Beijing Yanjing Brewery, China’s third-largest brewer, said it would lower its asking price on a planned private share placement for the second time to help persuade uneasy investors, the South China Morning Post reported. Yanjing dropped the per-share price to RMB10 (US$1.46) from the RMB17.88 (US$2.61) it was asking for in May. The company is […]
Category: Consumer
Wal-Mart has become the first retailer to recall eggs in China over fears of melamine contamination, AFP reported. Hong Kong authorities earlier said they had found traces of the chemical, which was responsible for the deaths of four infants and the hospitalization of thousands more after contaminating milk powder products, in eggs from the Hanwei […]
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Melamine found in Chinese eggs
Hong Kong testers discovered high levels of melamine in one brand of Chinese eggs, prompting Hong Kong authorities to expand their testing to include meat products imported from China, AP reported. Hong Kong testers had discovered 4.7 parts per million of melamine in eggs produced by a division of Dalian Hanwei Enterprise Group. The legal […]
Wal-Mart, the world’s biggest retailer, has raised the environmental and ethical standards it requires of its 20,000 suppliers in China, Bloomberg reported. Factories will have to cut down on energy use, carbon dioxide emissions, packaging and water usage, as well as ensuring workers are paid overtimes and treated in accordance with labor regulations. Announcing the […]
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US company recalls Chinese-made cribs
A US company has recalled cribs made in China, Taiwan and Indonesia after two babies reportedly died in them, Reuters reported. Delta Enterprises recalled about 1.6 million cribs but did not give details on the deaths. Chinese Foreign Ministry spokesman Qin Gang said he had no information on the cribs, but added that China takes […]