China’s logistics expenditure grew 18.2 percent year on year in 2007 amid oil price increases and higher labor costs, the National Development and Reform Commission yesterday.
The growth rate represented an acceleration of 4.7 percentage points compared with the same period in 2006.
Tags: logistics, port
Top Chinese offshore energy producer CNOOC Ltd said yesterday net profit rose 1.1 percent last year on higher oil prices, and although it met its own target earnings, growth is the smallest increase in five years.
The Hong Kong-listed firm blamed rising costs, flat production and higher taxes for the result.
It earned 31.26 billion yuan in [...]
China Petrochemical Corp, the nation’s largest oil refiner, has cut production of liquefied petroleum gas and propylene and instead increased output of gasoline to a record to ease fuel supply shortages.
China Petrochemical, known as Sinopec Group, increased its daily gasoline output to 80,000 tons, the Beijing-based oil firm said in its online newsletter Sinopecnews yesterday. [...]
Having opened stores in Beijing, Shanghai, Guangzhou and Chengdu, Ikea, the Swedish household retailer, plans to open a new store in Wuhan.
Lin Xiaobin, director of Wuhan Bureau of Commerce, has confirmed that Ikea has decided to open a new store in Wuhan. With home furnishings store as its core business, the company will build Asia’s [...]
AsiaInfo (ASIA) has signed a contract with Henan Mobile, a subsidiary of China Mobile, to develop its Business Operation Support Systems.
“We are excited to increase our market share within the China Mobile market and extend our geographic reach into Henan Province,” said Steve Zhang, AsiaInfo’s president and chief executive officer. “AsiaInfo’s industry-leading BOSS solutions offer [...]
China’s Ministry of Commerce voiced regret on Thursday over Australia’s initiation of investigation into the alleged dumping and subsidizing of toilet paper imported from China.
Ministry spokesman Wang Xinpei said the government believed that the investigation was launched without adequate legal and factual support, and it failed to comply with World Trade Organization (WTO) regulations and [...]
