Chinese companies including China Mobile and China Construction Bank signed purchase deals with US firms worth US$10.6 billion during a meeting in Washington between top trade officials of the two countries.
The deals mainly involved the new energy, telecommunications equipment, electronics and auto component sectors, which are expected by both countries to help provide an impetus [...]
China Telecom’s Shanghai branch yesterday signed agreements with the Shanghai municipal government to invest 26 billion yuan (US$3.82 billion) within two years to boost the city’s economy and construct IT infrastructure for the World Expo 2010 to be held in the city.
According to the pact, Shanghai Telecom will upgrade network, create jobs, better serve consumers [...]
Baidu.com Inc outperformed its previous forecasts in the first quarter with a strong performance by its online advertising business.
Net income reached 181.1 million yuan (US$26.5 million), or 5.19 yuan per share, which was up 23.5 percent from the previous year but 37 percent lower than the fourth quarter of 2008, the company announced late Monday.
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Foreign fund-management companies in China projected flat-to-moderate growth this year, a lower rate of staff turnover and growing merger and acquisition possibilities amid the financial crisis, an industry survey said yesterday.
The majority of foreign-invested fund management houses said cost control is becoming their top concern in China, said the PricewaterhouseCoopers survey, released yesterday.
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Baoshan Iron and Steel Co, China’s top listed mill, said quarterly earnings plunged 97.7 percent from a year earlier as a global recession hurt demand and prices.
Net profit for the first quarter of the year was only 89 million yuan, or 0.01 yuan per share, it said in a filing to the Shanghai Stock Exchange [...]
A record high number of 600,000 enthusiasts and higher-than-expected orders won by car makers has cemented Auto Shanghai 2009’s reputation as the exhibition to showcase numerous new and concept models as well as extol China as a promising market that global auto makers can’t ignore.
According to the organizer, the biennial auto show, which ended yesterday [...]
