China Economic ReviewEastern Zhejiang province attracted US$13.07 billion in contracted foreign investment in the first 11 months of 2005, up 7.7% year on year. Provincial authorities approved the establishment of foreign invested 711 enterprises valued at more than US$10 million, and accounting for 76% of total pledged foreign investment. The province also used US$5.82 billion in FDI […]
Four in five of China's private enterprises have not signed job contracts with their employees, state media reported, citing a survey by the country's top legislators. NPC Standing Committee Vice-chairwoman He Luli said the legal rights of employees were frequently violated in more than 80% of private companies, particularly in real estate, light industry, clothing […]
China will build its first airport free trade zone within the Beijing Capital International Airport, state media reported. The zone, which would allow companies to avoid formal customs entry procedures and import duties, was expected to strengthen the country's logistics competitiveness in Northeast Asia. The free trade zone, covering two square kilometers, opens in 2008, […]
Baotou Iron & Steel is in talks to sell a stake to Mittal Steel, the Wall Street Journal reported. Officials would not provide details on the size of the proposed stake. Mittal became the first foreign steelmaker to take a large stake in a major Chinese steel producer when it paid US$338 million for a […]
Philips Electronics will boost its stake in TCL by about US$25 million, raising its ownership from 2.46% to 7.46%, the Wall Street Journal reported. The announcement comes as the Shenzhen-listed television and mobile-phone maker transforms its nontradable shares into tradable form. Philips would purchase 129.3 million currently nontradable shares from TCL's largest shareholder, state-owned firm […]