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BizChina

Sinopec suspends diesel exports amid domestic market shortage

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By David Cao
David Cao
21 November 2010
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China Petroleum and Chemical Corporation (Sinopec), China's largest oil refiner, said Friday it has suspended diesel exports to relieve shortages in the domestic market.

Sinopec also said it is seeking to import 200,000 tons of diesel.

PetroChina Co, China's largest oil producer, plans to import 200,000 tons of diesel. Some 35,000 tons of it has already arrived.

Insiders said China's diesel output in the first nine months soared, prompting the two oil giants to expand exports.

Sinopec attributed recent hikes in the domestic price of diesel to hoarding, seasonal factors, transport factors and energy-saving measures.

Read more: Sinopec suspends diesel exports amid domestic market shortage

China's welfare lottery sales grow 26% to 80b yuan

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By David Cao
David Cao
21 November 2010
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chinese lotterySales of Chinese welfare lottery tickets this year have set a record.

According to the Welfare Lottery Distribution and Management Center (WLDMC), sales of the tickets until November 9 increased 26 percent year on year to 80 billion yuan ($11.9 billion).

Computerized sales rose 11.3 percent year on year to 60.7 billion yuan while spot sales grew nearly 50 percent year on year to 11.6 billion yuan.

Online sales totaled nearly 7.7 billion yuan.

Read more: China's welfare lottery sales grow 26% to 80b yuan

Beijing youth swarm in apple store for iPhone 4

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By David Cao
David Cao
18 November 2010
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Chinese Iphone

Minor scuffles erupted outside Apple's flagship store in Beijing during the weekend as thousands of customers lined up to purchase the hotly anticipated iPhone 4.

Some would-be buyers waited all night for the chance to buy the equipment and a few anxious people lost their cool, causing police to be called to the store in Sanlitun Village.

It was the first time that the fourth version of the popular handset has been officially available on the Chinese mainland.

A number of people camped overnight while others waited in line for hours in order to be among the first in China to buy the phone, which went on sale in the capital on Saturday. Lines wrapped around the Apple store and filled much of the popular shopping plaza.

Read more: Beijing youth swarm in apple store for iPhone 4

China steel output rose 2% in early November

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By David Cao
David Cao
18 November 2010
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China's massive steel sector produced 2 percent more crude steel in the first 10 days of November than in late October, data from the China Iron & Steel Association (CISA) showed on Thursday.

The country's average daily crude steel output stood at 1.601 million tons in the first 10 days of November, up from 1.564 million tons per day in the last 11 days of October.

The association's member producers, about 77 medium- and large-sized steel mills, produced 1.333 million tons each day during the November 10-day period, little-changed from late October.

CISA earlier expected the country's steel production to stay at low levels in November and December.

Read more: China steel output rose 2% in early November

Domestic Huawei sets sights on top spot

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By David Cao
David Cao
18 November 2010
Hits: 1570

China Huawei

Huawei Technologies Co, China's biggest telecommunications-equipment maker, forecast it will beat Ericsson AB to become the top producer of gear for the next generation of mobile-phone networks.

"We have confidence we are better than others, we are better than number two," Ying Weimin, president of closely held Huawei's business devoted to the fourth-generation wireless technology known as long-term evolution (LTE), said in an interview in Hong Kong on Tuesday. "Globally, we believe we have the best market position."

The comments underscore growing confidence among Chinese equipment makers challenging Ericsson and Nokia Siemens Networks in the $38 billion market for phone gear such as routers and switches. Huawei and Shenzhen-based ZTE Corp are set to capture half of industry orders in five years, compared with about 30 percent now, because they've caught up with Western rivals in terms of technology, said Jim Tang, an analyst at Shanghai-based Shenyin Wanguo Securities Co.

Read more: Domestic Huawei sets sights on top spot

More Articles …

  1. China's gold consumption set to rise by 4%
  2. China Mobile Helps iPhone Users Reject Rival
  3. China Unicom Launches ‘WoStore’
  4. The Priest and the Businessman - Li Ka-shing
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Page 50 of 126

Banking

  • China's Gold VAT trade reform aims to tax free for investment
  • China's digital RMB transactions top 14.2 trillion yuan
  • Renminbi asset appeal spurs dim sum bond market
  • UnionPay International Expands European Footprint with Strategic Partnerships and Enhanced Payment Network
  • China T-bond move seen safeguarding financial stability

Real Estate

  • 21 Chinese cities tighten Real Estate Policy
  • LANZHOU NEW AREA new ghost town in China
  • Chinese invest $110 billion in US real estate
  • China's listed real estate companies post $461b of inventories for 2015
  • Beijing eases restrictions on foreigners buying apartments

Society

  • Chinese Scientists Detect First Radio Pulses from 'Radio-Silent' Dead Star
  • China NIA: Average daily inbound and outbound passenger volume to increase 14.1% during Chinese New Year
  • China U23 team's historic breakthrough
  • China's New railway timetable enhanced connectivity nationwide
  • Yiwu's Factory flaw “sad horse" toys go viral on Chinese Internet

Manufacturing

  • China to Build Seamless Asteroid Monitoring Network Covering Solar Blind Spots
  • Solar thermal power station in Jilin sets pace for cold climates
  • China-made C919 transports 5 million passengers in past 3 years
  • China's large drone FP-985 completes pioneering plateau logistics flight
  • China's NEV output tops 16 million units as exports double

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