The supplies of coal, oil, gas, electricity and agricultural goods and materials must be ensured, according to an executive meeting of the State Council, China’s Cabinet, held on Wednesday.
The meeting, presided over by Premier Wen Jiabao, urged efforts to ensure coal, oil and electricity supplies firstly for the areas ravaged by the May 12 earthquake.
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Baosteel Group Corp., China’s biggest steelmaker, may buy as much as 20 million metric tons of iron ore a year from Fortescue Metals Group Ltd.
The possible increase will follow Fortescue’s expansion plan, Baosteel Resources Co. President Li Qingyu said at a ceremony in Shanghai.
Tags: Baosteel, iron-ore
China’s top refiner will keep all the diesel and gasoline it refines at home to ensure supplies as the country prepares for the Olympic Games and rebuilds after a devastating earthquake, a company Web site said on Wednesday.
Sinopec president Wang Tianpu said the company had to raise production, halt exports and make structural changes to [...]
China’s automotive industry saw its gross profit margin fall sharply in the first quarter of 2008, due to the appreciation of steel plate and other materials, China Securities Journal reported. Meanwhile, the listed units maintained upward momentum both in business revenue and net profit.
Statistics from market researcher Wind Info show that the 21 listed whole [...]
Chery Auto will finally consummate its corporate marriage with Chrysler when a version of the Chrysler-badged Chery A1 goes on sale in Mexico by the end of 2008. The Chinese small-car is built as an OEM project at Chery’s Wuhu plant and will be exported to Mexico later this year with a Chrylser brand, perhaps [...]
Tianjin FAW-Toyota Motor Co., Ltd. announced that it has recently obtained approval from the Ministry of Commerce to invest US$537 million in its third manufacturing plant in Tianjin, according to an Asia Pulse report.
The report said new investment will be used for the production of an unnamed SUV at the plant in mid-2009. Designed production [...]
