Business News

China Pacific Insurance Co Ltd on Friday got the green light from Hong Kong Stock Exchange for its $3.4 billion share float in Hong Kong. By Wang Bo (China Daily) Updated: 2009-11-28 07:27 China Pacific Insurance Co Ltd on Friday got the green light from Hong Kong Stock Exchange for its $3.4 billion share float in Hong Kong.

Carbon-cut target a 'milestone' By Fu Jing (China Daily) Updated: 2009-11-28 07:24 A high-ranking United Nations official said China's decision to make a 40 to 45 percent cut in carbon intensity by 2020 is "a milestone" leading up to the Copenhagen summit, which opens Dec 7.

Peugeot to launch China car in 2011 By Li Fangfang (China Daily) Updated: 2009-11-28 07:27 French automaker PSA Peugeot Citroen expects to steal a march over its rivals in the Chinese market by launching its first exclusively 'made-for-China' car in 2011, according to company officials.

CSCEC not exposed to Dubai debt crisis (Xinhua) Updated: 2009-11-28 17:25 China State Construction Engineering Corp (CSCEC), the largest contractor in China, said Saturday that it had "no business relations" with the troubled Dubai World and its business in the Emirate would not be affected.

Coal mine officials sacked after explosion (Xinhua) Updated: 2009-11-28 16:14 An official of the State-run coal mine in northeastern Heilongjiang province, where 108 people were killed in a blast last Saturday, was removed from post Sunday, according to a company spokesman.

Q3 MICE events held in Macao drops 11% (Xinhua) Updated: 2009-11-28 16:13 The number of MICE (meetings, incentives, conventions and exhibitions) events held in Macao was 310 in the third quarter of 2009, decreasing by 11 percent over the previous quarter, according to the figures released Friday by its Statistics and Census Service (DSEC).

Macao Q3 power consumption up 7.8% (Xinhua) Updated: 2009-11-28 15:59 The consumption of electricity in Macao totaled 1.1 billion kWh in the third quarter of 2009, an increase of 7.8 percent over last year, according to the figures released by its Statistics and Census Service (DSEC) on Friday.

HK's October visitor arrivals up 9% (Xinhua) Updated: 2009-11-28 15:48 Hong Kong saw a 9 percent year-on-year rise in visitors in October to 2.762 million, the Hong Kong Tourism Board said Friday.

Aluminum consumption may rise 12% in '09 (Agencies) Updated: 2009-11-28 15:47 China's aluminum consumption may rise 12 percent this year, as the booming real estate industry, power network construction and car sales boost demand for the metal, said Wang Feihong, analyst at a unit of China Minmetals Corp.

Interbank clearing house set in Shanghai (Agencies) Updated: 2009-11-28 15:38 The People's Bank of China, the central bank, set up an interbank market clearing house in Shanghai today to help improve financial innovations in currency and bond trading.

Delegation signs deals with French firms (Xinhua) Updated: 2009-11-28 10:04 Visiting Chinese Commerce Minister Chen Deming and French Finance Minister Christine Lagarde oversaw the signing of more than 40 contracts between a Chinese business delegation and French enterprises in Paris on Friday.

Sanlu sued by tainted-milk victim family By Cui Xiaohuo (China Daily) Updated: 2009-11-28 07:25 A lawsuit filed by a family that was a victim of the melamine-tainted milk scandal saw its day in court on Friday - the first trial for the families suing the milk company since the incident broke out more than one year ago.

Lenovo to buy back cell phone arm (China Daily) Updated: 2009-11-28 07:24 Lenovo Group said on Friday that it would spend $200 million to buy back the cell phone business it sold to a group of investors last year. Lenovo had spun off its mobile phone unit in February for $100 million to boost profitability.

COFCO chairman awarded Business Leader (chinadaily.com.cn) Updated: 2009-11-27 17:49 Frank Ning, chairman of COFCO, was awarded the Asia Business Leader of 2009 on Thursday by CNBC Asia Pacific, a media company headquartered in Singapore.

HK stocks close 4.84% lower on Dubai woes (Xinhua) Updated: 2009-11-27 17:22 Hong Kong stocks dived 1,075.91 points, or 4.84 percent to close at 21,134.5 on Friday amid sell- off triggered by the Dubai debt concerns.

Carbon-cut signals China's resolve against common threat (Xinhua) Updated: 2009-11-28 11:06 Days after the United States announced to cut its carbon dioxide emissions by 17 percent from 2005 levels by 2020, China promised to slice carbon intensity in 2020 by 40 to 45 percent compared with 2005 levels.

China's major energy firms are boosting natural gas production and imports to ease shortages caused by a cold snap this month. By Xiao Wan (China Daily) Updated: 2009-11-27 08:02 China's major energy firms are boosting natural gas production and imports to ease shortages caused by a cold snap this month.

Chinese banks are expected to become an important source of capital financing for airplane purchases globally in the coming years as they fill a void left by the exit of many US and European banks, a By Lu Haoting (China Daily) Updated: 2009-11-27 08:02   Chinese banks are expected to become an important source of capital financing for airplane purchases globally in the coming years as they fill a void left by the exit of many US and European banks, a senior executive from Boeing's financing arm said yesterday.

Current macro-economic policy to stay next year (Xinhua) Updated: 2009-11-27 17:08 China's government will continue the proactive fiscal policy and moderately easy monetary policy next year, the political bureau of the Communist Party of China (CPC) Central Committee said Friday.

China pilots VC funds for innovation, restructuring (Xinhua) Updated: 2009-11-27 09:47 China's central government Thursday announced it is to join local governments and private investors in a pilot program to facilitate venture capital funds for innovative and high-technology industries, and industrial restructuring.

China targets massive 45% carbon cut By Fu Jing, Li Jing and Sun Xiaohua (China Daily) Updated: 2009-11-27 07:53 China said yesterday it was targeting a hefty 40-45 percent cut in carbon intensity by 2020 and Beijing also announced Premier Wen Jiabao would lead the nation's charge for real climate change progress at the Copenhagen summit.

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