Sinopec, which owns 70 percent of Shanghai’s petrol stations, is to lower fuel prices by up to 7 percent at some of its local pumps from tomorrow. Rival PetroChina cut prices last week.
The cuts, the first time Sinopec has cut retail prices by itself in Shanghai, indicate intensified competition in the fuel market after crude [...]
Credit Suisse said yesterday it had won a business permit from China’s stock market regulator for its mainland joint venture with Founder Securities in a move to tap the country’s investment banking market.
The Swiss bank became the first overseas financial institution to obtain the operation license after China issued new rules over Sino-foreign stock ventures [...]
China, the world’s second-biggest corn grower, will allow 500,000 metric tons of the grain to be exported next year, about 10 percent of levels seen in previous years, as the government seeks to ensure domestic supplies.
Cofco Ltd, Jilin Grain Group Co and three smaller companies received export permits, said three people familiar with the matter, [...]
Indonesia and China have signed eight energy-related agreements, valued at $3.13 billion, during the third Indonesia-China Energy Forum (ICEF) in Jakarta, the Oil & Gas Journal reported.
The first agreement extended an oil and gas contract for a development in the Madura Strait, East Java, operated by China National Offshore Oil Corp. and Canada’s Husky Energy [...]
China’s large and midsize steel firms will shift theirs development theme from production expansion to structural adjustment in 2009 due to the sluggish demand affected by the global financial crises.
Most companies have released that their estimates for 2009 operating targets will not change output or moderate rise over 2008.
Tags: output, steel, steel-maker
Ford Credit has decided to stop offering loans to dealers and consumer in the Chinese market because of finance liquidity problems, the International Business Daily reported Tuesday.
The report said Ford dealers were informed on Dec. 30 that loans used by dealers to stock vehicles or by consumers for down payments will be suspended. All of [...]
