China News Direct

 
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CNOOC Opens New Office in Qatar, Closer to Resources
(Mar 09, 2009) China National Offshore Oil Corporation (CNOOC) has opened a new office in Doha, capital of Qatar, being its first in the Gulf Region. Abdullah Bin Hamad Al-Attiyah, Qatar's Deputy Prime Minister and Minister of Energy and Industry, hoped the new office marked the two countries' increased cooperation and business ties ...
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Asia Cassava Expands Business in Thailand
(Mar 09, 2009) Asia Cassava Resources Holdings Ltd. (Asia Cassava) plans to strengthen its leading market position and increase its inventory by offering more service spots in Thailand, said Executive Director Chan Yuk-tong. Chan revealed that the company has been the top cassava exporter of Thailand in the past nine years, with a ...
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Dongfang Electric Plans RMB10bn Capex
(Mar 07, 2009) Dongfang Electric Corporation is planning to increase its capital expenditure budget to more than RMB10 billion in 2009, said Wang Ji, President of the company on March 6. Wang said that Chinese government's industry revitalization plans had encouraged the corporation to raise its expenditure and 80% of the budget would ...
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Anhui's Anqing Wants Investors in Pillar Industries
(Mar 06, 2009) Anqing city in Anhui province, China, targets at attracting a total of RMB48 billion foreign direct investments (FDI) to support local economic development. Zhu Duwen, CPC Committee Secretary of Anqing, said foreign investors were wanted in various pillar industries including petrochemical, light textiles and building materials. Apart from extending the ...
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Cotton Groups Build Logistics Center in Hunan
(Mar 06, 2009) The mainland's Hunan province is building the largest cotton logistics center in central and southern China, with a total investment of RMB120 million. The construction of Hunan Yinhua Modern Agriculture (Cotton) Logistics Center has commenced in Changde city of Hunan and is expected to complete by the end of this ...
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Sinopec To Tap Oil and Gas from Tahe, Xinjiang
(Mar 06, 2009) Chinese oil giant China Petroleum & Chemical Corporation (Sinopec) vows to invest RMB9.8 billion in its Tahe oilfield project in Xinjiang this year. Sinopec will drill 42 wells in the oilfield this year, expected to get 475 million tons equivalent of third-class oil reserve. It hopes to reach proven oil ...
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Agricultural Bank of China Will Lend More to Peasants
(Mar 06, 2009) Agricultural Bank of China targets at issuing 23 million supportive credit cards for Chinese peasants and granting over RMB50 billion loans in 2009. In 2009, the bank will offer small-amount credit line to more than 3 million peasant households, and provide about 100 million peasants with specialized financial services, as ...
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Commodity Prices To Rise in 2Q '09
(Mar 06, 2009) Barclays Capital sees that commodity prices including oil have started to bottom out and are likely to go up in this year's second quarter. Justin Hyde, Director for Commodity Sales and Restructuring with Barclays Capital, said the Chinese government's stimulus package was an important driving force in stabilizing commodity prices. ...
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CNOOC Seizes Right Buying Time
(Mar 06, 2009) China National Offshore Oil Corporation Limited (CNOOC) is actively seeking overseas acquisitions while maintaining local development in the mainland. Chairman of CNOOC, Fu Chengyu, said the financial tsunami had dragged the valuation of many overseas oil assets. More acquisition opportunities are likely to emerge in the coming months. CNOOC itself ...
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Sinopec Sees Fuel Oil Demands Coming Back
(Mar 06, 2009) China Petroleum & Chemical Corporation (Sinopec) has seen demand for processed oil or fuel oil products coming back in the mainland, indicating a gradual recovery. President of Sinopec Su Shulin said the current sales volume of processed oil in the mainland has reached 310,000 tons per day, up by 10% ...
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