Under the newest guidelines due out in March, Chinese automakers may have to agree to take over a rival firm to receive regulatory approval for expansion projects. Beijing is looking to create major auto corporations that can compete with global giants from the 100-some players currently manufacturing cars in China. The combined sales of China’s [...]
Shares of XD Electric, China’s largest maker of power transmissions and distribution equipment by sales, fell below their initial public offering price on weak sentiment in this year’s Shanghai stock market. Sales closed Thursday at RMB7.79 ($1.14), down 1.4% from their IPO price of RMB7.9. Analysts had predicted the shares would rise 10%. Concerns over [...]
As funds from the RMB4 trillion stimulus package dry up and curbs are being placed on bank lending, China may not be able to realize its ambition to create a railway network to rival that of the US. Funding shortages caused some difficulties last year and may continue to plague costly high-speed rail projects this [...]
Shanghai’s mayor Han Zheng wants to build budget housing to be sold for 50% less than the market price near the site of the intended Disneyland amusement park. “I must stress that we don’t expect housing prices around the Disneyland project to be too high,” Han said. Land close to Disney theme parks is typically [...]
Vice Premier Li Keqiang, the official who is being groomed to be Premier Wen Jiabao’s successor, said China will maintain its current economic policy but with increased flexibility to manage inflation expectations. Speaking at the World Economic Forum in Davos, Switzerland, Li’s comments hinted at a shift toward a slightly tighter monetary policy. Concerned over [...]
The National Development and Reform Commission predicts oil prices will rise to $80 a barrel this year, up 25% from last year. The current price is $74 per barrel. The agency says the price increase will be supported by a loose monetary policy that increases investments in futures markets. China’s apparent oil demand rose 15% [...]
Chinese companies are better protected than other companies from cyber attacks according to the results of a survey released by the Center for Strategic and International Studies and technology security company McAfee. The survey found a greater use of security measures including encryption and user authentication in China than in any other country. More countries [...]
