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 [...]
The Apple iPhone handsets set to be released by China Mobile in the mainland market may lack the 3G and Wi-Fi network functionality found in the phones elsewhere, as phones with those functions have not yet been approved by regulators in Beijing, citing the Daiwa Institute of Research. Daiwa analyst Calvin Huang was cited as [...]
Countries have increased testing of imported foods from mainland China as the tainted-milk scandal raises doubts abroad about Chinese-made products. Taiwan and Indonesia have banned mainland-made dairy products, joining at least 10 other regions that have done the same. Chinese authorities have told the public that no traces of melamine – which has sickened over [...]
Overseas investors are pulling money out of China as the US financial crisis puts a pinch on capital and the RMB’s appreciation against the US dollar slows, citing Martin Currie Investment Management. A lack of capital due to the financial crisis has caused an initial round of repatriation of funds, said Chris Ruffle, head of [...]
The China Securities Regulatory Commission (CSRC) has resumed preparations to introduce margin lending and short selling for mainland stocks in an effort to bolster the A-share market. The Shanghai and Shenzhen bourses have been asked to provide detailed plans for the derivative products, which allow investors to borrow from brokers to buy shares and borrow shares [...]