China recorded a US$7.9 billion trade deficit in the first two months of 2004 as imports continued to surge and tax rebates on exports were cut, according to the Ministry of Commerce. Exports during the period increased 29% year-on-year, reaching US$69.9 billion. Imports jumped 42% over the same period in 2003, totaling US$77.8 billion. The […]
Category:
The Carlyle Group plans to invest US$400 million in China Pacific Life Insurance Co with an undecided partner according to US media reports. The Washington-based private equity firm with US$18 billion in investments worldwide is negotiating the deal with ING Group, the largest Netherlands financial firm and Prudential Financial, the third-biggest US insurer. The two […]
Police rounded up thousands of people who had traveled to Beijing to voice their concerns to the government during the National Peoples Congress (NPC), which started on March 5. Local activists said several thousand petitioners were herded into western Beijing's Shijingshan Gymnasium on March 1. Officials at the gym said the containment was a request […]
Categories
Canada bans Chinese Fuji apples
The Canadian Food Inspection Agency suspended the import of Fuji apples from Shandong province, China's primary apple-growing region. The suspension was in response to the multiple discoveries of butterfly pupa and spider mite, which are quarantined in Canada. Prior to the suspension, Canada had imported around 50,000 boxes of the apples this season. The suspension […]
Categories
Baosteel to supply Ford in Europe
Baoshan Iron & Steel (Baosteel) secured a sheet steel export contract with US automaker Ford's European operations. The contract will help Shanghai-based Baosteel achieve its long-term goal of acheiving a significant share of the European market. Baosteel will supply Ford with less than 5% of its Europe operations� steel requirements for 2004.