China News Direct

 
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Sweden SKF will produce bearings in Dalian
(Jun 17, 2008) Sweden SKF Group has invested over US$100 million in Dalian city, Liaoning Province. SKF (Dalian) Bearings and Precision Technologies Co. Ltd, a wholly-owned subsidiary of SKF (China) Investment Co. Ltd, invested a total of US$55 million. According to its long-term plan, the production of large bearings is gradually increasing. Its ...
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Lee & Man to build HK$8 bn paper plant in Vietnam as scheduled
(Jun 17, 2008) Hong Kong-listed Lee & Man Paper Manufacturing will continue to build a new plant in Vietnam despite the local currency crisis, said CEO Raymond Lee. The company plans to pour HK$8 billion to build a new plant of two million square metres in Vietnam. Lee said the currency crisis should ...
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Le Saunda plans production expansion and additional outlets
(Jun 17, 2008) Le Saunda Holdings Ltd., a footwear company, plans to expand its production capacity and add outlets. The company plans to open more shops in some second-tier regions, like northeastern and eastern China. It hopes to increase the number of franchised outlets by 100% in 2010. In addition, the company plans ...
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China's Jan-May industrial value-added output up 16.3%
(Jun 17, 2008) China's industrial value-added output for the first five months grew 16.3% from a year earlier, stated the National Bureau of Statistics (NBS). The industrial value-added output in May rose 16% year-on-year. The growth in April was 15.7%. The clothing and textile sector raised its industrial value-added output by 12.1% in ...
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CNOOC to trial run Hainan CO2 degradable plastics plant in July
(Jun 16, 2008) China National Offshore Oil Corporation (CNOOC) has invested RMB152 million in developing a carbon dioxide-synthesized degradable plastics plant in the Province of Hainan; a trial run is scheduled for July 2008. The project is included in the Hi-Tech Research and Development (863) Programme of China. Construction of the plant began ...
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Changhong Electric to raise RMB3 bn for R&D
(Jun 16, 2008) China's Sichuan Changhong Electric intends to issue convertible bonds worth RMB3 billion to boost investment and replenish liquidity. The company will use RMB1 billion of the sales proceeds to raise its stake in Sichuan Hong'ou Displays Devices Co Ltd. The fund will be mainly for research and development, production, and ...
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Hewlett-Packard to build a software testing base in Chongqing
(Jun 14, 2008) The U.S. information technology giant Hewlett-Packard (HP) opened a global testing service centre in the Xiyong Micro-electronics Industrial Park in China's city of Chongqing, Sichuan Province. Robb Rasmussen, vice president of HP, said this centre will hire 2,000 test engineers in three years to provide non-stop and comprehensive software testing ...
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Productivity Council helps companies transform, upgrade and relocate
(Jun 13, 2008) The Hong Kong Productivity Council (HKPC) has started the TURN project to help Hong Kong firms upgrade, transform, relocate and to tackle challenges brought by a change in processing trade policy. Andrew Leung, chairman of HKPC, said that TURN provides a one-stop platform, which gathers HKPC's professional knowledge and services, ...
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Guangdong-Vietnam trade unaffected by financial crisis
(Jun 13, 2008) Guangdong-Vietnam trade has not been affected much by the recent Vietnamese financial crisis. Bilateral trade surged 53.6% on year to US$1.25 billion during the first five months of 2008, the amount took up a 13.9% share in the overall Sino-Vietnamese trade in the same period. Guangdong exports to Vietnam soared ...
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Poll: Only 30% exporters can withstand a 4% Renminbi rise
(Jun 13, 2008) A Central University of Finance and Economics of China poll shows only 30% of exporters are able to withstand a 4% Renminbi appreciation. The report divided the appreciation range into five groups: 2% or below, 2%-4%, 4%-5%, 5%-6% and 6% or above. About 39.7% of the polled companies can tolerate ...
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