Business News

Chinese shares plunge Tuesday led by heavyweights (Xinhua) Updated: 2009-11-24 16:17 Chinese equities plunged Tuesday led by declining heavy weights and banking stocks, paring earlier gains in the previous trading week.

Aviva to set up JV with Central China Securities By Hu Yuanyuan (chinadaily.com.cn) Updated: 2009-11-24 15:41 Aviva, the world's fifth-largest insurance group, has inked a deal with Henan-based Central China Securities to set up a joint-venture asset management company, sources told China Daily yesterday.

Rising inputs to prop aluminum (China Daily/Agencies) Updated: 2009-11-24 08:11 Aluminum prices will be supported for the next three years by rising production costs in China, the biggest producer, and a recovery in global demand, Macquarie Securities Ltd said.

Banks asked to avoid big fluctuations in lending (Xinhua) Updated: 2009-11-24 09:09 China's banking regulator on Monday asked the country's commercial banks to better manage risks and avoid year-end volatility in lending.

BBVA may boost CITIC Bank stake By Fei Ya (China Daily) Updated: 2009-11-24 08:11 China's medium-sized lenders are competing to raise capital from foreign partners or the stock market and eyeing opportunities to boost loan business in the first half of 2010.

Far East seeks 66b yuan for hybrids venture (China Daily/Agencies) Updated: 2009-11-24 08:11 Far East Golden Resources Group Ltd, headed by Yang Rong, who fled China in 2002, is seeking 66 billion yuan to build hybrid cars in the country, a sum about 44-times its market capitalization.

Guangxi government helps farmers sell bananas (Xinhua) Updated: 2009-11-24 15:59 Government of southern China's Guangxi Zhuang autonomous region is trying its best to make locally-yielded bananas to become marketable.

'Learn mine safety lessons' By Li Anna in Hegang and Hu Yinan in Beijing (China Daily) Updated: 2009-11-24 08:00 The country's top work safety official has blamed poor management and inadequate safety precautions for Saturday's mine blast in Heilongjiang province that claimed at least 104 lives.

China speeds up railway building in western regions (Xinhua) Updated: 2009-11-24 11:24 China would extend railways to more than 50,000 kilometers in its vast western regions by 2020, a senior railway official said on Monday.

Debate on overcapacity blows up in China's wind power sector (Xinhua) Updated: 2009-11-24 13:37 A split has emerged in China's wind power industry over its future development and government policies intended to avoid "excess capacity."

14 listed banks net profit up 2.15% in first nine months By Zhang Jiawei (chinadaily.com.cn) Updated: 2009-11-24 15:53 China's 14 listed banks gained a combined net profit of 338.6 billion yuan ($49.6 billion) in the first nine months of this year, up 2.15 percent year-on-year.

Cold shrinks Qinhuangdao coal stockpile by 700,000 tons By Song Jingli (chinadaily.com.cn) Updated: 2009-11-24 10:34 The sudden cold weather has forced the coal stockpile at Qinhuangdao port in north China to drop to 7.8 million tons, a decrease of 700,000 compared to the week before.

Mergers shrink Shanxi mine firms from 2000 to 130 By Song Jingli (chinadaily.com.cn) Updated: 2009-11-24 10:22 The number of coal enterprises in north China's Shanxi province has dropped from more than 2000 to 130 after a merging and overhaul of the industry, according to the Shanxi Provincial Office of Coal Industry.

Natural gas shortage eased amid warmer weather (Xinhua) Updated: 2009-11-24 09:30 The situation of gas shortage has been eased, the Development and Reform Commission (NDRC), China's top economic planner, said in a statement posted on its website Monday.

Residents want garbage project thrown out By Qiu Quanlin (China Daily) Updated: 2009-11-24 08:00 More than 1,000 residents in Guangzhou raised a stink yesterday over plans to build a massive garbage incinerator in the heart of the Pearl River Delta.

China may be "champion" in climate change fight: IEA chief economist (Xinhua) Updated: 2009-11-24 16:59 China will be the "champion" of fighting climate change if it can reach the energy consumption targets it has already set, according to the chief economist of International Energy Agency (IEA).

High quality FTA in interests of China and Australia: minister (Xinhua) Updated: 2009-11-24 16:14 Not long after China and Australia have passed the bumpy road and come back to "business as usual", both sides set to resume the Free Trade Agreement (FTA) negotiations. Why is the FTA so important and urgent to both China and Australia? How does a free trade agreement benefit China particularly?

Mind unspoken intention of Western climate change diplomacy (Xinhua) Updated: 2009-11-24 16:11 I'm keeping coughing after a brief visit to a sizable developing nation -- not because of a possible A/H1N1 infection but the continuous exposure to strong smell of fuel and pollutants on roads of the country, where 20-year-old obsolete cars rattled everywhere.

Handing over family business Chinese-style (China Daily) Updated: 2009-11-24 08:04 The children of most of the people who got rich first after the reform and opening up have grown up into adults today. But the "second affluent generation" is drawing public attention for all the wrong reasons: rich brats racing in their cars through crowded streets or using the Internet to flaunt t ...

Time for debate on exit strategies By Zhu Qiwen (China Daily) Updated: 2009-11-23 07:49 The different pace of economic recovery across the world highlights not only the varying degrees of success in international efforts to fight the worst global financial and economic crisis in decades, it also underscores the urgency to discuss how stimulus measures should be withdrawn in line with c ...

Automobile industry flexing muscles By Patrick Whiteley (China Daily) Updated: 2009-11-23 08:03 China's prosperous auto revolution will influence the look, design and type of car everyone will be driving in the not-so-distant future.

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