China Trade Information

Agricultural Bank of China (ABC) has seen a 26.3 percent surge in its net profit for 2009 as the country’s third-largest lender reaped gains from the country’s rapid credit expansion and reform of its rural operations, said its chairman Xiang Junbo. Read the rest of this entry »

A project aiming to transfer natural gas from southwestern Sichuan province to eastern China is set to be formally put into operation in May, a deputy to the National People’s Congress with China Petrochemical Corporation (Sinopec) told China Daily on Wednesday.

The 1,660-km-long gas pipeline, built and operated by Sinopec with an investment of 62.7 billion yuan ($9.18 billion), is expected to supply 4 billion cubic meters of gas this year to the Yangtze River Delta region, one of the major powerhouses of China, said Zhou Yuan, a senior advisor with Sinopec. Read the rest of this entry »

Maanshan Iron & Steel Co, the second-biggest Chinese steelmaker listed in Hong Kong, will increase coking coal imports this year, adding to rising global demand that’s sent prices soaring.

The mill bought between 800,000 metric tons and 900,000 tons of the raw material from BHP Billiton Ltd, the biggest exporter, last year, Chairman Gu Jianguo said. “Imports from BHP will likely be sustained,” he said. Read the rest of this entry »

After 8.6 million Chinese bought their first cars last year, General Motors Co, Volkswagen AG and Ford Motor Co are positioning themselves to compete for return customers.

The number of car models in China’s showrooms quadrupled in the past six years, forcing companies to fight for attention by unveiling vehicles at the Imperial Ancestral Temple in Beijing and the Great Wall outside the capital - and by paying Olympic gold medalist Michael Phelps millions of dollars.

“It is clear that brands are still in the forming process,” said Joerg Mull, chief financial officer for Volkswagen AG’s China unit. “One of the keys for success in China in the long run is brand building and brand establishment.” Read the rest of this entry »

The parent of China’s Geely Automobile has secured financing to buy Ford-owned Volvo cars for about 15 billion Swedish crowns ($2.10 billion), a Swedish business daily reported on Wednesday.

Dagens Industri, citing sources, said that Chinese financial institutions and regional government bodies had provided the money for Geely to complete its purchase.

The paper quoted its source as saying that the money was already “in the bank account” of parent Zhejiang Geely Holding, (ZGH) which would also have offered guarantees to Ford about the financing of its business plan for Volvo. Read the rest of this entry »

Event Profile:
China Golf Show 2010 will provides the unique opportunity to meet all the professional form the Golf Sports sector industry under one roof. The exhibition will be held between 16 to 18 April 2010 at National Agricultural Exhibition Center (NAEC) which is being organized by Zhongzhan Golf Alliance (Beijing) Co., Ltd.
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