China's four largest shipping lines, including China Ocean Shipping, are expanding their oil tanker fleets, Bloomberg reported. Together, their plans call for building or buying 18 tankers, each with a capacity of 2m barrels, by 2008. China's demand for imported oil has been skyrocketing but is expected to moderate to 6.3% growth this year. Rising […]
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In a move to protect consumers and impose order in the auto market, Beijing is now requiring automobile dealerships to be authorized by an automaker, or by a licensed general distributor beginning April 1, according to state media. China's auto dealers will have a six-month period to become authorized. Conversely, auto firms or their general […]
A recent poll shows that while around two thirds of Chinese have a favorable opinion of Americans, nearly 57% believe Washington wants to limit China's influence. The survey by the Global Times newspaper and the Institute of American Studies of the Chinese Academy of Social Sciences found nearly 75% of those polled say they feel […]
Minsk World Industries Co, the operator of a south China theme park aboard the retired Soviet aircraft carrier Minsk, has been declared bankrupt in a Shenzhen court with debts totaling US$105m, state media reported. Minsk World Industries Co was founded by D'Long International Strategic Investment Co, recently taken over by the government.
Beijing released tentative rules allowing foreign interests to issue renminbi bonds in China, state media reported. The move is seen as an effort to promote the convertibility of the yuan by leveraging the financial muscles of global institutions in developing the domestic bond market. Institutions that have more than US$1bn in loans and equity investment […]