China said its trade surplus with the US grew to about US$53.2 billion in the first 11 months of last year – less than half the size of the gap predicted by Washington. US officials said the American trade deficit with China is expected to surpass US$120 billion for 2003. The American figures include Chinese […]
Category:
Warner Brothers signed a framework agreement with Guangzhou Performance to build between eight and 10 cinemas in southern China over the next few years. Warner Brothers was expected to invest between RMB 20-30 million in each cinema and would probably retain a controlling stake in the ventures, Guangdong Performance said. The deal follows one in […]
Categories
Foreign carmakers post record sales
German carmaker Volkswagen saw sales from its two main Chinese JVs rise about 40% in 2003 to more than 694,000 vehicles, exceeding its full-year sales target by nearly 100,000 cars. Volkswagen, with about a 33% share of the Chinese market, expects to roll out 1.6 million vehicles in China annually in four years' time after […]
Categories
Sinopec expects high demand
China's largest oil refiner, Sinopec, is expected to operate at more than 90% of capacity this year at its 25 refineries after a 27% increase in the number of vehicles sold last year in China. Sinopec processed 4.57% more crude oil than its target last year, as a surge in demand in the second half […]
Categories
China confirms single SARS case
A 32-year-old television producer in Guangzhou has become the first confirmed SARS patient in China since the epidemic ended last June. No other suspected or confirmed SARS cases have been reported on the mainland, Taiwan, Hong Kong or Macao and the confirmed patient appears to be on his way to recovery, China's Ministry of Health […]