China Economic ReviewLatest government data showed producer prices increased at their fastest rate in the 12 months to June. Prices of goods leaving the factory were 6.4% higher last month than a year earlier. In May, prices were 5.7% higher than in May 2003. Despite the acceleration, analysts said inflationary pressures were easing. Shanghai Securities News said […]
Aiming to raise US$1.5 billion, state-owned China Netcom could file any moment with the US and Hong Kong regulators for a public offering, sources close to the company said. On this basis, its shares could be trading in September, the source said. Netcom needs money to upgrade networks and keep pace with fixed-line competitor China […]
Responding to China's soaring demand for oil imports, China Ocean Shipping (COSCO) and other ship owners have been working to expand China's tanker fleet by more than a third, according to a Bloomberg News survey. COSCO, China Shipping Group and China National Foreign Trade Transportation Group have so far acquired 10 tankers with a cumulative […]
Work was suspended on Shanghai's Universal Studios theme park after a central government inspection team reviewed development plans. Work on a Yangtze River tunnel linking the city with a park on Chongming Island was also suspended, a Shanghai transport official said told state media. Plans to build new subway lines were also put on hold. […]
The US-Taiwan Business Council said Taiwan's semiconductor industry will benefit from China's agreement with the US to eliminate preferential tax rebates on domestic semiconductor production. China had been rebating 17% value-added tax for locally made chip products, which the US contended broke WTO rules. The scheme ends next April, eliminating a key reason for foreign […]