Date
27 February 2020

Business

  • POLICY WATCH: Uncertainties at China’s SNG coalface

    - Oct 10, 2013 6:29am
    China’s fresh push for coal-powered synthetic natural gas (SNG) plants in Xinjiang may lead to major pollution and water consumption, outcomes that clearly run counter to Beijing’s pledge to shift to a greener growth model. The...
  • Huajing Power, Ganneng cut on-grid power prices, paper says

    Oct 10, 2013 6:26am
    SDIC Huajing Power Holdings Co. Ltd. (600886.CN) has cut on-grid thermal power prices by between 1 fen and 2.5 fen per kilowatt-hour effective Sept. 25, it said in a regulatory filing Thursday. Meanwhile, Jiangxi Ganneng Co. Ltd. (000899.CN)...
  • China UnionPay’s diminishing allure

    Oct 10, 2013 6:25am
    By most accounts, China UnionPay should be rock solid. With 182 billion yuan (US$29.8 billion) in interbank transactions in the first seven months alone, it is a money-making machine. Throw in its high-powered, cash-laden backers and...
  • CIRC to raise investment cap on stocks, real estate, paper says

    Oct 10, 2013 6:24am
    The China Insurance Regulatory Commission is planning to raise the cap on investment in equities and real estate to 30 percent of insurers’ assets, Beijing Business Today reported Thursday, citing a draft consultation document. At present, outstanding...
  • BYD gets burst from e-taxi orders

    Oct 9, 2013 4:22pm
    Electric-car maker BYD Co. Ltd (01211.HK) and Geely Automobile Holdings (00175.HK) took opposite turns in Wednesday’s trading session. BYD headed up more than 1.1 percent on news of orders from Taiwan while Geely was down 3.4...
  • Over 80% of smartphones unprotected, paper says

    Oct 9, 2013 2:12pm
    More than 80 percent of smartphones are not protected from malware and attacks, Shanghai Daily reported Wednesday, citing US-based Juniper Research. Android phone users in China are most often attacked because of an explosion of mobile malware...
  • China targets 400 bln yuan sat nav industry by 2020, govt says

    Oct 9, 2013 1:13pm
    China aims to boost its satellite navigation industry into a 400 billion yuan-plus (US$65.4 billion) sector by 2020, according to a State Council statement posted on the central government’s website on Wednesday. To help the homegrown...
  • China Life-AMP fund management JV gets nod, paper says

    Oct 9, 2013 12:34pm
    China Life AMP Asset Management, a fund management joint venture between China Life Asset Management Co. Ltd. and Australia-based AMP Capital Investors, has received approval from the China Securities Regulatory Commission, National Business Daily reported Wednesday. It...
  • Shadow banking worth 20.5 trn yuan at end-2012, paper says

    Oct 9, 2013 11:53am
    The Chinese Academy of Social Sciences (CASS) has called for the regulatory authorities to improve controls on shadow banking in China, saying that the size of the sector may have grown to as much as 20.5...
  • There’s a way for Volkswagen to boost its stake in China JV

    Oct 9, 2013 11:35am
    Amid the robust business in China, German auto giant Volkswagen (VW) is renewing its cooperation contract with Chinese state-owned carmaker First Automobile Works (FAW) three years ahead of its expiry in 2016. Not only that, it...
  • Shenhua Energy cancels favorable pricing, paper says

    Oct 9, 2013 11:15am
    China Shenhua Energy Co. Ltd. (01088.HK, 601088.CN) has stopped using the lowest monthly coal price in its pricing mechanism, National Business Daily reported Wednesday. The move is tantamount to a price increase, market watchers were quoted as...
  • Longyuan Power September output up 29.71% on year, filing says

    Oct 9, 2013 10:52am
    China Longyuan Power Group Corp. Ltd. (00916.HK) generated 2.72 million megawatt-hours  of power in September, an increase of 29.71 percent from a year earlier, it said in a regulatory filing Tuesday. Wind power generation was up...
  • Foxconn to cut mainland export weighting, paper says

    Oct 9, 2013 10:39am
    Taiwan’s Foxconn Technology Group, a supplier to Apple Inc., will cut the proportion of its exports from the mainland to between 55 percent and 60 percent from 90 percent, United Daily News reported Wednesday, citing a...
  • Goldman Sachs to sell Geely shares for up to HK$2.45 bln, paper

    Oct 9, 2013 10:01am
    Goldman Sachs Group Inc. is raising up to HK$2.45 billion (US$315.97 million) by selling 580 million shares of Geely Automobile Holdings (00175.HK), Ming Pao Daily News reported Wednesday, citing a term sheet. Goldman is selling the...
  • High-end caterers find new recipe under frugal regime

    Oct 9, 2013 9:57am
    Among the businesses affected by President Xi Jinping’s {習近平} frugality campaign, China’s high-end restaurants are among those hardest hit. During the week-long national holiday, many high-end caterers trained their promotional drive at families and social gatherings to make up for...
  • Japan car giants post mainland sales growth, Kyodo says

    Oct 9, 2013 9:44am
    Japanese car giants Toyota Motor Corp., Honda Motor Co. Ltd. and Nissan Motor Co. Ltd. saw their car sales in China rise significantly in September compared with the same period in 2012 despite a persistent Sino-Japanese...
  • SMIC’s eEEPROM bank card chip certified by UnionPay, Sina says

    Oct 9, 2013 9:40am
    Semiconductor Manufacturing International Corp. (SMIC) (00981.HK), the largest chipmaker in China, said Tuesday the bank card chip based on its eEEPROM (electrically erasable programmable read-only memory) platform has been certified by China UnionPay Merchant Services Co....
  • Central bank sets RMB midpoint softer at 6.1430

    Oct 9, 2013 9:36am
    The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1430 on Wednesday, 15 pips weaker than Tuesday’s 6.1415 fixing, according to the China Foreign Exchange Trade System. The renminbi is...
  • BYD gets a good start in Taiwan

    Oct 9, 2013 9:34am
    BYD Co. Ltd. (01211.HK) has received a purchase order for more than 1,500 e6 taxi units from Taiwan, perhaps the biggest order for its pure-electric vehicles outside its home turf of Shenzhen. Due to legal constraints, the...
  • CR Enterprise denies Ng Fung Hong sale plan, paper says

    Oct 9, 2013 9:24am
    China Resources Enterprise Ltd. (00291.HK) has denied it is selling Ng Fung Hong Ltd., a Hong Kong-based supplier of fresh, live and frozen foodstuff, the Hong Kong Economic Times reported Wednesday, citing chairman Chen Long. There...