China will suspend its export tax rebate on gasoline between Sept 1 to Dec 31 in a bid to ward off domestic shortages by making it more expensive to ship petroleum products overseas, according to media reports. Petroleum product exports have been growing this year because ceilings on state-set pump prices have led to deepening […]
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Hu's N America itinerary
Chinese President Hu Jintao is due to arrive in the US September 5th, beginning a two-week trip that includes stops in Canada, in Mexico and at the United Nations. In his first state visit to the US since taking office in 2003, Hu is expected to quell US concerns about China's rising military and economic […]
Baidu's China market share has gained 10.8 percentage points, undercutting the dominance of Google, which now owns only 33% of the market to Baidu's 52%, the AP reported, citing a survey by Chinese Internet research group, China Internet Network Information Center. Six months ago, the survey found Google owned the biggest share among China's top […]
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BoC chooses bankers
Citing "close long-term association", Bank of China announced yesterday its multi-billion-dollar IPO would be handled by Goldman Sachs, UBS and Bank of China International, BoC's investment banking arm. The decision comes as a blow to Merrill Lynch, which announced earlier plans to participate in a consortium that would buy a 10% stake in the Chinese […]
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UAL hires Ameco for maintenance
In a bid to deepen its ties with China which it views as a key growth market, United Airlines said Chinese company Ameco, a joint venture between Air China and Germany's Lufthansa Technik, would perform heavy maintenance on some of its jumbo jets, the Financial Times reported. The deal would also help the second biggest […]