China Economic ReviewAudi announced it was reducing the prices of all of its China-made cars by up to 15% for the rest of this year to boost sales. The German luxury car maker, part of the Volkswagen AG group, is the latest brand to follow the price-cutting trend as manufacturers battle declining sales growth. A senior executive […]
Air China and China Eastern signed deals to buy 26 Airbus aircraft between them. The order came during the state visit to China by French President Jacques Chirac. Under the deal, Air China will buy six A319s, for use between high-altitude airports in Sichuan and Tibet. China Eastern ordered its 20 300-seat A330-300 aircraft to […]
Sinochem Corp, China's fourth largest state-owned oil company, signed a joint venture deal with France's TotalFinaElf to market oil products in northern China. According to the agreement, Sinopec and Total will invest US$108.8 million in the JV with Sinochem holding a 51% stake. Subject to central government approval, the venture is expected to build 200 […]
French heavy engineering firm Alstom signed contracts worth up to US$1.3 billion for the delivery of trains to China, part of a raft of business deals signed during French President Jaques Chirac's state visit to China. The company also signed a letter of intent to sell nearly US$447 million worth of hydroelectric turbines and pumping […]
China's rising consumer prices show signs of slowing and prices should further ease in the final quarter of 2004, the central government said. The National Development and Reform Commission said easing inflation came on the back of stabilizing grain prices and a glut of domestic products. In August, inflation hit a seven-year high of 5.3% […]