China Economic ReviewAustralia-based Publishing & Broadcasting, owned by casino and TV magnate Kerry Packer, announced it had teamed up with Macau casino operator Stanley Ho to jointly develop business in mainland China and elsewhere in Asia. As part of the deal, Publishing & Broadcasting is to pay US$163 million for a 28% stake in Ho's latest Macao […]
The mayor of Beijing said he was considering moving one of the capital's biggest polluters out of the city despite the huge cost of the project, estimated at some US$4.8bn. The Shougan iron and steel plant, also known as Capital Iron and Steel, is located in an industrial area west of the city and is […]
Chinese nationals moving overseas will soon be allowed to take their financial assets with them under new regulations issued by the People's Bank of China (PBOC), state media reported. The central bank said new laws allowing the transfer of personal funds would take effect in December. In a statement the PBOC said the relaxation of […]
Shenhua Group, China's largest coal producer, announced plans to raise US$2.4bn in IPOs on the Shanghai and Hong Kong exchanges. The dual listing is expected to take place in 2005, although no specific date has yet been announced. The cash raised will be used to fund expansion at its existing coal mines, ports and power […]
Energy shortages experienced in the summer could return with a bitter chill this winter after authorities warned that many cities face a shortfall in heating fuel. At present Beijing has only 50% of the coal it needs for the winter, while Jilin has stores of 40%, half the level of this time last year, the […]