China Economic ReviewPlans by the Bank of China (BOC) to sell US$724.9 billion to US$1.1 billion of non-performing loans was delayed, partially as a result of a recent government bailout of the bank, according to a report in the South China Morning Post. The report added that the delay was also due to new regulations mandating that […]
Oil and gas producer China National Offshore Oil Corporation (CNOOC) formed a trading joint venture with refiner Sinopec Group. The move brings CNOOC into the downstream petroleum business, which is dominated by Sinopec and PetroChina. The new firm, scheduled to commence operations in May, will be permitted to import three million tons of crude annually. […]
China's industrial production growth slowed in January and February, the first such slowdown since September 2003. Analysts said the slowdown was primarily a result of the moderation of export gains and the curbing of investment in the steel, cement and aluminum sectors by the government. Production grew 17% year-on-year in the first two months of […]
An official of the Zhejiang provincial government denied media reports that a magnetic levitation (maglev) line may be built from Shanghai to Hangzhou, the province's capital. The China Daily quoted an official within the province's planning commission as saying that Zhejiang was still considering possibilities for a high-speed rail link with Shanghai and that either […]
Intel announced that it would not meet the deadline set by the Chinese government for adhering to a new standard for wireless computing, or Wi-Fi. The US chipmaker criticized the security of the proposed Chinese standard, adding that its adoption would stunt the growth of Wi-Fi. Intel said it notified clients which sell Wi-Fi products […]