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Biz Statistics

Consumer complaints hit new high in 2009

More than 223,000 Chinese consumers filed complaints on consumer electronics last year, almost double the record in 2008, according to a survey released by www.315ts.net under the China Electronic Chamber of Commerce (CECC).

China's power consumption grows 26% in Jan-Feb

China's electricity consumption in the first two months grew 26 percent year-on-year to 626.4 billion kWh, People’s Daily reported on Tuesday, citing the National Energy Administration.

InfoGraphic
FDI climbs a seventh month

China's foreign direct investment (FDI) rose for the seventh consecutive month in a row, albeit at a shade lower than earlier, the Ministry of Commerce (MOFCOM) said on Monday.

China's trade surplus with US misread

Most US officials ignore a very important fact: a majority of China's exports to the US are produced by US-funded companies and huge profits go back into American pockets.
Obama is 'playing with fire' over yuan
China trims holdings of US Treasuries
Wen stands firm on yuan

Banking

China's city lenders on fundraising trail

City banks may introduce more strategic investors or raise funds from the capital markets through initial public offerings to better manage their loan concentration and credit risks, sources familiar with the matter told China Daily on Monday.
Guangdong bank aims for IPO next year - source
Bank of China aims to issue new HK shares soon
Agricultural Bank plows ahead

Technology

Google has not halted censoring search results

Google China said on Monday that it is complying with regulations to censor search results on its website, although earlier reports said the company plans to stop doing so as negotiations with the government are reportedly at a stalemate.

Banking

BOC, Temasek join hands

Bank of China Ltd (BOC) and Temasek Holdings Pte may invest as much as 20 billion yuan ($2.9 billion) to build a rural-banking business in China, said two people with knowledge of the matter.

Companies Domestic Foreign JV

Shippers sail through rough waters by diversifying

Shipping companies are diversifying their businesses in a bid to get through an industry downturn triggered by contracting global trade and plunging shipping fees.

Ore price hikes force mills to appeal for govt support

Estimates that iron ore contract prices may go up have put further pressure on Chinese steel mills, forcing them to appeal to the government to solve the problem at a national level.

Energy

Shenhua looking at M&A deals

China Shenhua Energy Co, the nation's biggest coal producer, said it's looking to expand output with mergers and acquisitions and has been bidding to develop Mongolia's Tavan Tolgoi deposit. 

China's power consumption grows 26% in Jan-Feb

China's electricity consumption in the first two months grew 26 percent year-on-year to 626.4 billion kWh, People’s Daily reported on Tuesday, citing the National Energy Administration.

Technology

3G fueled by 160b yuan in 2009

China's three major telecom operators have built 325,000 3G base stations and invested up to 160.9 billion yuan ($23 billion) last year, according to the Ministry of Industry and Information Technology, YICAI.com reported today.

HP apologizes for faulty laptops

American computer giant Hewlett-Packard has apologized for any inconvenience caused to its consumers due to the quality of its products and services.

Money Markets Banking Personal Finance

T Rowe Price mulls Citic Securities stake

US fund house T Rowe Price is in advanced talks to buy a stake in China's biggest asset manager from Citic Securities Co, two sources with direct knowledge of the deal said on Monday.

Banks may have role in futures settlement

The nation's top banking regulator said on Monday Chinese banks' involvement in the settlement of stock index futures remains under discussion, but sources indicated that banks are unlikely to participate in such settlement at the initial stage.

Cars

BYD scales back electric-car plans: report

BYD Co, the Chinese carmaker backed by Warren Buffett, has given up a plan to mass produce electric cars in China by the middle of this year, the South China Morning Post said.

China must learn from Toyota's mistakes

Japanese automakers' recent product recalls were not only a warning to Chinese homegrown brands not to expand too fast and ignore management and quality control, but also sounded an alarm to China's automobile recall system.

Newsmaker

Young lady with designs on the fashion world

The young woman has become a web celebrity with her Haiyan garment factory employing more than 100 staff and a popular online store at Taobao.com, China's largest e-commerce site similar to eBay.

Biz Unusual

Positive posts make money for crisis firms

An underground business, that charges companies high fees to delete negative news or posts against them, has been flourishing in the run-up to World Consumer Rights Day today, normally regarded as the most important day to highlight a company's good reputation.

Pet fair targets big-time buyers

Woman hires boyfriend online to please mother

Migrants cash in on labor shortage

Plug pulled on waste of natural heat

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Major Markets
Name Value Change Time
Shanghai 2,992.84 +0.53% Tue
Shenzhen 11,948.76 +0.38% Tue
HSI 21,022.93 -0.27% Tue
NIKKEI 10,721.71 -0.28% Tue
Dow 10,642.15 +0.26% Mon
Nasdaq 2,362.21 -0.23% Mon