Fuyao Group Glass Industries Co<600660>, China’s biggest windshield maker, posted its 2007 net profit soared 49% year-on-year to hit RMB 917 million thanks to the increasing demand in the world’s second-largest auto market, said the company in a filing with the Shanghai Stock Exchange today.
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State-owned Sinosteel Corp, one of China’s leading raw materials and service providers, plans to invest US$440 million more in South Africa.
Zhang Suwei, general manager of ASA Metals PTY Ltd, Sinosteel’s joint venture in South Africa, in which Sinosteel owns 60% stake, said it was part of the company’s strategy of natural resources exploitation, with an [...]
China’s Industrial Bank Co. one of China ’s joint-stock commercial banks, will extend RMB 1.5 billion (US$210 million) of energy efficiency loans to small and medium-sized businesses in China, said the bank in a joint statement with International Finance Corp (IFC), one of its shareholders.
The statement disclosed that IFC, the World Bank’s private investment arm, [...]
The China Banking Regulatory Commission (CBRC), the main industry watchdog, and the Financial Services Agency of Japan (FSA) plan to establish a framework for regulatory cooperation related to the QDII (Qualified Domestic Institutional Investors) scheme.
Under the terms of agreement, the framework enables Chinese commercial banks to conduct wealth management business in Japan, which marks a [...]
China Shenhua Energy Co, China’s largest coal producer said it has resumed coal exports on the basis of guaranteeing domestic coal supply.
To satisfy the coal needs of domestic companies will still be a priority for Shenhua, as most Chinese power plants take coal as fuel. In the meantime, it will also fulfill the contracts signed [...]
Baoshan Iron & Steel Co., Ltd (Baosteel), China’s leading steel producer is planning to raise prices of its major products amid the soaring iron ore price worldwide, sources reported.
Industry insiders disclosed that Baosteel is likely to release its price hike plan for the second quarter this week. The producer may increase the factory price of [...]
