GM aims to buy back 1% of Chinese venture

2011-06-09 11:14:07

General Motors Co (GM), the biggest overseas automaker in China, said it intends to exercise an option to buy back a 1 percent stake in its main car venture in the country to make it an equally held unit with its partner.

Goal for domestic 3G network set at 50m users

2011-06-09 10:54:34

The Chinese government has set a target of achieving more than 50 million third-generation (3G) mobile users by the end of 2011 for its homegrown telecommunication standard, but analysts predict the technology may not be the biggest winner in the 3G era.

Dollar holdings risky, SAFE official warns

2011-06-09 10:33:18

China should guard against risks from "excessive" holdings of US assets because Washington could pursue a policy to weaken the dollar, a senior currency regulator said.

Jahwa rejects LVMH acquisition report

2011-06-09 10:55:13

Shanghai Jahwa United Co Ltd on Wednesday rebuffed media reports that it could be acquired by the French luxury brand LVMH Group, reiterating the line that the State-owned cosmetics manufacturers will keep its domestic tag in its planned share sale.

China hopes for Russian gas breakthrough

2011-06-09 10:24:30

China said on Tuesday that it hopes for a "major breakthrough" in gas talks with Russia ahead of a visit next week by President Hu Jintao, who has made securing energy for the world's second-biggest economy a diplomatic priority.

Banks may see revenue drop

2011-06-09 10:27:29

China's commercial banks are likely to face revenue declines in the second half of this year, assuming that the central bank further tightens monetary policies to tame soaring inflation.

Chemical firm investigated over toxic leak

2011-06-09 10:21:19

A chemical company in East China's Zhejiang province is being investigated on the suspicion that it discharged waste that polluted a local river and disrupted tap water supplies.

Economists, too, possess concerns with tax law drafting

2011-06-09 10:19:31

After China's latest personal income tax reform plan received a record response from the public last week, Chinese economists also expressed concerns on Wednesday.

Designed in Japan, but made in China

2011-06-09 09:46:34

China is likely to see a new wave of Japanese companies transferring their domestic production lines to the country, as a result of the devastating earthquake and tsunami in March.

Car sales stuck in low gear as sales tumble

2011-06-09 09:31:05

China's automobile market continued to slow down with further negative month-on-month passenger vehicle sales growth in May, sparking concern that it may have difficulty reaching its previous sales target of 20 million vehicles this year.

Some families refuse melamine money

2011-06-09 09:30:44

By the end of last year, the families of 272,000 victims of melamine-tainted milk and dairy products had signed up for one-time compensation payments.

High growth to continue: World Bank

2011-06-09 09:30:18

The economy will maintain its high growth levels and the government still has plenty of room to further tighten monetary policy, World Bank economists said on Wednesday.