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Ministry seeks extra rail funds
CHINA’S debt-laden Ministry of Railways has reportedly asked the central government for a further 800 billion yuan (US$126 million) in additional funds to ensure the building of the world’s largest…
Gaopeng admits watch certificates faked
DAILY deals site Gaopeng admitted a retailer had counterfeited dealership authentication certificates of Tissot watches sold online last month. Gaopeng, partly owned by the world’s largest daily deals site Groupon,…
CNOOC says terminates Pan American deal with BP
China’s biggest offshore oil producer CNOOC Ltd said on Sunday its 50 percent-owned unit Bridas Energy Holdings has determined to terminate a deal to buy BP Plc’s 60 percent stake…
China’s steel consumption to hit 750m tons by 2015
China’s annual consumption of crude steel is expected to reach 750 million tons by 2015, according to the industry’s five-year plan issued Monday. Annual demand for crude steel will peak…
China’s major cotton producer faces high inventory pressures
China’s major cotton production base in the far western region is expected to have a good harvest this year, but the lack of processing facilities and smooth transportation is increasing…
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