China News Direct

 
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CNR Tangshan makes the first 350km/hr train
(Apr 12, 2008) China's first homemade CR-H3 multiple unit train, with maximum speed 350 kilometers per hour, produced by CNR Tangshan Railway Vehicle Co. Ltd has its maiden run on April 11. China is now one of the countries that can produce express railway mobile units that travel at a speed of over ...
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GCL-Poly Energy sees '08 capital expenditure of RMB680mn
(Apr 12, 2008) GCL-Poly Energy Holdings, a Hong Kong-listed Chinese power company, sets RMB680 million for 2008 capital expenditure. Power plant redevelopment and expansion will take RMB470 million of which and the rest RMB210 million will be for acquisitions. Total capital expenditure for 2009-2011 will be RMB920 million, but that will exclude capital ...
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Sinotrans working on subsidiary capital injection
(Apr 11, 2008) Sinotrans Group CEO Zhou Huxiang says the Group will not merge its two listed subsidiaries of Sinotrans Limited and Sinotrans Shipping Limited into one. Parent company Sinotrans Group injected capital into Sinotrans Limited in October 2007 for the first time. The injection included cash of RMB1.1 billion and freight agencies, ...
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Guangdong Nuclear raises RMB100bn loan for two plants
(Apr 11, 2008) China Guangdong Nuclear Power Group (CGNPC) signs an underwriting agreement on a syndicated loan of RMB100 billion with the China Development Bank and the Bank of China in April. The syndicated loan will be used to fund two nuclear power plants in the cities of Taishan and Yangjiang in Guangdong. ...
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Huaneng to build RMB8bn Shaanxi coal-power project
(Apr 11, 2008) The China Huaneng Group will invest RMB8 billion in a coal-power integration project in the county of Heyang in Shaanxi province. The Group will co-develop the power plant with the municipal government of Weinan. Huaneng and the municipal government reached the project agreement in April which includes building a power ...
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Shenzhen speeds up social and infrastructure developments
(Apr 10, 2008) The Shenzhen Municipal People's Government will speed up urban infrastructure and social developments for livelihood improvement, says mayor Xu Zongheng on 9 April. Major tasks of the municipal include controlling consumer prices, solving traffic congestion, promoting social security, environmental protection and ecological developments. About RMB55.49 billion will be allocated to ...
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MTR still keen on Shenzhen Metro Line 3 project
(Apr 10, 2008) Hong Kong's MTR Corporation is still interested in participating in construction of Shenzhen Metro Line 3. It is rumoured in early 2008 that MTR has decided to withdraw from the construction of Metro Line 3 as it cannot secure the property development right of the project. Although construction of Shenzhen ...
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Jilin promotes 315 investment projects in HK
(Apr 10, 2008) The province of Jilin is promoting 315 investment projects at the 2008 Hong Kong-Jilin Business Partnership Forum held on 9 April. The investment projects cover auto parts, fine chemicals, produce processing, bio-pharmaceutical, opto-electronics, urban infrastructure, modern logistics and tourism. The Jilin Provincial People's Government has signed a cooperation agreement on ...
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Yunnan and Hong Kong signed HK$80bn investment contracts
(Apr 10, 2008) Twenty-four investment contracts worth HK$80 billion were signed at the Yunnan-Hong Kong Conference on Deepening Service Trade Cooperations held from April 8 to 10 in Hong Kong. The investment projects were in the 10 areas of finance, logistics, travel, culture, property, energy development, urban infrastructures, produce plantation and processing, transportation ...
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Subprime crisis won't impact Asian markets
(Apr 10, 2008) Fidelity Investments (Hong Kong) says strong domestic demand growth and infrastructure investment of emerging markets would lift them above the US subprime crisis impact. The US market, suffering from the subprime crisis, accounts for a mere 17% share of Asia's export trade in 2008, sharply down from the 21% in ...
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