Hong Kong conglomerate CITIC Pacific announced plans for its first mainland leisure and tourism project, investing in a resort and high-end property development on the island of Hainan. No details were given of the value of the investment although state media said it was a multi-billion yuan project. The resort will be located in the […]
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FDI up 53% in October
China's inflow of foreign investment in October grew by 53%, taking the total for the first 10 months above that for the whole of 2003, official figures showed. Actual foreign direct investment (FDI) reached US$53.781bn to October, up 23.47% year-on-year, according to the Ministry of Commerce. Contracted direct investment, an indicator of future trends, increased […]
One of Beijing's top policymakers on Taiwan has warned that relations with the island will face a "severe test" and conflict may be "unavoidable". In an interview with Reuters, Wang Zaixi, vice-minister of the Taiwan Affairs Office, described moves by Taiwan President Chen Shui-bian to declare the island a sovereign state as "extremely dangerous behavior […]
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Car sales, output slump in October
Car sales and production both slumped in October after two months of consecutive growth, figures from the China Association of Automobile Manufacturers showed. In total China's car industry produced 374,300 units in October and sold 404,700 units, a drop of 14.47% and 7.83% respectively from September. The fall came after figures for September showed a […]
Shenzhen-based Huawei Technologies, China's largest telecoms equipment provider, announced it had won contracts worth US$442m to supply products to Kenya, Zimbabwe and Nigeria. The company beat other rivals including Motorola, Ericsson and Nokia to win the contracts providing mobile handsets, optical transmission equipment, switches and routers. The bulk of the orders is for Zimbabwe, with […]