ChinaRealNews

Liaozhong focuses on coastal economy

2008-08-29 Shenyang
 
Liaozhong County experienced rapid growth through developing the coastal economic zone. For the first half of 2008, the social fixed assets investment in Liaozhong achieved RMB3.27 billion, up 91.3 percent year-on-year. The county has invested more than RMB500 million to build facilities in the coastal economic zone since more than one year. To date, the number of project worth more than RMB30 million in the zone has reached 37.
 

Zhaotong’s industrial economy experience fast growth

2008-08-29 Kunming
 
The industrial economy in Zhaotong, Yunnan, involving 19 sectors such as tobacco, energy, nonferrous metal and chemical, has experienced fast growth in recent years. The city’s industrial added value achieved RMB7.53 billion in 2007, accounting for 33.4 percent of the city’s gross output. In addition, the city has improved its industrial structure, which will further promote the development of the city’s economy.
 

Genetically modified foods should be labeled in Chinese from September

2008-08-29 Beijing
 
The Provisions for the Administration of Food Labelling, promulgated by the General Administration of Quality Supervision, Inspection and Quarantine of China, will be effective on September 1, 2008. Under new regulations, genetically modified foods should be labeled in Chinese. In addition, food labels could not shall not contain any express or implied information about medical efficacy or contain words such as “relieving cough and eliminating phlegm”, “relieving internal heat” and “improving memory”.
 

China Petroleum & Chemical Industry Association report: oil and chemicals industry ran well in July

2008-08-29 Beijing
 
According to the recent report from the China Petroleum & Chemical Industry Association, China’s oil and chemicals industry ran well in July, with both production and exports seeing growth. During the month, national oil production in China reached 16.17 million tons, up 5 percent year on year, the highest increase since the beginning of the year. 

FMCG companies fight against inflation through hedge transactions

2008-08-29 Beijing
 
In view of the drastic fluctuations in commodity prices, food and consumer goods multinationals are planning to fight against inflation through hedge transactions. Rick Hughes, vice-president of global purchases at Procter & Gamble, which hedges all kinds of commodities, said that the company has gone longer and hedged a broader portion of its portfolio. Unilever created a position of chief purchasing officer a few months ago. Kellogg's has hedged 90 per cent of its raw material exposure this year and PepsiCo said it is also hedging more.

Fujian sees fast growth of optoelectronic industry

2008-08-29 Fuzhou
 
Fujian Optoelectronic Industry Association will be established today, marking a milestone for the development of the sector in the province. Statistics from the province’s information industry department show that the optoelectronic industry has become one of the fastest growing sectors in Fujian, with value reaching approximately RMB70 billion in 2007. Establishment of the association will further boost the development of the optoelectronic sector.
 

Nanjing Tanker reports strong interim results

2008-08-29 Nanjing
 
Nanjing Tanker Corporation recently announced its interim results. The company reported profits of RMB393 million, a year-over-year growth of more than 300%. Nanjing Tanker, a subsidiary of China Changjiang National Shipping (Group) Corporation, has maintained strong growth momentum since its listing.
 

FAW Car’s capacity expansion project started

2008-08-29 Changchun
 
On 27 August, FAW Car held a groundbreaking ceremony for its capacity expansion facility located in the Changchun National High-Technology Industry Development Area. The facility is established with the aim of expanding the capacity for FAW Car’s self-developed models. With a total investment of some RMB 2.5 billion, the facility is scheduled to be completed in 2010.
 

Dongfeng Motor’s gross profits rise 31% in first half year

2008-08-29 Beijing
 
Dongfeng Motor Co., Ltd announced combined sales were approximately 37.9 billion yuan in the first half of this year, a year-on-year growth of 31.5 per cent. Combined gross profits increased 31 per cent to approximately 6.5 billion yuan during the period. In addition, the company sold 587,400 vehicles in the first half, an increase of 27.7 per cent. Dongfeng Motor expects the Chinese auto industry will grow 15 per cent this year, with total sales volume exceeding 10 million.
 

Dalian equipment manufacturing industry reports strong results

2008-08-29 Shenyang
 
Dalian, one of the largest automotive motor and part manufacturing bases in China, saw a rapid growth in the equipment manufacturing industry in the first half of this year. Data show the industrial value added of industrial enterprises whose annual sales surpassing RMB5 million increased 2.9 percentage points from a year earlier in the city in the first half. The equipment manufacturing industry achieved a value added of RMB30.1 billion at the same time, an increase of 27.5% from a year earlier.