China News Direct

 
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Air China on its Ways to Get RMB9.5bn Injection
(Dec 31, 2008) Air China may get a RMB9.5-billion capital injection from the Chinese government, a mainland media reported on December 30. The report said that the bailout package of Air China would be higher than those of other mainland carriers such as China Eastern Airlines (CEA) and China Southern Airlines (CSA). CEA ...
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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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China Eastern Airlines Plans RMB7bn Share Placement
(Dec 30, 2008) China Eastern Airlines (CEA) announced on December 29 to increase its fund-raising scheme to RMB7 billion, from the original RMB3 billion plan two weeks ago. The carrier expressed that the new bailout package will take a much better effect than the original one and it could greatly ease the company's ...
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Dubai's DPW Buys Container Cranes from Shanghai
(Dec 29, 2008) Shanghai Zhenhua Port Machinery (Group) Co. Ltd. (Shanghai Zhenhua) has won a US$343-million container crane contract from Dubai's DP World Group (DPW). The two parties have confirmed the transaction, while the contract has been signed in Shanghai, China, on 26 December 2008. Under the contract, Shanghai Zhenhua will deliver 87 ...
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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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FedEx To Trial Run Guangzhou Transshipment Center
(Dec 18, 2008) Federal Express (FedEx Express) has commenced trial operation of its Asia Pacific Transshipment Center at the Guangzhou Baiyun International Airport in Southern China. In its trial run, FedEx Express will operate four flights a week, and upon official opening on February 6, 2009, the number of flights will be increased ...
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Taikoo Aircraft Engineering To Train 1,000 Technicians
(Dec 18, 2008) Taikoo (Xiamen) Aircraft Engineering Co. Ltd. (TAECO) opened its new training center in Xiamen, Fujian province, expecting to train 1,000 cadet aircraft engineering technicians. TAECO chairman Chen Bingjie said the training center, with a total investment of RMB300 million, currently has about 70 instructors and will be able to accommodate ...
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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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Taiwan Invests RMB19.8bn in Tianjin
(Dec 18, 2008) Tianjin attracted a total of RMB19.8 billion investment from Taiwan businessmen during the 1st Tianjin-Taiwan Investment Fair held on December 14. The investment projects including Light-emitting Diode (LED) manufacturing, airport properties, a livestock feed research & development (R&D) center, a business industrial park and chemical projects. The Tianjin Binhai New ...
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