Noticias de China

Groupe Danone SA, the world's biggest yogurt maker, announced that it will sell its 23 percent of stake in China Huiyuan Juice Group to private equity firm SAIF Partners for 200 million Euros. Huiyuan confirmed the news in an announcement submitted to the Hong Kong Stock Exchange yesterday. The deal was priced at 6 Hong Kong dollars per share, higher than Huiyuan's closing price of 5.42 yuan per share on July 28. Danone said that the deal is in line with its strategy in the Chinese mark ...

The Aluminum Corporation of China, Ltd. (Chalco) signed an agreement with the Anglo-Australian mining giant Rio Tinto on July 29 to jointly carry out an iron ore project in Guinea, a country in western Africa, today's Shanghai Securities News reported. Rio Tinto and Chalco's parent Chinalco signed a non-binding memorandum of understanding in March to co-develop a world-class iron ore mine owned by Rio Tinto in Guinea's Simandou region. Under the agreement, a joint venture will be set up ...

Brazilian President Luiz Inacio Lula da Silva said on Wednesday he will promote negotiations on a free trade agreement between the Central American Integration System (SICA) and Mercosur, where he will take the interim presidency. "A comprehensive trading agreement between Mercosur and the SICA would be essential as Nicaraguan exports to Brazil need to be boosted in order to balance the exchange," said Lula. Mercosur, or the Common Market of the South, is a bloc composed of Brazil, Argenti ...

China had shown its commitment to developing clean energy through its strong support for an international alternative energy program, the head of the program's China office said Wednesday. The program, known as the International Thermonuclear Experimental Reactor or ITER, aims to emulate the power of the sun to provide limitless clean energy, Luo Delong told Xinhua during a telephone interview. "China's active participation in the international nuclear fusion project reflects the country's ...

Brazil's Industry Confidence Index fell 1.5 percent to 113.6 points in July, the second straight decline, the Getulio Vargas Foundation (FGV) announced Wednesday. The figures indicate a deceleration in the industrial sector's growth, according to the FGV. However, compared to the same period in 2009, the indicator was up 18.2 percent. Besides, industry confidence is now at roughly the same levels registered in January and in July 2008, before the escalation of the international financial c ...

Brazil's Industry Confidence Index fell 1.5 percent to 113.6 points in July, the second straight decline, the Getulio Vargas Foundation (FGV) announced Wednesday. The figures indicate a deceleration in the industrial sector's growth, according to the FGV. However, compared to the same period in 2009, the indicator was up 18.2 percent. Besides, industry confidence is now at roughly the same levels registered in January and in July 2008, before the escalation of the international financial c ...

China initiated a project Thursday to integrate the electricity network in the Tibet Autonomous Region with that in the neighboring northwestern Qinghai Province, a power official told Xinhua. The project aims to ensure enough power supply by 2012 for Tibet, which suffers from power shortages in cold seasons, said Liu Kejian, chairman of the Tibet Electric Power Company Ltd. &$&$Source: Xinhua&$&$ ...

The Brazilian government posted a primary surplus of 24.8 billion reais (14 billion U.S. dollars) in the first half of 2010, up 34 percent from the same period last year, the Treasury Department said Wednesday. The amount is equivalent to 1.46 percent of the Brazilian gross domestic product (GDP), compared to a surplus of 1.24 percent of GDP in the same period of 2009. The Treasury Department accumulated a primary surplus of 47.7 billion reais in the first half of 2010, a year-on-year incr ...

The Brazilian government posted a primary surplus of 24.8 billion reais (14 billion U.S. dollars) in the first half of 2010, up 34 percent from the same period last year, the Treasury Department said Wednesday. The amount is equivalent to 1.46 percent of the Brazilian gross domestic product (GDP), compared to a surplus of 1.24 percent of GDP in the same period of 2009. The Treasury Department accumulated a primary surplus of 47.7 billion reais in the first half of 2010, a year-on-year incr ...

China's Agricultural Bank (ABC) announced Thursday the over-allotment option for its global offering has been exercised in full by the joint bookrunners on behalf of the international underwriters on the day. The move will bring about 11.96 billion HK dollars (about 1.54 billion U.S. dollars) for the company, according to a statement released by ABC via the Hong Kong Stock Exchange. The statement says the bank will issue a total of 3,811,764,000 H shares, represents approximately 15 percen ...

