Economics & Trade

New scandal hits Bank of China

Bank of China is engaged in a legal battle with its former client Nonferrous BM over a series of arbit

Sixty banks closed in Guangdong

The People's Bank of China has closed 60 illegal banks in Guangdong province in the past 14 months, So

Approval for foreign currency business

Xiamen International Bank has been awarded a licence to provide domestic clients with foreign currency

Swimsuit fabric investment

Asahi Kasei Corp is to become the first Japanese firm to produce spandex in China, reported Nikkei.

New rules for direct selling

The Ministry of Foreign Trade and Economic Co-operation has published new rules for direct selling by

Lighting components R&D centre

Koito Manufacturing of Japan is to invest US$8m in a technical centre in Shanghai that will develop ad

Beijing Jeep racks up heavy losses

Beijing Jeep, the first joint venture vehicle company in China, is running heavy losses and could go b

Profit fall for GM partner

Shenyang Brilliance Automotive's gross profit fell more than 50 per cent last year, partly because a t

Honda claims a third of luxury market

Guangzhou Honda Automobile, the Chinese joint venture of Japanese carmaker Honda Motor, claimed to hav

Delayed go-ahead for petrol stations

The long-delayed petrol station joint ventures between Sinopec and Shell, Exxon Mobil and BP are likel

Offshore oil facility contract

The international engineering and construction group Kvaerner announced that it had been awarded contr

Pilkington plant to make flat-panel glass

Shareholders of Shanghai Yaohua Pilkington Glass have approved a plan to buy technology from its UK pa

Philips opens new facilities

Royal Philips Electronics has formally opened two new facilities in Shanghai to manufacture flat glass

New steel plant in Shanghai

Toong-Rong Iron & Steel of Taiwan plans to build a stainless steel plant in Shanghai, said Shangha

Legend will invest Yn90m

in the venture.

Legend signs new handset venture

China's largest domestic computer maker, Legend, has signed an agreement with Texas Instruments and Ch

Mobile subscriptions pick up again

There were 5.1m new mobile phone subscribers in January, according to Ministry of Information Industry

NEC to shift PC production to China

NEC, Japan's biggest supplier of personal computers, intends to shift the bulk of its PC production to

IBM in pact with Great Wall

IBM and China's Great Wall Technology Group have signed an agreement to produce and distribute IBM har

New chip-making plant in Shanghai

Shanghai Belling has formed a US$340m chip-making venture with Shanghai Zhangjiang Hi-Tech Park Develo

Matsushita expands DVD parts output

Matsushita Electric Industrial is to increase its output of optical parts for DVD players in Dalian by

Haier forms foreign alliances

Haier Group, China's biggest home appliance manufacturer, is setting up an alliance with Taiwan's Samp

McDonald's to remove its golden arches

The US-headquartered McDonald's Corporation has been ordered to remove its signature golden arches fro

7-Eleven to enter Shanghai

7-Eleven, the Texas-headquartered convenience store chain, has decided to extend its China operations

Hospital JV for Shanghai

Shanghai's first foreign-invested hospital is to be set up in Changning district, in the west central

Nippon Steel enters China

Japan's Nippon Steel is entering the Chinese house-building market by licensing its hightension steel

GE invests in new research centre

General Electric is investing at least US$12m in a new research and development centre in Shanghai, Re

Approval for storage system providers

The Ministry of Railways has given two foreign companies the go-ahead to compete for contracts to upgr

MII urges speedy break up

China Telecom has been urged by the Ministry of Information Industry to speed up preparation work for

Unicom plans overseas expansion

China Unicom is preparing to expand into international markets, reported China Daily.

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