China to upgrade transport infrastructures in Tibet

China has vowed to further promote the development of transport infrastructures in Tibet to make travels on “the roof of the world” much easier. The Ministry of Transport (MOT) said in a guideline that China aims to expand highways in the autonomous region to 110,000 kilometers by 2020. China plans to complete a primary network […]

China’s H1 industrial profits up 11.4 pct

Chinese industrial businesses saw their profits rise by 11.4 percent year on year in the first half of this year, official data showed on Sunday. Total profits of industrial companies with annual business revenue of more than 20 million yuan (3.2 million U.S. dollars) reached 2.86 trillion yuan, the National Bureau of Statistics (NBS) said […]

Foreign investment to Shanghai up 10.9 percent in H1

Shanghai received 9.2 billion U.S. dollars of foreign investment in the first half of 2014, up 10.9 percent from a year earlier, the Shanghai municipal government said Thursday. About half of new foreign-invested projects went to the Shanghai Free Trade Zone. Twelve multinational corporations (MNCs), including Volvo, Zegna and Danone, have set up their regional […]

China to contribute to new global trade system

China to contribute to new global trade system

China will join in and contribute to the construction of a new global trade system, said Premier Li Keqiang in Beijing on Tuesday. Li also called on the United States to be more open and to create more favorable conditions for the two countries’ deeper cooperation, while meeting a delegation of U.S. business leaders and […]

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 […]

China to develop starting point of Maritime Silk Road

Chinese Vice Premier Zhang Gaoli urged acceleration of the opening-up of southeast China’s Fujian Province, the starting point of the historic Maritime Silk Road, during his visit there from Thursday to Saturday. Zhang said the local authorities should strengthen economic ties with countries and regions along the maritime trade route and boost two-way investment. More […]

China’s June forex purchase likely to rebound

Foreign exchange purchases in June will rise significantly from May, Lian Ping, chief economist at Bank of Communications, was quoted by Saturday’s China Securities Journal as saying. Lian noted that June’s exports are very likely to move up following improvements from March to May, probably resulting in a bigger trade surplus and more funds available […]

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 contributes $41 bln to contingent reserve

The BRICS countries are a step closer to having a bigger say in the world’s financial system, after it announced the establishment of the BRICS New Development Bank. The BRICS economies have agreed to create the Contingent Reserve Arrangement, where each country’s central bank puts aside a designated amount of money to combat any potential […]

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