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China News 03/2013 (Page 8)



Sinopec Joins China Peers in Posting Lower Full-Year Profits
China Petroleum & Chemical Corp. (386), Asia's biggest refiner, joined PetroChina Co. in posting lower 2012 profits, as the nation's largest energy companies look to overseas growth to counter the impact of price controls at home. Net income at China ...

Hurting at home, China's Li Ning courts U.S. glitz
HONG KONG/SHANGHAI, March 24 (Reuters) - China's biggest sportswear brand, Li Ning Co Ltd, launched its newest brand at a gala event in Texas last month with U.S. basketball star Dwayne Wade, resplendent in gold bow tie and plaid suit, showing off ...

Top China college in focus with ties to army's cyber-spying unit
SHANGHAI (Reuters) - Faculty members at a top Chinese university have collaborated for years on technical research papers with a People's Liberation Army (PLA) unit accused of being at the heart of China's alleged cyber-war against Western commercial ...

China Construction Bank Quarterly Net Rises 16%
China Construction Bank Corp. (939), the world's second-largest lender by market value, posted better- than-expected growth in fourth-quarter profit as higher lending income outweighed an increase in bad loan charges. Quarterly net income rose 16 ...

Peng Liyuan, China's First Lady, Becomes International Star After Russia Visit ...
Peng Liyuan, China's First Lady, Becomes International Star After Russia Visit ...

Suntech Collapse Stokes Solar Volatility: China Overnight
Solar stocks, the most volatile Chinese equities in New York, will extend declines as Suntech Power Holdings Co. (STP)'s bankruptcy stokes concern they are over- leveraged, according to Gamco Investors Inc. (GBL). Four of the five stocks with the ...

Chinese Utilities Face $20 Billion Costs Due to Water, BNEF Says
Tomohiro Ohsumi/Bloomberg. Huaneng Power International Inc.'s Gaobeidian thermal power station stands behind power lines in Beijing. China's five largest power utilities are heavily exposed to water supply disruptions and face costs of as much as $20 ...

China Thermal Coal Supplies Rise to 32-Week High as Price Slides
Power-station coal stockpiles at China's largest port for the fuel rose to the highest level in 32 weeks as prices slid to a three-year low. Inventories of coal with an energy value of 5,500 kilocalories per kilogram at the port of Qinhuangdao climbed ...

Warhol's Mao Works Censored in China
Mao Zedong's face has long graced trinkets and kitsch sold at tourist markets across China. But in the country's top art museums, his most famous portrayal by a Westerner isn't welcome. Sorry, Andy Warhol. Although the scion of Pop Art passed away in ...

China's Gome Posts Annual Loss Amid Online Business Expansion
Gome Electrical Appliances Holding Ltd. (493), China's second-largest electronics retailer, posted a narrower-than-estimated loss last year as it shuttered some of its less profitable stores and curbed expenses. The company had a net loss of 596.6 ...

Longyuan's Profit Growth Slows as Power Demand Moderates
China Longyuan Power Group Corp. (916), the nation's biggest wind-farm developer, reported a slowdown in earnings growth as domestic electricity demand rose at a slower pace. Net income rose 0.6 percent to 2.59 billion yuan ($417 million) in the 12 ...

Warhol's Mao Works Censored in China
Hong Kong Museum of Art: Eight of Andy Warhol's Mao artworks on display at the Hong Kong Museum of Art. The far-left print belongs to the museum's permanent collection. More In Art. Top China Stories from WSJ: No. 2 Box Office, Tax-Free Art, BYD Cabs ...

Seizing the Opportunities of Global Urbanization: The New Frontier in America ...
Seizing the Opportunities of Global Urbanization: The New Frontier in America ...

Bomb Found Inside Squid Off Chinese Shore
In the shallow waters just off the coast of the Guangdong province in China, a fisherman caught a bloated looking squid and took it to the fish market in Jiaoling County. Only after the fish was slaughtered at the market, was it revealed that there was ...

Beijing Takes Another Bite at Apple
BEIJING—The Chinese Communist Party's main propaganda outlet assailed Apple Inc.'s customer-service practices, the latest indication that China might move to check foreign companies' domination of the country's smartphone market. The People's Daily ...

