In a move to overhaul China's fragmented cable television industry, the mainland's media regulator SARFT and the Ministry of Information Industries (MII) will cooperate to form a new nationwide cable TV network that plans to broadcast digitally by 2008, the AP reported, quoting an MII official.
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In lockstep with the rising crude oil prices, China is raising its retail benchmark rate for gasoline by about 7% for the first time since August, state media reported, citing the National Development and Reform Commission. Industry officials said they expect the hike to raise state refiners' margins while demand continues unabated. Diesel fuel prices […]
Following moves by the European Commission to impose five-year tariffs of up to 49.7% on Chinese polyester imports, Chinese textile producers petitioned Beijing to take the EU anti-dumping ruling to the World Trade Organization. If the petition is approved, it would be the first case independently filed by China to the WTO.
After months of negotiations, ING Group, in partnership with the World Bank investment arm International Finance Corp, will acquire a RMB1.5bn 25% stake in the Bank of Beijing, the South China Morning Post reported, citing sources close to the mainland bank. The first investment in China by Amsterdam-based ING will give it a 20% stake […]
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Intel plans factory in China
Intel Corp said it plans to invest up to US$450m to build a test and assembly plant in Chengdu in Sichuan province, the Wall Street Journal reported. Intel is already building one Chengdu plant which is expected to begin production mid-2005. Construction on the second one is expected to begin later this year, with production […]