BUSINESS

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Biz Statistics

Shipbuilders double output in Jan-May

Chinese shipbuilders almost doubled production in the first five months of the year with output surging 94 percent year-on-year to 23.65 million deadweight tonnages, the Ministry of Industry and Information Technology (MIIT) said Thursday.

China boosts holdings of US debt

China has boosted its holdings of United States Treasury debt for the second straight month as total foreign holdings of US debt increased.

InfoGraphic
China's FDI grows 27.48% in May

The amount of foreign direct investment (FDI) into China in May rose by 27.48 percent year-on-year to $8.13 billion.

Yuan is overvalued, not undervalued: report

China's currency is probably overvalued, not undervalued as Washington complains, a state-run Chinese newspaper said on Thursday.

Government Procurement

IT disclosure rules raise foreign eyebrows

China's new regulations that require IT vendors engaged in supplying the government to disclose details of encryption technologies have raised eyebrows in some foreign firms.

Labor

Pay hikes good for 'long term'

Wage increases in a number of the country's labor-intensive industries will be good for employment in the long term, a senior official said. Labor woes may spur further automation moves at home

Realty

Roach: Housing demand still strong in China

The property boom in China isn't a bubble because it is supported by "solid" demand for residential housing, according to Stephen Roach, chairman of Morgan Stanley Asia Ltd. Pricey property in Shenzhen keeps skilled workers away

Economy

CICC: China may see 'severe' job losses next year

China may see "severe" employment losses next year as millions of temporary jobs end with the completion of projects under the government's 4 trillion yuan ($585 billion) stimulus package, according to China International Capital Corp.

Pricey property keeps skills away

Analysts warned that high housing prices in Shenzhen would discourage highly skilled staff from working in Shenzhen.

Money Markets Banking Personal Finance

HSBC eyes China growth, 2010 IPO unlikely

HSBC Holdings will grow in profit and size in China as the powerhouse economy further opens up its capital markets and fuels growth, the group's chairman told Reuters in an interview on Wednesday.

ABC to launch Shanghai IPO this week

Agricultural Bank of China (ABC) seeking to raise more than $23 billion in what would be the world's biggest initial public offering, said it will launch the Shanghai portion of its IPO this week.

Energy

Energy usage set to tighten to curb excess

Authorities will restrict energy supply in areas with excessive increases in energy usage and high energy-consuming industries, said a high-ranking official with the National Development and Reform Commission (NDRC), the country's top economic planning body.

AES to buy Jianghe Rural stake

US power producer AES Corp (AES) has agreed to pay 333.2 million yuan ($48.8 million) to buy a stake in a Chinese hydropower company to expand its portfolio in the world's fastest growing energy market.

Technology

IT disclosure regulations raise foreign eyebrows

China's new regulations that require IT vendors engaged in supplying the government to disclose details of encryption technologies have raised eyebrows in some foreign firms.

Telekom Malaysia to roll out high speed broadband network

ZTE Corporation (ZTE), a China- based leading global provider of telecommunications equipment and network solutions, announced here on Wednesday that it has made progress in collaborating with Telekom Malaysia to participate as one of the major suppliers to construct a national high speed broadband (HSBB) network in Malaysia.

Companies Domestic Foreign JV

KFC agrees to raise workers' pay

Representatives of US fast-food chain KFC in northeast China's Shenyang city Thursday signed the company's first collective labor contract on the Chinese mainland, agreeing to raise workers' wages and meeting the demands of a local trade union.

Two Chinese dairy producers among world's top 20

Two Chinese dairy producers, Mengniu and Yili, entered the world's top-20 dairy ranking last year, according to an annual report released on Wednesday.

World Business

Russia may diversify holdings on dollar, euro fluctuations

Russia may add the Australian and Canadian dollars to its international reserves for the first time after fluctuations in the US dollar and euro.

Overseas IPOs to let investors tap into Mongolian resources

Mongolia's plan to privatize its state-owned assets will allow international investors access to some of the world's largest untapped mineral resources through initial public share sales, most likely in Hong Kong.

Cars

Technology gives drivers green light

By the end of 2011, all drivers in Beijing will be able to replace their environmental passes every six years instead of annually, thanks to Radio-frequency identification (RFID) technology.

China extends 'old car for new' subsidy to Dec 31

China's Ministry of Commerce (MOC) said Sunday it will extend the auto replacement subsidy from May 31 to Dec 31.

Opinion

Rising local debt not a Damocles sword

The chances of a Greek-style debt crisis unfolding in China appears remote in spite of the burgeoning local debt, but risks from the surge will test the nation's financial health over the next few years, experts said on Wednesday.

Major Markets
Name Value Change Time
Shanghai 2,560.24 -0.38% Thur
Shenzhen 10,162.36 -0.75% Thur
HSI 20,098.65 +0.18% Thur
NIKKEI 9,999.40 -0.67% Thur
Dow 10,409.46 +0.05% Wed
Nasdaq 2,305.93 +0.00% Wed