In China, First Lady's Fashion a Sensitive Topic
The triumphant unveiling on an international stage of Peng Liyuan, the wife of new Chinese president Xi Jinping, has sent the country's Internet users into a frenzy of enthusiasm over her graceful manner and well-chosen outfits. It has also spurred the ...

Sinopec Seeks More Assets From Parent Following $3 Billion Deal
China Petroleum & Chemical Corp. (386), Asia's biggest refiner, expects more asset deals with its parent after creating a $3 billion joint venture to replace dwindling reserves with oilfields in Kazakhstan, Colombia and Russia. “We will continue to ...

Hanlong Faces Deadline Today for $1.19 Billion Sundance Iron Bid
The missing billionaire chairman of Sichuan Hanlong Group faces a deadline today to move ahead with a $1.19 billion takeover of Australia's Sundance Resources Ltd. (SDL) amid reports he may be in police custody. The closely held Chinese company must ...

Ambow Buyout Bid Scrapped as Solars Fall: China Overnight
Chinese stocks listed in New York fell, led by solar companies, while trading in Ambow Education Holding Ltd. (AMBO) was suspended for a second day as a buyout offer for the education provider was withdrawn. The Bloomberg China-US Equity Index ...

Baidu Wins Dismissal of U.S. Political Censorship Lawsuit
Baidu Inc. (BIDU), owner of China's most popular search engine, won dismissal of a U.S. lawsuit by Chinese-Americans alleging the company censored articles on the pro-democracy movement in China. U.S. District Judge Jesse Furman in Manhattan ...

China Miner May Seek Toronto Potash Listing
HONG KONG—Chinese miner Yanzhou Coal Mining Co. is considering listing its Canada potash assets in Toronto and plans to invest heavily to increase output from its Australian coal mines. "We need capital for the development of the [Canada] project, and ...

Jewellers set to shine in China's troubled retail sector
Tue Mar 26, 2013 6:44am EDT. * Retail sector hit by weak 2012 economic growth, huge inventories. * Popular jewellery chains not burdened by excessive stocks. * Apparel, appliances and footwear unlikely to see turnaround soon. By Donny Kwok ...

Move by pro-China businessman to acquire influential Taiwan media company ...
Move by pro-China businessman to acquire influential Taiwan media company ...

China's Gome Posts Narrower-Than-Estimated Loss
Gome Electrical Appliances Holding Ltd. (493), China's second-largest electronics retailer, posted a narrower-than-estimated loss last year as it shuttered some of its less profitable stores and curbed expenses. The company had a net loss of 596.6 ...

China's New-Style First Lady and Old-Style Fears
Peng Liyuan, the wife of Chinese President Xi Jinping, waving on arrival at the Yuri Kochetkov/European Pressphoto Agency Peng Liyuan, the wife of Chinese President Xi Jinping, waving on arrival at the airport in Moscow. BEIJING — When Peng Liyuan, ...

Sale of Jimmy Lai's Taiwan Newspapers Falls Through
A group of Taiwanese buyers dropped plans to purchase newspapers on the island from Hong Kong publishing magnate Jimmy Lai, significantly paring back a nearly US$600 million deal that drew political scrutiny and put a spotlight on growing economic ...

Nescafe promising more "gusto" after 75 years
Tue Mar 26, 2013 10:59am EDT. * Brand has 72 percent of China market. * Huge potential as China's tea drinkers discover coffee. * Nescafe ranked no.35 global brand worth $11 bln. * Dolce Gusto brand seen breaking even soon. By Silke Koltrowitz and ...

1000 Dead Ducks Found In China's Nanhe River; Pig Carcass Count Continues ...
1000 Dead Ducks Found In China's Nanhe River; Pig Carcass Count Continues ...

UPDATE 3-Emerging powers China, Brazil move towards non-dollar trade
Tue Mar 26, 2013 11:59am EDT. * Agreement to trade in own currencies up to $30 bln a year. * Two BRICS members move to change global trade flows. * BRICS summit expected to boost development bank plan. * Leaders of BRICS will also focus on ties ...

Air China, China Southern Profits Fall on Currency, Fuel Costs
China's three biggest airlines reported a second straight decline in annual profits as they struggled with currency fluctuations and fuel costs amid a slower economic growth. Air China Ltd. (753), Asia's biggest carrier by market value, said yesterday ...


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