China cuts retail oil prices

China cuts retail oil prices

Cuts in the retail price of gasoline by 245 yuan per tonne (39.80 U.S. dollars) and that of diesel by 235 yuan from Tuesday, were announced by China’s top economic planner on Monday. The adjustment means the benchmark retail prices drop by 0.18 yuan per liter for gas and 0.2 yuan per liter for diesel, […]

China Development Bank opens office in Venezuela

The China Development Bank (CDB) opened an office here on Saturday, a move that indicates the two countries will further strengthen their economic relations. Addressing the opening ceremony, CDB President Hu Huaibang stressed the importance of the office in boosting Chinese investment in Venezuela and promoting two-way trade. “Our office in Caracas is the second […]

G20 trade ministers meet in Sydney

The G20 trade ministers gathered in Sydney on Saturday to discuss the contribution of trade and investment to growth and how to strengthen the global trading system. Andrew Robb, Australian minister for Trade and Investment, said in the opening remarks to the G20 Trade Ministers Meeting that trade and investment have become of great interest […]

1st official Apple store to open in Chongqing

1st official Apple store to open in Chongqing

With the creation of the new slogan tailored to Chongqing by Apple, “Share in Chongqing’s abundance”, the largest official Apple store in southwest of China is counting down the days till opening. Early in the morning, the external wall curtain hiding the interior of the Apple store, located in Beicheng Paradise Street (北城天街), Chongqing, was […]

BMW, China’s Brilliance extend contract term

BMW, China’s Brilliance extend contract term

German car maker BMW Group and its Chinese partner Brilliance Auto have agreed to extend the term of their joint venture contract to 2028. The contract extension will lay a solid foundation for BMW’s further development in China, Friedrich Eichiner, chief financial officer and group board member, said in Beijing on Wednesday. The group also […]

China’s SOEs more profitable in 1H

Profits of China’s state-owned enterprises (SOEs) grew faster in the first half of this year from a year earlier. Combined profits of SOEs administered by both central and local authorities increased 8.9 percent year on year to 1.22 trillion yuan (198 billion U.S. dollars) in the year half, the Ministry of Finance (MOF) said on […]

China’s LED industry brightens up

China’s growing demand for greener illumination gave the country’s light emitting diode (LED) makers an easy time this year with good profits in the first half of 2014. Of 38 listed LED makers to publish semiannual financial results, 31 reported improved performance. The net profits of 12 companies grew by more than 50 percent. HC […]

Chongqing Cross-Border E-Commerce Platform develops well

23 days on from the installation of the Chongqing Cross-Border E-Commerce Service Platform, completed transactions have already numbered 6,359. The financial transaction quantity has amounted to over 2.0525 million yuan according to news from the Chongqing Administration of Customs (CAC) on Tuesday. Xu Xin, Deputy Commissioner of the CAC, stated the integration of a number […]