments and stricter home purchasing restrictions, should be translated into a medium and long-termed policy that falls into five to ten years.
Property Sales Dropped Sharply in Beijing on Home Purchase Restrictions
Property sales have dropped sharply in Beijing after the country imposed strict home purchase restrictions this year.
BYD's Last Sprint to Champion Crown
Time for BYD is running short.
Shares of Qihoo Surge 134Pct in NYSE Debut
The shares of Qihoo 360, a popular anti-virus software provider in China, surged 134.45 percent in their debut on the New York Stock Exchange on Wednesday.
Chinese Banks Report Net Profits
Net profits for Agricultural Bank of China, Industrial and Commercial Bank of China, China Construction Bank, and Shanghai Pudong Development Bank grew 46 percent, 28 percent, 26.3 percent, and 45.10 percent respectively in 2010.
China Searching Giant Faces Boycott from Chinese Writers on Copyright
Chinese searching giant Baidu has come under fire recently, with a group of authors accusing its document sharing website, Baidu Wenke of infringing copyrights of the unlicensed copies of their work uploaded by Baidu users.
China to Raise Rare Earths Tax From April 1
The resource tax rate for mined light rare earths will be 60 yuan per ton, while medium and heavy rare earths will be taxed at 30 yuan a ton.
China Telecom Plans to Purchase Wireless Network From Parent
China Telecom Corp, the country’s largest fixed-line carrier, plans to buy the CDMA mobile phone network for its parent company funded with debt.
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