New Zealand recorded its first trade surplus in June in eight years, Statistics New Zealand said on Thursday. Official figures showed a surplus of 276 million NZ dollars ( 199.5 million U.S. dollars) in the month, as exports rose and imports declined. Exports jumped 17 percent to 3.8 billion NZ dollars , led by milk powder, butter, and cheese, and logs and wood. Imports fell 2 percent to 3.5 billion NZ dollars. On an annual basis, the trade balance recorded a surplus of 639 million N ...

New Zealand recorded its first trade surplus in June in eight years, Statistics New Zealand said on Thursday. Official figures showed a surplus of 276 million NZ dollars ( 199.5 million U.S. dollars) in the month, as exports rose and imports declined. Exports jumped 17 percent to 3.8 billion NZ dollars , led by milk powder, butter, and cheese, and logs and wood. Imports fell 2 percent to 3.5 billion NZ dollars. On an annual basis, the trade balance recorded a surplus of 639 million N ...

Teck Resources Limited, the Canadian base metal producer which received a 1.5-billion- U.S.- dollar-investment from China's Sovereign Wealth Fund last year, reported a 54 percent drop in second-quarter profit Wednesday in comparison to the period a year ago. In a conference call with media, the Vancouver-based producer of coal, zinc and copper, among others, reported a net income of 260 million Canadian dollars (about 268 million U.S. dollars), or 44 Canadian cents a share, down from 570 mill ...

Teck Resources Limited, the Canadian base metal producer which received a 1.5-billion- U.S.- dollar-investment from China's Sovereign Wealth Fund last year, reported a 54 percent drop in second-quarter profit Wednesday in comparison to the period a year ago. In a conference call with media, the Vancouver-based producer of coal, zinc and copper, among others, reported a net income of 260 million Canadian dollars (about 268 million U.S. dollars), or 44 Canadian cents a share, down from 570 mill ...

Senior resident representative of the International Monetary Fund (IMF) to China, Il Houng Lee, has said the Chinese economy was fundamentally "still very robust" and the IMF has maintained its projection of China's economic growth in 2010 at 10.5 percent. In an interview with Xinhua in Hong Kong, where Lee was delivering a speech on economic outlook on Asia and China for 2010 at the invitation of the Hong Kong General Chamber of Commerce, Lee said China's economic slowdown in the second quar ...

It is neither reasonable nor fair to hold China's high savings rate as the main cause of the global financial crisis, said Zhang Jianhua, an official with the People's Bank of China, the country's central bank, responding to some theories in the West. Some Western economists believe that emerging economies, including China, have excessive savings, and lend too much to rich economies at a low interest rate. This lending then leads to over-consumption and encourages investors to buy assets with ...

Spring Airlines, a Shanghai-based private budget airline, launched its first international flight to Japan Wednesday, marking the low-cost airline's entry into international market. An Airbus A320, a charter plane carrying passengers from travel agencies, departed from the Shanghai Pudong International Airport. It arrived Wednesday noon at the Ibaraki Airport, about 80 km northeast of Tokyo. The airline has scheduled three round-trip charter flights between Shanghai and Ibaraki each week, ...

The National Development and Reform Commission (NDRC), China's top economic planner, Wednesday ordered local authorities to take actions to prevent hoarding and price speculation in grain markets and work to maintain market order. The NDRC accused some businesses of blindly buying large amounts of grain, then bidding up grain prices following adverse weather in some regions. "This leads to farmers' reluctance to sell and enterprises hoarding," it said in a statement on its website. Such mo ...

The online gaming industry saw a small drop in the second quarter this year, with a total revenue of 7.78 billion yuan ($ 1.14 billion), falling by 0.5 percent compared with the previous quarter, according to a report released by Analysys International Wednesday. In the first quarter this year, the growth rate of the once booming online gaming industry has been reduced to the lowest point, 4.1 percent. In the second quarter, except a few game makers like Tencent Game, Changyou and Juren, most ...

