China Economic ReviewSemiconductor Manufacturing International Corp (SMIC) plans to build a US$175 million chip assembly plant through a joint venture with the local government in Chengdu, Sichuan province. SMIC, which has plants in Shanghai, Beijing and Tianjin, plans the investment despite recent overheating in the sector. Analysts said that the new factory was part of SMIC strategy […]
PetroChina, the mainland's no. 1 oil producer, has discovered oil and gas reserves off southern Sumatra in Indonesia. The find coincides with Amerada Hess Corp discovering oil and gas reserves off Java. Indonesia's regulatory agency said the size of the reserves had yet to be determined. Indonesia has put out the welcome mat for foreign […]
Honda Motor plans to increase production capacity at its Wuhan, Hubei province factory within the next three years. The expansion will increase the factory's total annual output to 120,000 units. The Wuhan plant is jointly owned with Dongfeng Motor Group and currently produces the CR-V sport utility vehicle. The Japan-based company plans capacity increases at […]
China National Offshore Oil Corp (CNOOC) plans to open a gas station chain in China's coastal provinces. The oil company will compete with existing chains run by PetroChina and Sinopec, which analysts said would be challenging. Beijing is pushing the three main national oil companies to set up operations in preparation for the full-scale entry […]
Overseas companies will be allowed to invest in the second phase of construction of the Shanghai Yangshan Port through joint ventures with mainland companies. The first phase of construction is planned to be finished next year, after which construction of the second phase is scheduled to begin. Shanghai government officials said during the World Shipping […]