Logistics industry posts 20 percent growth in added value for 2007


Mar. 31 – China’s logistics sector realized RMB1.7 trillion in added value last year, a growth of 20.3 percent on the previous year, according to the National Development and Reform Commission. The growth rate was 5.2 percentage points higher than the year-earlier level. The added value accounted for 17.6 percent of the total added value […]

Report: Land prices to rise slower in 2008


Mar. 28 – Land prices in China will rise more slowly this year than in 2007 according to a report from the China Land Surveying and Planning Institute. The institute, a division of the Ministry of Land and Resources forecasts that measures to curb property prices will begin to take effect, slowing growth in the […]

Hainan Airlines 2007 profits nearly quadruple


SHANGHAI, Mar. 26 – Hainan Airlines net profits nearly quadrupled in 2007, thanks to a booming domestic industry and a stronger Chinese currency. The company, China’s forth largest carrier, posted a net income of RMB651.4 million, up from RMB166.8 million in 2006 it said in a statement to the Shanghai Stock Exchange. The Haikou-based carrier’s […]

China increases output target of largest domestic oilfield


By Andy Scott Mar. 24 – China’s largest oilfield, Daqing, increased its setimated output target to 40 million tons annually in the coming decade. The Daqing oilfield produced 41.7 million tones of oil in 2007, slightly above the target of 41.62 million tons Xinhua reported. The oilfield’s change in output target is related to China’s rising […]

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 […]

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