China Construction Bank (CCB) is selling its 8.07% stake in Shanghai Asia Pioneer Pharmaceutical Co. Ltd, said sources citing an insider familiar with the industry.
The Chinese lender expects to sell the shares for RMB 56.494 million, according to CCB’s filing with the Shanghai United Assets and Equity Exchange, a comprehensive platform for assets and equity [...]
ArcelorMittal, the world’s largest steel producer controlled by Indian billionaire Lakshmi Mittal, will set up a new flat carbon steel joint venture in China with Hunan Valin Group and Hunan Valin Steel Tube & Wire Co. Ltd, in Hunan Province, according to sources.
Under a contract signed on Jun. 27, the new company, Valin ArcelorMittal Automotive [...]
China National Petroleum Corp (CNPC), the parent company of the country’s largest oil maker PetroChina, has decided to raise its refined oil products output in the third quarter, according to sources.
CNPC will process 880,000 tons, or about 3% more crude oil in the third quarter of 2008, compared with the same period last year.
Tags: CNPC, [...]
China State Shipbuilding Corporation (CSSC), the country’s biggest ship builder, is putting its entire 100% stake in Guangzhou Wenchong Shipyard Co Ltd up for sale, with expected price set at RMB 3.041 billion.
Industry analysts estimate that CSSC will most likely sell its assets to its Shanghai-listed subsidiary Guangzhou Shipyard International Co Ltd, to make the [...]
Ministry of Industry and Information (MII) director Li Yizhong has ordered China Mobile (NYSE: CHL, 941.HK) to report daily to the MII on the development of TD-SCDMA projects, reports IT-Times citing unnamed sources. According to the report, Li has asked China Mobile to provide specifics including exact timelines and names of people involved in solving [...]
Global economic growth remains the primary driver for the dry-bulk shipping industry, which on systematic basis gets fueled primarily by the emerging economies of China, Brazil and India.
This fact has resulted in significant demand for dry bulk products - particularly iron ore, providing a significant boost to its per dry metric tonne unit price.
Tags: Baosteel, [...]
