China Economic ReviewThe China Non-Ferrous Metal Industry Association said aluminum ouput will fall this year due to rising raw material and energy costs and unfavorable government policies aimed at controlling aluminum exports. China removed an 8% tax rebate for producers earlier this year and reintroduced a 5% tariff on aluminum exports.
Sinopec's Sinopec Yizheng Chemical Fiber unit, the world's no 4 polyester producer, said it will double production of purified terephthalic acid (PTA), a crude-oil derivative used in polyester making. Officials said the company would allocate RMB3.81bn to build the new 1m-tonne capacity plant, aiming to see it in operation in 2007.
Singapore Senior Minister Lee Kuan Yew, the republic's first premier and father of Lee Hsien Loong, the current prime minister, told a Citibank conference in Hong Kong that Hong Kong should not make "unrealistic political demands" on Beijing, according to the South China Morning Post. In comments made after the meeting, Lee said the territory's […]
In a bid for global expansion, Chinese auto makers are working with European and US importers to sell in the West countries as early as this year, the Wall Street Journal reported. While Chinese cars are not widely available for sale in Europe, in recent years, they have appeared in Russia, one of Europe's fastest […]
Worried the soaring home prices may spark social unrest, China's State Council told officials at all levels in a published circular they are responsible for keeping China's property market from overheating in the interest of "financial safety and social stability," the Wall Street Journal reported. Issued at a time when Beijing is concerned about China's […]