China plans to build one of the world's highest airports in Tibet at 14,300 feet above sea level, state media reported. The airport in Ngari prefecture near Tibet's border with Kashmir will be only the third in the Himalayan region once it is built, the report said, citing Yan Shijin, deputy director of Tibet's development […]
Category: Economics & Trade
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Fixed-asset investment up 27.7%
China's fixed-asset investments grew 27.7% in July from one year earlier, faster than the expected 25.4% rise, but slower than June's 28.8% gain, the Wall Street Journal reported, citing the National Bureau of Statistics. The January-July urban fixed-asset investment was up 27.2% year on year to US$427.26bn, despite government measures to cool the economy. Separately, […]
China and the United States started a round of two-day trade talks on Tuesday in San Francisco centered on US quotas imposed in May on seven categories of Chinese imports. Talks in June and July failed to produce any conclusive results. Meanwhile, in Europe, several EU nations, including Germany, Sweden, Denmark and The Netherlands, are […]
Taking advantage of China's huge demand for fuels and chemicals, Shenhua Group, China's biggest coal miner, and Hong Kong-based Kerry Group will spend US$1.85bn to build a plant in Inner Mongolia that turns coal into methanol, Bloomberg reported. The provincial government has approved the plan and is studying the possibility of building a pipeline to […]
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Ansteel and Bensteel merge
In one of the steel industry's first moves toward planned consolidation, two of China's ten biggest steelmakers, Anshan Iron & Steel Group (Ansteel) and Benxi Steel (Bensteel), will be merged to form Anben Steel Group Company, a giant with an annual output of 20m tons, state media reported. Less than a month ago the National […]