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Impreza XV Vehicle Impreza XV Vehicle(0)

Fuji already sells four models in China; its sales rose 95.9 percent to 35,348 units in 2009, Nikkei said.

Source : Konaxis

Hyundai Heavy Wheel-Loader Factory Hyundai Heavy Wheel-Loader Factory(0)

The plant, to be completed by April 2011, will have an annual production capacity of 8,000 units, the Ulsan, South Korea-based company said in an e-mailed statement today. Hyundai Heavy aims to sell more than 10,000 wheel loaders annually in China within five years, the company said.

The Korean company will also seek to expand into Brazil, Middle East and Africa, it said, without providing details.

Source : Konaxis

China’s Economic Growth Slows China’s Economic Growth Slows(0)

A statistics bureau spokesman, Sheng Laiyun, said despite the decline, growth is “very high” and within the government’s target range. The official growth target for the year is 8 percent, which analysts say China easily should achieve.

Sheng said lower growth would help Beijing’s effort to boost domestic consumption and reduce reliance on resource-intensive investment and exports to drive growth.

June growth in factory output slowed to 13.7 percent, down from May’s 16.5 percent rise. Growth in retail sales and investment in factories and other fixed assets also eased.

June exports rose 35 percent over a year earlier but analysts expect Europe’s debt crisis to crimp trade. A survey earlier by a Chinese business group found manufacturing activity in June fell for a third month as foreign orders declined.

June inflation eased to 2.9 percent over a year earlier, falling back below the government target of 3 percent for the year after prices rose 3.1 percent in May.

Also Thursday, the government said foreign direct investment in China rose 39.6 percent in June over a year ago to $12.5 billion.

Thursday’s data also showed investment still is growing faster than retail spending despite efforts to promote domestic consumption. Retail sales rose 18.2 percent in the first half but spending on factories and other fixed assets jumped 25 percent.

Source : Konaxis

Huadian Energy Heilongjiang Huadian Energy Heilongjiang(0)

Huadian expects a 148 million yuan loss in the first half on a surge in coal prices, the Chinese electric company said in a separate statement.

Source : Konaxis

Shanghai pass Singapore Port Shanghai pass Singapore Port(0)

Shanghai handled more containers between April and June, the report said, citing data compiled by port authorities. In the first six months of this year, Singapore moved 14.05 million 20-foot standard containers and Shanghai 13.85 million, it said.

Source : Konaxis

Property Prices Slow in June Property Prices Slow in June(0)

Housing prices in 70 major cities rose 11.4 percent year-on-year in June, the National Bureau of Statistics said on its website, down from the 12.4 percent rise seen in the previous month.

The figure hit 12.8 percent in April, the biggest on-year rise for a single month since July 2005, when the survey was widened to 70 cities from 35.

The prices in June fell by 0.1 percent from May, official data showed, the first month-on-month decline since March last year, according to experts.

Chinese media reports have said a property tax could be imposed on a trial basis in Beijing, Shanghai, the southwestern mega-city of Chongqing and the southern city of Shenzhen.

Qin Hong, a senior researcher at the housing ministry, said China would impose the tax “at an appropriate time” as a “long-term measure” to regulate the sector, the official Securities Times reported Monday.

China currently has no such levy on residential property but does impose a 1.2 percent tax on 70-90 percent of the value of commercial real estate.

Source : Konaxis

Apple Opens Second Store in China Apple Opens Second Store in China(0)

Several hundred people lined up outside a 40-foot cylindrical glass wall that contains the Apple logo at the 1,500-square-meter store in the Pudong district of Shanghai, China?s financial hub, before it opened at 10 a.m. local time.

Apple is expanding its network to reach more customers in China, where its sales trail Nokia and Lenovo, and said this week it plans ?many? more Apple stores for China. The company?s first China store opened in Beijing in July 2008.

Unlicensed distributors sold more than 2 million iPhones on a so-called gray market, according to Sandy Shen, an analyst at Gartner Inc. in Shanghai. China Unicom (Hong Kong) Ltd., the only authorized Chinese carrier offering the smartphone, sold fewer than 1 million, she said.

Source : Konaxis

China Appliance Makers China Appliance Makers(0)

Guangdong Galanz Enterprise Co., the world?s largest microwave-oven maker, will miss its earlier full-year profit estimate because of the yuan?s appreciation and rising labor costs, the paper said, citing the company?s export director Jackie Liu. Almost 60 percent of the company?s output is exported and labor costs have risen 50 percent, he said.

Galanz is now seeking export prices based on an exchange rate of 6.77 yuan to the U.S. dollar from a previous 6.83 yuan, he said.

Haier Group Co. may increase prices to offset the pressure of currency appreciation, the English-language newspaper said, without citing anyone.

Source : Konaxis

Railway China Pakistan Railway China Pakistan(0)

The move suggests that Chinese leaders are seriously considering plans to connect Pakistan with rail that would run through the difficult terrain near the Karokoram Highway, which connects Khunjerab Pass with Chinese towns including Kashgar. Indian strategic experts see the proposed railway plan as a serious military infrastructure close to the Indian border, sources said.

Zardari on Wednesday told a group of officials from the China Northern Railways Corporation that Pakistan was keen to build several new lines for access to the Central Asia, West Asia and Chinese markets. He requested CNR to form a consortium with Pakistan Railways to give shape to the plans.

The announcement makes Kashgar in Northwest China’s Xinjiang Uygur Autonomous Region, the sixth special economic zone in China. This will mean preferential policy support for development of new industries in the city. This will mean a growing market for Pakistani exports.

Source : Konaxis

China Meat Giant NZ Firms China Meat Giant NZ Firms(0)

The deal is the first agricultural contract to emerge from the free trade agreement with China and was confirmed during last month’s Chinese delegation to New Zealand.

New Zealand companies FoodCap and Te Mania Livestock will sign a co-operation agreement with Kerchin Wednesday in Beijing. Prime Minister John Key and Chinese Premier Wen Jiabao are expected to attend.

The deal will open the way for FoodCap to establish distribution plants in key parts of China and the collaboration with Te Mania Livestock could improve the beef breeding stock of Kerchin’s herd in Inner Mongolia.

It will also open the door for New Zealand meat, such as lamb, venison and beef, to be exported to complement the Chinese meat industry.

FoodCap claims its patented technology can offer benefits, including food safety and security, traceability, improved meat yields, reduced handling and packaging costs and improved environmental impacts.

FoodCap monitors the temperature of the products to ensure they remain fresh and to a standard of high food hygiene.

Te Mania has been breeding Angus cattle for more than 80 years.

Source : Konaxis

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