Archive for June, 2009
Seven wind power bases to be set up in China by 2020
China plans to build seven wind power bases with a minimum capacity of 10 gigawatts (gW) each by 2020, in a move to dramatically increase the use of the clean energy. The seven bases are Jiuquan in Gansu Province, Hami in ... Read More
Chinalco to buy new shares in Rio Tinto post rights issue
Chinalco has decided to participate in the $15.2-billion rights issue of global miner Rio Tinto. China’s State-owned nonferrous mineral processor has made up its mind to buy new shares this week offered by Rio Tinto to ... Read More
China raises gasoline, diesel prices
China raised gasoline and diesel prices by 600 yuan ($87.8) per ton, starting 12am Tuesday. The increase raised the price for gasoline by about 0.45 yuan per liter, or 8.6 percent, and the price of diesel by about 0.51 yuan per ... Read More
Happy couple breaks racial prejudices
Pang Xiaoyan met her Ugandan husband when he visited her office for a routine business meeting. That was the first time she had ever set eyes on a black man. The only thing she could think of asking him was: “Are you a ... Read More
A Namibian model in China
Three years ago, Vicky Michael was walking back to her dorm at Beijing Foreign Studies University when a strange man walked up to her and told her she could become a model. In fact, he offered her a modeling assignment right ... Read More
Little hope of soon replacing greenback
As the US financial crisis continued to send shock waves across the globe, a new international currency regime gained greater credence as an alternative to the current dollar-dominated global monetary system. At the G20 Summit ... Read More
Public opinion sought on auto replacement subsidy program
Chinese government has begun to seek public opinion on subsidy program for auto replacement, amid a slew of measures to stimulate private spending and curb pollution. According to a joint circular issued by the Ministry of ... Read More
Output in forestry sector hit $195B in ‘08
Production by China’s forestry industry rose 13 percent last year to 1.33 trillion yuan (US$194.7 billion), a senior forestry official told a conference that ended Sunday. Foreign trade of forest products reached US$70 ... Read More
Abhisit woos Chinese businesses
Political unrest comes readily to most people’s mind when they think about the greatest challenge facing Thai Prime Minister Abhisit Vejjajiva, especially after the abrupt cancellation of the East Asia summit in ... Read More
China’s Geely to invest $30 mln in Indonesia
Chinese carmaker Geely Holdings Group plans to invest some 30 million U.S. dollars to set up distribution and marketing networks for its cars sold in Indonesia, the Antara news agency reported here on Friday. Geely Holdings ... Read More
Zambia hands defunct mine to China investor
Zambia on Wednesday handed Luanshya Copper Mine (LCM), which stopped operations early this year due to falling copper prices, to China Non-Ferrous Metal Mining Company (CNMC), ending speculations about the future of the mine, ... Read More
Joint natural gas projects benefits China, Turkmenistan
Visiting Chinese Vice Premier Li Keqiang said in Ashgabaton Wednesday that the joint natural gas projects between China and Turkmenistan serve the fundamental and long-term interest of both peoples. Li made the remarks during a ... Read More
Sinopec to buy Addax for $7.3b
Sinopec Group, China’s second largest oil company, yesterday agreed to buy the Geneva-based oil and gas producer Addax Petroleum Corp for $7.3 billion, in a bid to tap oil reserves in West Africa and the Middle ... Read More