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China News 06/2012 (Page 5)



China loans rise could show govt steps gain traction
* Inflation, industrial output lower than expected * Exports, imports and bank loans stronger than forecast * Loans pick up could relate to infrastructure projects * Domestic weakness explains Beijing rate cuts * Government to keep policy geared to ...

Baoshan Steel Cuts Prices as Demand Wanes for Cars, Appliances
Baoshan Iron & Steel Co. (600019), China's biggest publicly traded steelmaker, lowered prices as demand from makers of appliances and cars slowed. Prices were cut by as much as 400 yuan ($63) a metric ton for July delivery, the Shanghai-based company ...

METALS-Copper rises on Spain aid, China import data
* Spain gets 100 bln-euro package for its banks * China's copper imports post surprise rise in May * Greek elections, euro zone contagion worries cap gains By Maytaal Angel and Harpreet Bhal LONDON, June 11 (Reuters) - Copper rose on Monday after Spain ...

Thomson Reuters Launches Bespoke Eikon Desktop for China
Chinese-language version of Eikon provides tailored Chinese functionality and content to help facilitate the growth of China's financial markets BEIJING, LONDON, 11 June 2012 - Thomson Reuters today launched a bespoke version of its next-generation ...

Baltic index up on panamax activity
By NR Sethuraman June 11 (Reuters) - The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry commodities, rose on Monday for the second straight day on higher panamax activity. The overall index, which reflects the daily ...

China Southern says to get 2 bln yuan cash injection
| HONG KONG, June 11 (Reuters) - China Southern Airlines , the country's top carrier by fleet size, said on Monday it would get a cash injection of up to 2 billion yuan ($314 million) fro m its state-owned parent, to help lower debt amid global ...

Again? Ferrari Struggles with 'Spin' in China
In a photograph taken on May 7, 2012 guests inspect various Ferrari cars parked beside Nanjings 600-year-old city wall after the dealer rented a gate for a showing along the state-protected cultural property encircling the former imperial capital, ...

Alibaba Discounts TVs to Woo 193 Million Chinese Online
By Mark Lee on June 11, 2012 Alibaba Group Holding Ltd. is taking a new approach to boosting sales online: paying its customers to cut their prices. China's biggest e-commerce company plans to spend 300 million yuan ($47 million) on summer promotions ...

China Swaps Rise From 19-Month Low on Europe Optimism, Exports
China's one-year interest-rate swaps rebounded from their lowest levels in 19 months after Europe made progress in tackling its debt crisis and local data showed exports beat estimates. Yuan-denominated government bonds fell after Spain asked ...

Goldman names new Asia Pac chair, based in Beijing
By Lawrence White | HONG KONG (Reuters) - Goldman Sachs (GS.N) on Tuesday said that Mark Schwartz will take on the role of chairman of its Asia Pacific unit, based in Beijing, becoming the first global investment bank to place its top regional banker ...

A New Chinese Cuisine
The recent openings of Lotus Blue and Yunnan Kitchen—two restaurants serving food inspired by the flavors of Yunnan—have prompted New York food-scene watchers to anoint southwestern Chinese eats as an impending craze. (Previously, Yun Nan Flavor ...

Hollywood gripped by pressure system from China
When aliens besiege Earth in Universal Pictures' recent action film"Battleship,"it is the Chinese authorities in Hong Kong whom Washington credits with delivering the early proof that these invaders aren't exactly homegrown. But those aren't the only ...

Canada dismisses US concern over fake Chinese military parts
The Canadian government is ignoring US warnings that a flood of bogus military parts from China has been discovered in American-made fighter jets, transport planes, missiles and other weapons, potentially putting the lives of Armed Forces personnel at ...

Sovereign reserve managers may give euro a miss
By Neal Kimberley | LONDON (Reuters) - Once bitten, twice shy Asian central bank reserve managers could steer clear of adding even more euros to reserves as the euro zone crisis lumbers on. China, with the world's largest foreign exchange reserves of ...

Godiva to Double Number of Stores in Chinese Market
By Dermot Doherty on June 12, 2012 Godiva, a maker of luxury Belgian chocolate, plans to double its boutique network in China in 2012 as consumers there develop a taste for fine cocoa. The 86-year-old chocolatier is set to open about 15 shops in the ...

