China Economic ReviewBP China is selling bottled liquefied petroleum gas in Shanghai after merging its BP LPG China unit with Waisihot Gas, a Shanghai-Hong Kong joint venture, and local company Baocheng Gas, state media reported. BP will be able to supply between 35,000 and 40,000 tons of bottled LPG annually. State media quoted BP LPG China's president, […]
An economist at China's State Information Center has said that if the international price of oil rises by US$15 this year, then it will cost China an extra US$15 billion, state media reported. Niu Li said that since China has the world's biggest trade deficit in oil export and import, the global oil price has […]
China will provide US$10 billion in aid for heavily indebted poor countries (HIPCs), state media reported. President Hu Jintao delivered a speech at the United Nations entitled "Promote Universal Development to Achieve Common Prosperity", in which he outlined China's aid package. Hu said that China would also accord zero tariff treatment to the 39 least […]
The Nasdaq-listed stock of Chinese search engine Baidu.com plunged 28% Wednesday, after two research firms, Goldman Sachs and Piper Jaffray, rated the company's shares at "underperform". The two banks, both of which were among lead underwriters for Baidu's IPO, said they were bullish about the stock, but could not justify the current price which has […]
China's value-added industrial output grew 16% in August from one year earlier marking a negligible shift from a 16.1% rise in July and slightly larger gain than August's expected 15.7% rate of growth, according to the National Bureau of Statistics. Industrial output rose 16.3% in the first eight months of the year driven by both […]