China Economic ReviewSpeculation over a yuan revaluation continued to mount as state media reported a surge in yen trading forcing the currency up to a two-month high against the euro and a one-month high against the dollar. Buying Japanese money is a proxy bet on a near-term move by China, China Daily said, noting that investors have […]
China Southern Airlines confirmed it will buy five A-380 double-decker planes to be delivered between 2007 and 2010. Surprising no one, it said it would pay less than the list price of US$272.6m but would not say what it was paying. The aircraft are part of a US$3.2bn Airbus Industrie order of 30 planes for […]
China's economic growth will slow over the next 18 months as fixed asset investment falls, a report by the UN's Economic and Social Commission for Asia and the Pacific says. It projects GDP to grow 8.5% this year as against 2004's 9.5%, and slow to 7.8% next year.
ThyssenKrupp Automotive, a unit of the German steel giant, said China will supply 10% of vehicle parts sold by 2010, up from 1% now, according to a Reuters report. The company makes springs, crankshafts, chassis and other parts. “If you assume �8bn in sales of automotive, that's �800 million in 2010,'' a Thyssen executive said.
The South China Morning Post reported that China, though dense with the requisite IT infrastructure in some cities, is slow to adopt grid computing, a resource pooling concept championed by Oracle, IBM and other top vendors. Based on utility charge schemes where users pay for what they use rather than own masses of IT plant […]