China Economic ReviewNingbo Bird, China's largest domestic manufacturer of mobile phones, is expecting to export 20 million handsets, or 10% of total sales, in 2004. The company said it shipped 12 million units in 2003 and hopes that exports will rise to 30% of total sales by 2006. Along with domestic rivals such as TCL Mobile Communications […]
Dutch firm ING Group's mainland fund JV and two domestic fund managers won regulatory approval to launch China's first money-market funds. The approvals expand the narrow range of low-risk fund products available to Chinese investors and signal an improvement in co-ordination between the country's securities and banking regulators, analysts said. With stock indices that have […]
France's L'Oreal, the world's largest cosmetics company, said it would acquire Chinese skincare firm Mininurse to expand its distribution in China. The terms of the deal were not disclosed. Mininurse, with forecast sales of RMB 402.5 million (US$48.6 million) in 2003, is distributed in 280,000 outlets across China and also has a manufacturing facility in […]
China lifted import quotas for State-traded oil products as well as rubber, tires and auto parts as part of its commitment to the World Trade Organization. The government will continue to impose internal controls over imported oil products in order to �retain market order�. China's oil product imports soared 49% year-on-year to 24 million tons […]
China's crude oil imports will increase from 31% of the country's total consumption in 2002 to 50% by 2007, the Ministry of Communications said. Imports will reach 100 million tons of crude in 2005, 150 million tons in 2010 and 250 to 300 million by 2020 with China poised right now to become the world's […]