China’s smartphone market booms in Q1, sales up 4.8%
BEIJING, May 11 (Xinhua) — Sales of smartphone in Chinese market in the first quarter increased 4.8 percent compared with the fourth quarter last year. Sales hit 8.24 million units in the first quarter, accounting for 19.1 percent of all types of cellphones sold on domestic market, according to a report issued by Beijing-based CCIDC [...]
China signs Orinoco oil supply JV
BEIJING, May 11 — Venezuela and China, the world’s fastest-growing major economy, will form a joint venture to produce oil in Venezuela’s Orinoco Belt to supply a new 400,000-barrel-a-day refinery they will build in China. The venture between Petroleos de VENEZUELA SA and China National Petroleum Corp will pump oil from an area called Junin [...]
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China’s Chalco to take stake in Saudi aluminum smelter venture
BEIJING, May 9 (Xinhua) — Aluminum Corporation of China Ltd (Chalco), the country’s top aluminum producer, will team up with Malaysia’s MMC and Saudi Arabia’s Binladin for a joint aluminum project in Saudi Arabia. The project, to cost 4.5 billion U.S. dollars, includes an aluminum smelter plant and an equipped power plant in Jazan Economic [...]
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EU launches anti-dumping probe against Chinese wire rod
BRUSSELS, May 8 (Xinhua) — The European Commission launched Thursday an anti-dumping probe against wire rod from China, Moldova and Turkey, opening the fourth case targeting Chinese steel products in five months. ”The investigation will determine whether the product concerned originating in China, Moldova and Turkey is being dumped and whether this dumping has caused [...]
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China’s agricultural trade deficit hits $3.66 bln in Q1
BEIJING, May 8 (Xinhua) — China reported a deficit of 3.66 billion U.S. dollars in agricultural product trade in the first quarter, against a surplus of 460 million U.S. dollars for the same period of 2007. Exports reached 9.35 billion U.S. dollars in the first three months, up 9.6 percent year on year, while imports [...]
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Microsoft to build $280mln R&D center in Beijing
Microsoft announced an unexpected 44.6-billion-dollar bid for Yahoo Friday, as a latest move by the software giant to challenge Google’s dominance of the lucrative online search and advertising markets.(Xinhua/Reuters File Photo)Photo Gallery>>> BEIJING, May 7 — Software giant Microsoft yesterday said it will invest 280 million U.S. dollars to build a research and development center in Beijing and [...]
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China sees export growth of electronic, information products slow in Q1
BEIJING, May 6 (Xinhua) — China’s foreign trade of electronics and information products reached 201 billion U.S. dollars in the first quarter of this year, a growth of 17.7 percent year-on-year. The growth rate was 6 percentage points lower than the year-earlier level, according to figures released by the Ministry of Industry and Information. The [...]
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China’s Alibaba forms strategic alliance with India’s Infomedia
HANGZHOU, May 6 (Xinhua) — China’s B2B e-commerce portal alibaba.com has entered into a long-term strategic partnership with Infomedia, India’s largest yellow pages and special interest publishing company, Alibaba announced on Tuesday. ”India is a priority market for Alibaba’s global plans and Infomedia will help provide on-ground support including sales, marketing and customer service,” said [...]
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China Minmetals takes over German micro-cutting tools producer HPTec
BEIJING, May 6 (Xinhua) — China Minmetals Non-ferrous Metals Co. Ltd. (CMN), a subsidiary under the country’s metal and mineral titan China Minmetals Corp.(CMC), has bought HPTec, Germany’s leading manufacturer of drills and cutters for an unspecified price, CMC told Xinhua on Tuesday. CMN said this move is to update its tungsten sector and it [...]
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China’s top copper tube producer to set up plant in Mexico
BEIJING, May 6 (Xinhua) — Golden Dragon Precise Copper Tube Group Inc., China’s largest precise copper tube producer, is to set up a plant in Mexico, the group announced Tuesday. The Mexican plant, in the copper-rich Coahuila with a designed capacity of 70,000 tonnes of precise copper tube, will start test production by the end [...]
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