China

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PetroChina Reports 9.7% Dip in Profit

PetroChina Reports 9.7% Dip in Profit

On Thursday, PetroChina Co., China's biggest-listed oil company, said that in 2009, its net profit dropped 9.7% as lower oil prices hit income. However, its 2010 end results could benefit from enhanced production and higher energy prices.

ICBC Maintains Status Quo With Regards to Return of Equity

ICBC Maintains Status Quo With Regards to Return of Equity

Industrial & Commercial Bank of China (ICBC) says that it will continue to maintain its return on equity at 20%.

The bank's Chairman said that it will refrain from taking hasty steps to raise more money after its designed sale of nearly 25 billion Yuan in convertible bonds.

China Reportedly with Highest Number of Diabetics in the World

Diabetics

As per a recent report, China now consists of more number of people suffering from diabetes than any other place in the world. It is quite clear that the country’s increasing financial growth is injuring people’s health grievously.

China Unicom Aims at Enhancing 3G Customer Base in 2010

China Unicom Aims at Enhancing 3G Customer Base in 2010

In view of a major discouragement hitting the company in its fourth-quarter results, China Unicom is now focusing on enhancing its 3G customer base, this year. It considers this expansion as big source of growth.

Bank of America Happy With The CCB Link

Bank of America Happy With The CCB Link

It has been reported that the Bank of America also know as BoA, which is by far the largest among all commercial lenders by assets in U. S., has its eyes on the expansion in China and it seems that BoA wants to expand its banking services to a much wider range.

Chinese Company Invests 1.5 Billion in New Zealand’s Dairy Industry

Chinese Company Invests 1.5 Billion in New Zealand’s Dairy Industry

Chinese-owned Hong Kong-listed Natural Dairy is ready to invest $NZ1.5 billion in New Zealand's dairy industry.

Google-China Separation Saddens Obama’s Officers

Google-China

The management personnel, working for Obama’s office, are not happy with the separation between Google Inc. and Chinese Government. The battle between Google and China’s Government could not reach a happy ending, as none of the parties was ready to back down.

Investment in Wind Energy Increases, Government Assists with Stimulus

China WindPower Group

Wind energy, which is a pollution-free, infinitely sustainable form of energy, is being explored more by China WindPower Group and Duke Energy Corporation jointly, in a move expected to lead to a development of wind – power plants which cost approximately $65 billion. The aim is to decrease the dependence of utilities on fossil fuels.

New Technology Regulations by China Hurt American Firms

China Hurt American Firms

As has been revealed by an American Chamber of Commerce survey, which was released in Beijing today, the new regulations being adopted by China in order to encourage local technology are substantially hurting US companies and making them lose sales.

Trial of Accused Rio Tinto Employees Underway in China

Rio Tinto Employees

The trial of four Rio Tinto employees, accused of bribery and of stealing commercial secrets, commenced in China. The accused include an Australian national Stern Hu. The four employees, who are members of Rio Tinto’s iron ore team, were detained in China last summer.

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