China Economic ReviewThe head of Taiwan's opposition People First Party (PFP), James Soong Chu-yu, has accepted President Hu Jintao's invitation for a fence-mending visit to China, state media reported. Two weeks ago, Hu also extended a similar invitation to Lien Chan, leader of Taiwan's main opposition party KMT, whose visit is scheduled for later this month or […]
State media reported that China and Australia have signed a Memorandum of Understanding (MOU) to formally start negotiation on a free trade area (FTA) following Australia's recognition of China's full market economy status (MES), making Australia the largest developed country to grant China full MES. The MOU is seen as an important step to help […]
The Shanghai Automotive Group Company, an arm of Shanghai Automotive Industrial Corp (SAIC), and Royal Dutch/Shell announced a 50-50 joint venture known as 'Anji Jiffy' to service vehicles in China through a network of fast lube service outlets modeled on the US-based 'Jiffy Lube' chain, Agence France Presse reported. The joint venture will invest about […]
China's service stations are beginning to run low on diesel due to Beijing's March 23 decision to leave diesel prices unchanged at $1.57 a gallon while raising the retail price of gasoline by 7% to $1.66 a gallon, the New York Times reported. The diesel price, allowed to remain constant to avoid irking farmers who […]
Helped by steady productivity gains and effective cost controls, China's 170 Beijing controlled state owned enterprises (SOEs) posted a collective first quarter profit of RMB140.4bn (US$17bn), on a 31.2% year-on-year growth on sales of RMB1.4trn (US$169bn), state media reported, citing the State-owned Assets Supervision and Administration Commission (SASAC). In the first quarter, the central coal […]