China Economic ReviewChina's fuel imports increased 69% in the first four months of 2004 compared to the same period last year, according to China's largest refiner. China Petroleum and Chemical Corporation said total oil consumption could exceed 300 million tons in 2004, 120 million tons of that imported. The company said power utilities were driving increased demand, […]
China Southern Airlines took delivery of two 50-seater ERJ-145 passenger planes made by Brazil-China joint venture Harbin Embraer Aircraft Industry. The carrier ordered six ERJ-145s in February for US$21.3 million each. The balance of the order will be delivered by yearend. The JV is between Hong Kong-listed AviChina Industry & Technology and Brazil's Empresa Brasileira […]
China Motor Corp, a private company held by an Arizona car dealer, announced plans to sell China-made cars and trucks in volume beginning later this year. Using aggressive discounting at 100 dealerships, David Shelburg is targeting annual sales of 60,000 vehicles priced at under US$10,000. Great Wall Automobile Holdings will reportedly be among China Motor […]
The European Union refused a request to grant China "Market Economy Status" (MES) saying the state remained too heavily involved in industry. In its report on the issue, the European Commission said a lack of adequate accounting, property and bankruptcy laws meant China would have to remain classified as a "transitional economy". China has been […]
China should keep its currency pegged to the US dollar in the short term, Steve Forbes, president and CEO of Forbes Inc, told a meeting in Beijing. Speaking to a gathering of the Pacific Basin Economic Council he said that a floated currency would do more harm than good to China's economy. Urging China to […]