BASF plans US$900 million expansion project in Nanjing


Mar. 24 – China’s largest oil refiner Sinopec and Germany-based BASF officially submitted a planned US$900 million project extension at its joint venture in Nanjing for review by the Chinese authorities on March 19. The project, enlarging the annual production volumes of ethylene pyrolysis at Yangtsi-BASF from 600,000 tons to 750,000 tons, represents BASF’s largest petrochemical […]

Official: Shanghai port to see 10 percent growth in TEUs


  SHANGHAI, Mar. 24 – The container throughput of Shanghai’s seaport is expected to see stable growth of about 10 percent a year until 2010, said a port administration official at the China Ports Future Forum in Shanghai on Friday. This projected growth is attributed to the booming economy in the Yangtze River Delta and […]

Mixed views on proposed London and Shanghai steel futures markets


Shanghai left standing as London takes the lead Mar. 21 – Targeting China’s producers and traders, the London Metals Exchange (LME), the world’s largest trading house of non-ferrous metals, has announced it will go live next month to sell futures contracts in steel The announcement has confounded plans by the Shanghai futures exchange to sell […]

Ningbo Port set to join global heavyweights


Port invests US$3.5 billion for international expansion over next three years Mar. 20 – The Ningbo Port Group, based in the eastern city of Ningbo, just 90 minutes from Shanghai, has announced aggressive expansion plans including a US$600 million investment into an unspecified European port complex, its chairman Li Linghong stated. The group, which has […]

Shanghai port trade up 20 percent


  SHANGHAI, Mar. 17 – Foreign trade in East China’s Shanghai port rose 20.3 percent year-on-year to US$91.06 billion in the first two months of 2008, according to Customs statistics. The figure accounted for 24.9 percent of the country’s total trade value of US$365.93 billion from January to February. Exports climbed 17.2 percent, 20.7 percentage […]

China retail sales jump 20 percent


Mar. 13 – Domestic retail sales leaped 20.2 percent to US$245.5 billion in the first two months of 2008, boosted by Chinese New Years sales and rising food prices, the National Bureau of Statistics said on Wednesday. The figure was 5.5 percentage points higher than the same period last year. Food prices have risen steeply […]

NPC: Private investors encouraged to invest in China’s railways


  BEIJING, Mar. 10 – As we alluded to February 26, the Minister of Railways Liu Zhijun has encouraged overseas and domestic private investors to invest in China’s rail infrastructure as country steps up construction of its railway network. “We welcome overseas and domestic private investors to get part ownership of the railway lines, except […]

China’s shipbuilding tonnage up 30 percent


Mar. 4 – China’s shipbuilding tonnage jumped 30 percent to 18.93 million tons in 2007, the country’s top economic planning agency said Saturday. China, the world’s third-largest shipbuilder after Korea and Japan, accounted for 23 percent of the world’s market share, an increase of four percent over 2006. A total of 14.9 million tons of […]

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