US telecommunications giant AT&T will move its Greater China headquarters from Hong Kong to Shanghai to break into the growing telecommunications market in the Mainland. The move will not lead to job losses at the Hong Kong office, an AT&T spokesman said. AT&T, a current partner in mainland telecom joint venture Shanghai Symphony, signed leasing […]
Category: Economics & Trade
The European Union (EU) will block China-made trousers shipped after July 12, the Chinese Ministry of Commerce website reported on Sunday. By midnight Aug 9, the export volume of trousers made in China and exported to the EU had exceeded the maximum of 104.405m, according to new data released by the European Commission (EC). Trousers […]
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Money supply increases
China's money supply expanded in July at its fastest rate in over a year, as the central bank allowed growth to exceed its target. Foreign exchange deposits fell in comparison with the previous month, a possible sign of continued speculation on another adjustment in the currency regime. The yuan was revalued by 2% on July […]
Lafarge SA, the world's largest building materials maker, will merge its cement business with Shui On Construction and Materials (Socam) in a US$650m joint venture, creating one of the top three companies in the Mainland's booming cement market, The South China Morning Post reported. Hong Kong-based Socam chairman Vincent Lo Hong-sui said Thursday he expected […]
China's monthly trade surplus in July widened to its highest level so far this year and inflation quickened more than expected last month, according to media reports. The trade surplus in July hit US$10.4bn, its widest level this year and more than five times the US$2.03bn surplus recorded in the year-earlier period. For the first […]