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SAIC restructuring plan approved

2011-08-04 10:02:07

SAIC Motor Group, China's largest automaker by sales volume and revenue, announced that its asset-restructuring plan has received the green light from Chinese authorities.

Huawei bets on cloud-based smartphones

2011-08-03 17:16:58

China's Huawei Technologies Co Ltd, the world's No. 2 network equipment maker, launched new cloud-computing smartphones on Wednesday, looking to ride a mobile industry boom that drove a 64 percent sales rise in its devices unit in the first half.

47 central SOEs graded with A rating in 2010

2011-08-03 16:50:27

China's SOE watchdog said Wednesday it graded 47 centrally-administered state-owned enterprises (SOEs) that performed exceptionally last year with an A rating, up from 38 firms in 2009.

Conoco gets more orders for cleanup

2011-08-03 15:31:13

China's maritime authorities have urged ConocoPhillips China to clean up the oil-polluted seabed in Northeast China's Bohai Bay by Sunday. 

Alliances form in growing pharmaceutical market

2011-08-03 15:13:10

Huahai Pharmaceuticals wants to set itself apart from other local companies by planting a footprint in the US market.

China Huarong H1 profits surge 160%

2011-08-03 14:48:05

The China Huarong Asset Management Corp said on Wednesday that its first-half profits surged 160 percent year-on-year to 2.16 billion yuan ($337.5 million).

Geely to invest $2b in Indonesia

2011-08-03 13:29:31

China's Geely Automobile Holdings Ltd plans to invest $2 billion in Indonesia to tap strong consumer demand for cars in Southeast Asia's largest economy, Reuter reported on Wednesday, citing a newspaper.

SABMiller expands in China

2011-08-03 11:28:41

SABMiller, the world's second largest brewer, moved to expand further in China on Tuesday by increasing its stakes to 100 percent in two brewers in the Zhejiang province for $47 million in cash, Reuter reported Tuesday.

HSBC to keep hiring in China

2011-08-03 10:26:26

HSBC Holdings PLC said on Tuesday that it will continue to hire and invest in China, despite plans to cut tens of thousands of employee worldwide.

BMW Q2 profit soars as Chinese demand

2011-08-03 10:23:26

BMW tore through market expectations for second-quarter profits as more wealthy Chinese drove away with its revamped 5 Series saloon car, Reuter reported Tuesday.

Rare-earth output to be halted

2011-08-03 10:17:44

The rare-earth processor China Minmetals Nonferrous Metals Co said it is planning to halt output to adhere to the country's mandatory production limit. 

Haier to acquire business of Sanyo

2011-08-03 10:16:23

China's Haier and Japan's Sanyo have signed a Memorandum of Understanding (MOU) on Haier's acquisition of a portion of Sanyo's home appliance division, said a senior Haier company official on Tuesday.