China Economic ReviewJapan's Ministry of Economy, Trade and Industry (METI) criticized China's trade practices in its annual trade report. Of Japan's top 15 trade problems with the US, EU, China and the Association of Southeast Asian Nations, problems with China accounted for seven. The report's criticisms of China focused on legal issues, taxes on semiconductor imports, lack […]
China Defense Minister Cao Gangchuan and Indian counterpart George Fernandes met for talks in India, pledging to increase exchanges between the two countries' armed forces. Cao met with the chiefs of India's armed forces during a five-day visit, which was the first diplomatic mission to India by a Chinese defense minister since 1994. Both China […]
Volvo announced it formed a US$105 million engine joint venture with China National Heavy Truck Corporation and First Automobile Works. Sweden-based Volvo will hold a 52% stake in the venture's production facility and Chinese partners will each hold 24% stakes. The new plant is scheduled to produce 50,000 engines annually by 2010. Information about location […]
Toyota announced it formed a US$152 million car engine joint venture with First Automotive Works. The 50:50 venture, FAW Toyota Changchun Engine, will be based in Changchun, Jilin Province. Toyota said the joint venture will produce 3.0-liter V6 gasoline engines at an annual rate of 130,000 units. Production will begin in 2005, when a total […]
Credit Suisse First Boston, Deutsche Bank, HSBC and JP Morgan applied for licenses to trade derivatives on behalf of local Chinese companies and investors, according to the Financial Times. The four overseas banks have mainland China branches, giving them priority in entering the derivatives business. Other overseas banks with mainland braches and local Chinese banks […]