China News Direct

 
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Jiangsu's ShaSteel Buys Iron Ore in Australia
(Dec 31, 2008) Jiangsu Shagang Group (ShaSteel) is rumoured to have acquired an Australian iron ore with 800 million of reserves at a bargain price, a mainland media reported. Shen Wenrong, chairman of ShaSteel, revealed that the acquisition price was low as the iron ore is still unexploited, and the company will suspend ...
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Tangshan Steel Merged to be No.1
(Dec 31, 2008) Three listed companies under Hebei Iron & Steel Group Co. Ltd (HISG) announced a merger and amalgamation plan on December 30. Tangshan Iron & Steel Co. (Tangshan Steel) will merge with Handan Iron and Steel Group and Chengde Xinin Vanadium and Titanium Co., according to the plan. Experts pointed out ...
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China Water Affairs May Sell Investment
(Dec 31, 2008) China Water Affairs Group Ltd. (CWAG) has turned to a loss during the interim period ended September 2008 and it intends to sell a portion of investment projects. CWAG recorded a RMB186-million net loss ended September. Duan Chuanliang, chairman of CWAG, explained that the loss was mainly due to the ...
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CNPC To Run Gas Business in Hunan
(Dec 30, 2008) China National Petroleum Corporation (CNPC) plans to invest RMB3 billion to construct and exploit natural gas projects in Hunan province of China. CNPC has signed a framework agreement with the Hunan provincial government, under which CNPC is granted franchise operation right on natural gas in Changsha, Zhuzhou and Xiangtan. PetroChina ...
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Shanghai Electric Confident in 10% Growth
(Dec 30, 2008) Shanghai Electric Group Co. Ltd. is confident about attaining a 10% growth in sales in 2009 despite the financial tsunami. Shanghai Electric managing director Xu Jian-guo said the financial tsunami had alerted many enterprises but the firm was still confident in keeping profit. Since Shanghai Electric has its core business ...
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Huadian Power Buys Hebei's Power Group
(Dec 30, 2008) Huadian Power International Corporation Ltd. has paid RMB729 million to fully acquire power firm Huarui Company in Hebei province. The full acquisition allows Huadian Power International to develop electricity and heat production and sales businesses, maintain and test-run electric equipment in Hebei. Huarui Company, based in Shijiazhuang, has a registered ...
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Guangdong Pulls Growth Through Water Works
(Dec 19, 2008) Guangdong province vowed to invest additional RMB30 billion in water and irrigation works in 2009, the biggest amount ever. Guangdong announced a RMB6.8-billion investment in water and irrigation projects in summer 2008 and in November, it topped the investment with another RMB10 billion mainly to correct, improve, build and repair ...
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Cheung Kong Infrastructure Looks for Other Deals
(Dec 18, 2008) Cheung Kong Infrastructure (CKI) will continue to look for other acquisitions in New Zealand and other countries following its failed attempt to buy New Zealand Steel Mining. The New Zealand government has turned down CKI's proposal to buy New Zealand Steel Mining for NZ$250 million on the ground that the ...
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China Gas Sees Strong Demand in Natural Gas
(Dec 18, 2008) China Gas Holdings Ltd. (China Gas) forecast domestic demand for energy to remain strong despite the impact brought by the global financial turmoil. Managing Director Liu Minghui said the daily natural gas supply had increased to 6 million cubic meters as the winter season comes, and the volume will grow ...
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Oil Refinery Loss Topped RMB180bn in 10 Months
(Dec 18, 2008) China Petroleum & Chemical Corporation (Sinopec) and PetroChina Company Ltd. recorded high losses on oil refining business, according to China's State-owned Assets Supervision and Administration Commission (SASAC). China recorded a total loss of RMB180.4 billion on oil refining business from January to October 2008. The oil price hike in the ...
Price: USD $17.50