China Reinsurance (Group) Corporation Limited (China Re), the only state-owned reinsurance company in China, is trying to explore the world reinsurance market with London as its bridgehead.
At a ceremony on Friday to mark the opening of its London Representative Office, Liu Jingsheng, Chairman of China Re, said that China Re Group’s office in London “will [...]
China processed more crude oil in the first two months to ease supply shortage plaguing some areas.
China processed 55.81 million tons of crude oil in the first two months, up 7.4 percent from the same period of 2007, the National Development and Reform Commission (NDRC) said on Friday.
Tags: NDRC, oil
China’s four leading electric utilities companies released their annual reports to the country’s two stock markets this week, saying their 2007 profits were largely affected by soaring energy costs.
Huadian Power International Co. Ltd. reported its revenue hit 20.49 billion yuan (2.94 billion U.S. dollars). Its gross profit was 1.82 billion yuan, down 3.57 percent year-on-year.
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China’s leather exports declined 37.9% year-on-year to 113,000 tons in 2007, mainly attributed to the government’s policy to restrict the leather export, according to the General Administration of Customs on Sunday.
The value of the leather exports in 2007 declined 33.1% to US$1.18 billion. Of the total sales, 62%, or 70,000 tons of the leather were [...]
China National Offshore Oil Corp(CNOOC), the parent of CNOOC Ltd, said it is in talks to acquire several independent refineries in eastern China’s Shandong province.
‘The negotiations are going smoothly,’ Liu Junshan, a CNOOC spokesman, told XFN-Asia.
CNOOC plans to deliver crude oil pumped from Bohai Bay to the refineries in Dongying after the acquisitions, Liu said.
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Chinese coal exporters are slated to start negotiating benchmark price with Japanese importers soon while global coal price continues upward swing. Japanese buyers are insisting on larger coal shipment from China, while the suppliers are push for higher price, sources said.
The industrial insiders said that Japanese buyers are sitting on the fence right now in [...]