NY cotton sinks after USDA raises world ending stocks
* USDA raises world 2012/13 stocks to 74.51 mln bales * Increase caused by rise in Chinese beginning stocks (Adds material from USDA report and implications of rising stocks) June 12 (Reuters) - Cotton futures declined Tuesday on speculative sales ...

110 new soldiers join China's 2200-year-old terra-cotta army
After centuries of standing guard, their shift is finally over. Fresh excavations near the tomb of China's first emperor have revealed 110 new terra-cotta warriors that have been covered up for 2200 years, archaeologists said -- adding to the army of ...

Brazil Stocks Open Higher on Brighter China Data, Continue Volatile
RIO DE JANEIRO--Brazilian stocks rose in early trading Tuesday, recovering from Monday's fall on slightly brighter Chinese data, even though global risk appetite remain subdued amid concerns over the efficacy of European efforts to solve the regional ...

HSBC Starts Yuan Bond Fund for U.S. as Dim Sum Market Expands
HSBC Holdings Plc (HSBA), Europe's biggest bank, has started a fixed income fund for US investors that will invest in bonds sold in China's currency in Hong Kong. The HSBC RMB Fixed Income Fund will buy securities denominated in the Chinese currency, ...

Bad Driving Makes More Trouble for Ferrari In China
By Laurie Burkitt Eight Ferrari drivers were caught speeding in a convoy along a public expressway in China over the weekend — one traveling as fast as 231 kilometers (132 miles) per hour — in an incident that has reignited negative publicity for the ...

Angry Bagmaker Shows China Slowdown Worst in Wenzhou
By Bloomberg News on June 12, 2012 Jiang Xiangsong has 18 days to pay a 2 million yuan ($314000) bank debt or his suitcase company in eastern China will go bankrupt. He's close to tears as he realizes his last hope, a government-backed office, ...

Hong Kong Gains Collection of Contemporary Chinese Art
HONG KONG — This city's ambitious young art scene acquired another multimillion-dollar feather in its cap on Tuesday. Uli Sigg, the world's leading collector of contemporary Chinese art, announced at a news conference that he was donating 1463 works ...

METALS-Copper steady; Spain, Greece cap gains as shares rally
SHANGHAI, June 13 (Reuters) - Copper prices steadied on Wednesday, as a rise in global equity markets offset concerns about the euro zone debt crisis, where Spanish bond yields hit a record high on Tuesday. The Greek elections over the coming weekend, ...

China property sales rise in key markets
* Property buys picking up in Hangzhou, Shenzhen, Nanjing * Regulators struggle to stifle rumours of mkt loosening SHANGHAI, June 13 (Reuters) - The number of property purchases in some major Chinese cities has picked up, as regulators struggle to ...

Worst of China Slowdown Seen in Wenzhou as Stimulus Limited
(Updates with yuan's decline in 11th paragraph.) June 13 (Bloomberg) -- Jiang Xiangsong has 18 days to pay a 2 million yuan ($314000) bank debt or his suitcase company in eastern China will go bankrupt. He's close to tears as he realizes his last hope, ...

Beijing Auto Luring Ferrari Designer for Chinese Daytona
By Bloomberg News on June 12, 2012 Leonardo Fioravanti, the designer of the Ferrari Daytona and 288 GTO, has a new job on his hands: transforming a Chinese army motorcycle maker into a global premium car brand. Beijing Automotive Group Co., ...

China Car Prices Drop Most in Almost 2 Years, Agency Says
By Bloomberg News on June 12, 2012 China passenger-vehicle prices fell the most in about two years because of a worsening glut at auto dealerships, the nation's top economic planning agency said. Average retail prices in May fell 1.1 percent from April ...

Insight: When Romney wasn't so tough on China
By Rachelle Younglai | WASHINGTON (Reuters) - Mitt Romney may be down on China and threatening to declare Beijing a currency manipulator from day one if he is elected US president, but his past dealings with the country show he was not always so ...

Study shows Chinese consumers are able to pay more, but expect more, too
SHANGHAI — Chinese consumers can afford to splash out more on higher quality products, but also expect better value for money than in the past, according to a study by the American Chamber of Commerce. China's consumer market is forecast to become the ...

Japan reportedly has evidence North Korea missile launchers came from China
TOKYO – Japan has evidence that vehicles capable of transporting and launching missiles were exported to North Korea by a Chinese company in possible violation of UN sanctions, Japanese media reported Wednesday. China called the reports inaccurate, ...


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