European aircraft manufacturer Airbus is to move its wing production and assembly base to China over the next seven to 10 years, China Daily said. Airbus China president Guy McLeod told the newspaper that trial installation in the UK of wing parts manufactured by Shenyang Aircraft Co and Xian Aircraft Co demonstrated the technical capabilities […]
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The limit on foreign ownership of Chinese airlines is being raised from 35 to 49 per cent of the company, said a senior official of the Civil Aviation Authority of China. However, the holding of any single foreign investor is still limited to 25 per cent. The new rules, which take effect on August 1, […]
China Southern has signed an agreement with the China State Postal Bureau to pay Yn150m for a 49 per cent stake in China Postal Airlines. China Postal is based in Shanghai and operates routes between Beijing, Chengdu, Guangzhou, Shenyang and Shenzhen. Part of the money will be used to buy passenger and cargo-transferable aircraft that […]
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Warner moves into Shanghai
Warner Bros, a unit of media giant AOL Time Warner, is waiting for regulatory approval to buy a stake in one of Shanghai's biggest cinemas, South China Morning Post said. The 1,490-seat, nine-screen complex in the Xijiahui shopping district has already started trial operations. The joint venture was agreed earlier this year, but the cinema […]
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Heinz adds more varieties
Heinz has bought three state-owned food companies in Guangzhou, Guangdong province, for an undisclosed amount, South China Morning Post said. The three are Guangzhou Meiweiyuan Foodstuffs, Guangdong Meiweiyuan Foodstuffs Factory and Panyu Jinmai Foodstuffs Factory, all previously owned by Guangzhou municipal government. Heinz already has two ventures in China, an infant cereal factory in Guangzhou […]