A carton of cigarettes is the most popular gift to give or receive for Spring Festival, or Chinese New Year. According to a survey conducted by the Jiangsu center for Disease Control and Prevention, over half of respondents said they will give cartons of cigarettes as gifts to families and business partners, despite 68% of [...]
China Petroleum and Chemical Corp, or Sinopec, believes more frequent revisions of China’s fuel prices would cut out the speculation that leads to gasoline and diesel hoarding. An unnamed Sinopec official said the government is looking over a proposal submitted by refiners which advocates a change to the rules that allow the government to alter [...]
Rio Tinto has appointed Ian Bauert as head of its China business following the arrest of Stern Hu and three other staff members on allegations of corporate espionage. “This appointment recognizes the importance of China as a long-term partner with our organization and our intention to foster new and dynamic relationships as China’s development continues,” [...]
China’s Ministry of Finance is planning to increase its holding in Bank of Communications (BoCom) when the bank issues new shares in order to replenish its capital base. A source close to the ministry said that following regulatory approval for the new share issue, the Ministry of Finance would buy a stake but the size [...]
Lenovo Group booked net profit of $79.5 million for the quarter ended December 31 against a net loss of $96.7 million the previous year after the PC maker shifted its sales strategy to target China and other emerging markets. Shipments in China over the fiscal third quarter rose 54% year-on-year, accounting for $2.3 billion, or [...]
China has filed a complaint with the World Trade Organization against the European Union over its decision to extend anti-dumping levies on Chinese and Vietnamese leather shoe imports by 15 months to protect EU shoemakers. The trade action arises amid deteriorating relations between Beijing and Brussels but is only the second time China has taken [...]
