China South Locomotive & Rolling Stock Corp., the nation’s largest maker of rail vehicles, may sell a 30 percent stake in a Shanghai initial public offering to help fund nearly 9 billion yuan ($1.3 billion) of projects, it said in a draft prospectus.
The Beijing-based company plans to offer as many as 3 billion shares in [...]
China’s iron ore imports surged during the first four months of this year as users sought to avoid anticipated higher costs, official figures show.
From January to April, China imported 150 million tonnes of iron ore, up 15.1 percent year-on-year, the General Administration of Customs said on Thursday.
Tags: Baosteel, export, imports, iron-ore, steel-maker
The first batch of 3,000 Geely MK sedans produced by China’s homegrown private automaker Geely Automobile have been put on sale in 25 Geely 4S stores in 21 Russian cities. The “Chinese King Kong” (as Geely MK is called) is expected to reverse the recent sluggish sales of Chinese sedans in Russia.
Tags: car-maker, engine, Geely
China’s largest automaker Shanghai Auto, known as SAIC, denied it has ever held talks with Ford over the Volvo purchase deal, China Business News reported.
The newspaper cites SAIC sources as saying that reports hinting SAIC is in talks with Volvo are highly speculative, because SAIC has never held talks with Ford on that matter.
Tags: Auto, [...]
The Chinese government will offer tax incentives for purchases of environmentally friendly vehicles such as hybrids and diesel-engine cars, the Japanese daily Nihon Keizai Shimbun said on Thursday.
The move, expected to be implemented this year, would lower prices for “green” vehicles by almost 10 percent, the newspaper said, without citing sources.
Tags: cars, engine, tax
China shares extended losses in the afternoon amid a regional slump triggered by steep falls on Wall Street and a spike in oil prices.
Dealers said the local market is also getting hit by worries over new initial public offerings (IPOs).
At 2:39 pm, the benchmark Shanghai Composite Index was down 176.51 points or 6.08 pct at [...]