Several Chinese commercial banks raised their cross-bank same-city automatic teller machine (ATM) withdrawal fees earlier this month, triggering opposition among bankcard holders. China's big-four banks, including the Industrial and Commercial Bank of China, lifted the cross-bank same-city ATM withdrawal fee from 2 yuan to 4 yuan in some Chinese cities. The new fee applies in the cities of Guangzhou and Tianjin but not in Beijing and Shanghai. Other commercial lenders, including the ...

The local Consumer Price Index (CPI) should be used to help set the minimum wage for workers, according to a new plan expected to be finalized by the end of this year. Yang Yongqi, legal expert at the Chinese Academy of Labor Security Sciences, told China Business News that a draft of salary regulations was finished and could be approved by the State Council this year. The regulations, requested by the Ministry of Human Resources and Social Security (MHRSS) and All China Federation of Trad ...

China's drive to develop homegrown technology was "anti-foreign and regressive," the US Chamber of Commerce said in a report Wednesday. The report said China was abusing the allure of its vast market to push foreign companies to transfer their latest technologies to Chinese competitors. China has said foreign companies would be treated equally under the new policy. &$&$Source: Global Times&$&$ ...

"China should strengthen its reform of the yuan's exchange rate," Hu Xiaolian, a deputy governor at the People's Bank of China (PBC), said in a statement on its website Wednesday. "A fixed yuan exchange rate has caused excess capital in China's financial system that may stoke inflation, making it difficult to manage the economy," Hu said in another statement Monday on the PBC's website. "Foreign exchange inflows have accelerated along with the speed of the country's growth, and increases in f ...

US-trained chemist Wang Xiaochuan's Sundia MediTech Company Ltd - a private, Shanghai-based clinical research firm - enjoys brisk business even during tough times, thanks to a continuous flow of contracts from renowned drugmakers, partly boosted by the recession-proof pharmaceutical sector. What was started six years ago by a group of Chinese returnees who are medical practitioners - and was once considered ambitious, new and daring in China - is now a much sought-after business model. Glo ...

Small- and medium-sized enterprises (SMEs) in China spent almost 7 percent of total assets on entertaining their key business contacts to develop "social capital". Findings by the Globalization and Economic Policy Centre at University of Nottingham highlighted the continuing importance of guanxi - or informal networking - commonly practiced among Chinese businesses. Continued discrimination by banks and a business environment that still heavily favors State-owned enterprises have made spla ...

China's plan to allow yuan deposits held offshore to be channeled into the mainland's equities market will help shore up market liquidity, but it can hardly be an immediate market saver given the limited size of the initial capital pool, analysts said. China may soon launch a pilot program, dubbed the "mini-QFII (qualified foreign institutional investors)", which will allow overseas intuitional investors to facilitate investments of offshore yuan deposits back into mainland capital markets, l ...

China's stocks rose, extending gains for the benchmark index to 11 percent from this year's low, as a jump in industrial profits and the prospects for increased spending and tourism boosted the domestic economic outlook. Anhui Conch Cement Co led gains for cement makers after the Economic Information Daily reported China will announce a development for the industry. China Eastern Airlines Corp, the second-largest carrier, climbed to the highest in more than two months after Morgan Stanley rai ...

Central China's Henan province will consolidate most of its small coalmines to update the scattered industry base and eliminate outdated capacity. Among 466 small coalmines with an annual output capacity below 300,000 tons, 456 have already agreed to be merged with six leading coal companies in the province, local media said on Wednesday. Henan Coal Chemical Industry Group, Zhong Ping Energy Chemical Group, Yima Coal Industry Group, Zhengzhou Coal Industry Group, Henan Shenhuo Coal & Power ...

Zijin Mining Group, China's biggest gold producer, will reduce production after being instructed to do so by the local government in Fujian, where the company is based. The decision is expected to cut the company's gold output by 1 ton this year, according to a company statement filed the Shanghai Stock Exchange. Statistics show Zijin produced 75.37 tons of gold in 2009, up 31.05 percent from the previous year. Shanghang County government made the decision to limit the company's output to ...

Chinese credit rating agency Dagong Global Credit Rating on Wednesday said it might delay its American credit rating market entry plans, after the US government rebuffed its application earlier this year. The company also urged the US government to provide a fair trade environment for Chinese financial organizations. Guan Jianzhong, chairman of Dagong, which published its own sovereign credit rating two weeks ago, said the company is re-evaluating its global strategy after the US Securitie ...