The third China-made advanced regional jet carried out its maiden flight here on Sunday, bringing the ARJ21 model one step closer to secure airworthiness qualifications from home and abroad. The trial flight of the ARJ21-700 at an altitude of 3,000 meters and a speed equivalent to 318 kilometers per hour began at 1:21 p.m. and [...]
Posts under ‘Business China’
Ophone Vs iPhone
A new mobile phone is launched today in China which could threat the dominating position of Apple’s iPhone. China Mobile, the world’s biggest wireless carrier, launched Monday its own mobile phone operating system that can support its homegrown 3G standard along with a new phone called “Ophone”. Ophone is the world’s first mobile phone operating [...]
China Has a Higher Concentration of Wealth Than the US
Gap between rich and poor in China has been increased dramatically. A recent report showed that 0.4% of Chinese hold 70% of the overall wealth in China. The concentration of wealth is greater than the United States.
The study indicates the extremely high concentration of wealth would lead to the abnormal consumption and social [...]
Warren Buffet Invites China to Display Electric Cars at Shareholder Meeting
China’s BYD Auto accepted Warren Buffet’s invitation to display its electric cars in the United States in May. Buffet will hold a general meeting of shareholders in Omaha, Neb on May 2. BYD is China’s leading company in electric car manufacturing. BYD president Wang Chuanfu will be demonstrating F3DM or E6 model to the shareholders [...]
Coca Cola Failed To Acquire China Huiyuan Juice Group due to China Anti-monopoly Law
Coca-Cola offered to buy Huiyuan, China’s largest juice maker, for 2.3 billion U.S. dollars (17.92 billion Yuan) in cash on Sept. 3.
The Chinese Ministry of Commerce announced on Wednesday (March 18th, 2009) that Coca-Cola’s bid to acquire China Huiyuan Juice Group failed to meet the country’s anti-monopoly law. The ministry found the transaction may disturb [...]
China Achieves 8% GDP Growth in 2009
Despite the global financial chaos, the spokesman in the Second Session of the 11th National Committee of the Chinese People’s Political Consultative Conference (CPPCC) announced today that China will achieve an 8% GDP growth in the year 2009. In order to do so, China will try all means to boost domestic demand and submitted many [...]
China Construction Bank releases $5.8 billion bonds
China Construction Bank (CCB), recently ranked top 2 bank in the world released the information that it has issued 5.8 billion U.S. dollars (40 billion yuan) of subordinated callable bonds. The lender originally planned to issue 4.3 billion U.S. dollars (30 billion yuan), but it exercised the over-allotment option of increasing [...]
30 ARJ Jets to be Delivered 2012
ARJ stands for Advanced Regional Jet which is going to be the name of the first generation of Chinese homemade commercial jets. China’s has started mass production of the the ARJ21 this year. Thirty ARJ planes are expected to be delivered to clients by 2012. The plane manufacturer will deliver the first five planes in [...]
China’s Auto Sales Supass USA
China sold 735,500 units of vehicles in January 2009. The number far surpasses the sales in the US where monthly sales plummeted 37% from last January to 656,693 vehicles, the worst since 1963.
China produced 658,800 units of vehicles last month, a 20.22 percent drop compared with a year earlier, but an increase of 5.07 percent [...]
Four Chinese Banks Ranked in Top 10 Banks of the World
A recent study revealed the top ten banks in the world based on their global market value. Among them, there are four banks from China. The top three are all Chinese banks. Here’s the list of the top 10 banks in the world: Industrial and Commercial Bank of China, China Construction Bank, Bank of China, [...]