China Economic ReviewChina Unicom, the country's second largest mobile operator, announced that it had reached an agreement with China Galaxy Securities to allow subscribers to buy and sell stocks using their CDMA cellular phones. Based on CDMA networks, China Galaxy's software enables subscribers to study real-time stock market performance, deal in stocks and check real-time technical charts. […]
CSX World Terminals Yantai, a 50:50 JV with a total investment of US$99.16 million, was set up between US port operator CSX World Terminals and the Yantai Port Authority to manage and upgrade Yantai Port in Shandong province. The company hopes to increase annual container handling capacity to one million TEUs (20-feet equivalent units) by […]
Cathay Life Insurance, Taiwan's largest life insurer, plans to form a life insurance venture with China Eastern Airlines, tapping the distribution network of the nation's third-largest carrier. The RMB 800 million venture is awaiting mainland regulatory approval and would be half-owned by each partner. Premium income for mainland life insurers surged 45% to RMB 305.3 […]
China appointed Ning Fukui, the former Chinese Ambassador to Cambodia, to act as the country's ambassador on the issue of nuclear weapons on the Korean Peninsula. Ning was deputy director of the Department of Asian Affairs of the Foreign Ministry from July 1995 to April 2000. Beijing hosted the first round of six-party talks on […]
China's only producer of alumina, Chalco, raised prices a further 12.1% in mid-December, putting pressure on the country's aluminum smelters who already face widespread power shortages. The price rise for the raw material used to make aluminum was the seventh increase in 2003, pushing the price 94.7% higher than that at the end of 2002. […]