A Chinese government report released on Thursday praises Beijing’s efforts in Tibet while harshly criticizing the Dalai Lama. The report, issued about a month before an expected third round of talks between Beijing and representatives of the Dalai Lama, highlighted Beijing’s investment in the region and accused the exiled Tibetan spiritual leader of spreading false [...]
China successfully launched the Shenzhou VII space mission, which is to feature the country’s first spacewalk. The launch at the Jiuquan Satellite Launch Center in Gansu province was attended by President Hu Jintao and other leading officials. Three astronauts are participating in the 68-hour mission, led by Zhai Zhigang, the air force colonel who will [...]
Venezuelan President Hugo Chávez said his country will increase exports of crude oil to China by 25% in 2009. The announcement came on the last day of Chávez’s visit to China. Sales of crude from Venezuela will rise from 400,000 barrels a day to 500,000, and Chávez said he expects daily exports to reach 1 [...]
Steelmaker Jiangsu Shagang Group agreed to buy a 45% stake in Australian iron ore producer Grange Resources (ASX: GRR). Grange will combine with Australian Bulk Minerals, a Shagang-controlled operator of an iron-ore mine in Tasmania, to create a new US$836 million company. The deal is expected to accelerate development of Western Australia’s Southdown iron ore [...]
China Petroleum and Chemical Corp (Sinopec) announced it would buy access to Syrian oil assets belonging to Canada-listed Tanganyika Oil for US$2 billion. Earlier in the week, “market sources” told the South China Morning Post that Sinopec was offering a “US$1 billion-plus” bid for the company, which was unlikely to be matched by rival bidder, [...]
The Shanghai Composite Index (SCI) closed at a three-week high Thursday after state-owned firms bought back shares of their listed subsidiaries. The SCI ended the day up 3.6%, to close at 2,297.501. On Sunday, regulators moved to encourage state-owned firms to buy back shares to help prop up the market. That was in addition to [...]
The State Council has approved plans by the China Securities Regulatory Commission (CSRC) for short selling and margin lending to help develop the domestic stock market, citing an official familiar with the plan. The plan, whose approval comes as domestic share prices and trading volumes have fallen, is in contrast to moves by US and [...]
Three Chinese astronauts made final preparations in Jiuquan, Gansu province before the launch of a mission that will include the country’s first spacewalk. The Shenzhou VII, the name of the spacecraft, “is a new breakthrough” for China’s space program, said Zhai Zhigang, one of the three that will launch into orbit this evening. Zhai has [...]
Venezuelan President Hugo Chávez said Wednesday that a joint investment fund between his country and China would have US$12 billion in capital, twice the amount originally announced. Chávez, who made the announcement in Beijing on the second day of his three-day visit to China, hopes that China can eventually overtake the US as his country’s [...]
TCL Corp, China’s largest consumer electronics maker, has cut the target for its upcoming share sale by US$44 million, saying that it already had enough cash for a planned rights issue of its television arm, TCL Multimedia. In stating its decision to cancel part of its fund-raising plan, the Shenzhen-listed company cited improved performance since [...]
