The World Bank said yesterday it has approved a plan to provide $440 million in loans to finance China's energy sector projects, accounting for about one-third of its budgeted 2008 lending to the country.
Hong Kong-listed Chinese automaker Dongfeng Motor Group Co's joint venture with Japan's Nissan Motor Co yesterday unveiled an ambitious plan to expand in the world's second biggest and fastest-growing vehicle market.
LG Electronics and China's Haier Group Corp are among the potential suitors for General Electric Co's century-old appliances division, said Jeffrey Immelt, CEO of the US company.
A possible economic recession in the United States is creating anxiety among small and medium-sized enterprises (SMEs) in Asia, a survey by UPS showed yesterday.
Taking the cue from the plunge in Wall Street on Friday, the mainland and Hong Kong stock markets, along with most other Asian bourses, took a dive yesterday.
Zheng Xiao, a 53-year-old insurance agent with China Life, has been overworking for two weeks, as the number of consultation calls about insurance products jumped by nearly 40 percent since the May 12 earthquake.
China Huaneng Group has signed a 4.5 billion yuan contract with Dongfang Electric for power generation equipment supply in a move to help the earthquake-hit company get back on its feet.
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Raymond Zhou
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