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Biz Statistics

China's dependence on imported iron ore hits 70%

China's dependence on foreign iron ore approached about 70 percent in 2009, 13 percentage points higher than the previous year, said a Shanghai Securities News report on Friday, citing a government official.

HK's jobless rate falls to 4.6%

Hong Kong's unemployment rate fell to 4.6 percent in the December to February period, from 4.9 percent in the November-January quarter, the Census and Statistics Department said on Thursday.

InfoGraphic
State firms told to exit real estate sector

In a move to curb soaring property price, the State-assets watchdog on Thursday told major State-owned enterprises (SOEs) whose core business is not real estate to quit the market. New real estate elephants

Rio, Chinalco in JV deal to develop Africa project

Mining giant Rio Tinto struck a deal with Aluminum Corporation of China (Chinalco) on Friday to develop the Simandou iron ore reserve in Guinea in West Africa.
Chinalco makes fresh overtures to Rio Tinto
Ore price hikes force mills to appeal for govt support

Economy

Yuan solution 'will be found'

The top US envoy to China on Thursday expressed confidence that the two countries will find a solution to the yuan exchange rate.
Yuan 'not cause of US woes'
Pressing on yuan to hurt US economy: US media

Trade

China to reopen pork market to US exports

China agreed to reopen its market to imports of US pork, ending a ban that went in place after the outbreak of the H1N1 flu last year, the US trade representative's office said.

M&As

Big miners eye copper assets

Central State-owned miners will accelerate acquisition of copper assets this year to capitalize on the price rally as the government encourages mergers and acquisitions (M&A) to streamline the industry.

Companies Domestic Foreign JV

Listed realtors to post rosy returns

Listed property companies may on an average see a 60 percent increase in 2009 net profit and report even stronger numbers this year, industry analysts said on Thursday.

China Fire Q4 profit halves

Fire safety products maker China Fire & Security Group Inc posted a 57 percent drop in quarterly profit, hurt by income tax on its operating subsidiary in China and the delay in signing a steel project contract.

Energy

Drought forces SW provinces to ration electricity

The severe drought in China's southwest region has forced some provinces to ration their electricity, Chengdu Business Daily reported Friday.

New port to boost Inner Mongolia's coal output

The landlocked coal-rich Inner Mongolia in north China will soon have an open access to ship its coal from a port in its neighboring province to fuel-thirsty customers in eastern and southern regions.

Technology

Gray-market iPad orders power up

A review of popular online shopping website, taobao.com, reveals several hundred people are offering to flog Apple's new tablet for prices ranging from 3,500 yuan to 6,200 yuan.

China Mobile to reduce capital spending

China Mobile, the world's largest mobile operator, said on Thursday that it plans to reduce capital spending over the next three years as network expansion for third-generation (3G) services nears a close.

Money Markets Banking Personal Finance

HSBC buys China's bank stocks

HSBC Global Asset Management bought China's bank stocks even amid concerns that record credit growth will increase bad loans and accelerate inflation.

Rural financial institutions see 71.6b yuan profit

China's small- and medium-sized rural financial institutions developed fast in 2009, and the total profit reached 71.6 billion yuan ($10.49 billion), the Shanghai Securities News reported on Friday, citing the China Banking Regulatory Commission (CBRC).

Cars

GM China to recall 7,942 Cadillac CTS cars

GM China Investment Co is to recall 7,942 imported Cadillac CTS cars in the Chinese mainland from April 28 due to possible brake fluid leakages, China's quality watchdog said Thursday.

Geely set for control of London taxi maker

China's Geely Group is set to increase its grip on lossmaking London black cab taxi maker Manganese Bronze by taking a controlling stake and moving more of the production of the TX4 cab to China.

Opinion Columnists BizViews

Hint to Google: Review the road rivals traveled

Google has not been doing as well in China as it does in other countries. Its China business has trailed badly behind Chinese domestic search company Baidu, which claims nearly 70 percent of the market share.

Newsmaker

Yao Ming slams 30m yuan into gold basket

With more celebrities making a fortune in the Chinese stock market, the famous basketball player, Yao Ming is also getting on board. Beijing Unistrong Science & Technology Co Ltd, a high-tech firm in Beijing's Zhongguancun, issued its fundraising plan yesterday. The company plans to raise 469 million yuan through offering 30 million shares on ChiNext.

Biz Unusual

Living in containers

Clusters of containers transformed into temporary apartments for rent appeared in the suburbs of Shenzhen, Guangdong province, the Guangzhou Daily reported.

Positive posts make money for crisis firms

Pet fair targets big-time buyers

Woman hires boyfriend online to please mother

Migrants cash in on labor shortage

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Major Markets
Name Value Change Time
Shanghai 3,067.75 +0.71% Fri
Shenzhen 12,352.92 +0.95% Fri
HSI 21,330.67 -0.25% Thur
NIKKEI 10,824.72 +0.75% Fri
Dow 10,779.71 +0.42% Thur
Nasdaq 2,391.28 +0.09% Thur