ChinaRealNews

Wuhan Iron and Steel’s profits for 2008 expected to reach RMB7.6 billion

2008-12-31 Wuhan

Wuhan Iron and Steel (Group) Corporation (WISCO) is expected to record sales revenue of RMB120 billion (approximately US$17.6 billion) this year, with profits reaching RMB7.6 billion (approximately US$1.1 billion), according to statistics from the company. Both of the company's production and sales revenue will set new records.
 

Banks refuse to lend money to 12 heavily-polluting enterprises in China

 2008-12-31 Beijing
 
To implement the green credit initiative, banks are demanding for debt payments from 12 heavily-polluting enterprises in China that have been blacklisted by the Ministry of Environmental Protection of China, and have suspended or refused to lend money to them, said a head at the Ministry. In July, the Ministry sent the blacklist of 30 polluters to leading financial institutions to starve “notorious polluters of the funds they need to operate”. 
 

Assets in Chongqing, China’s banking sector increase 600 times in 30 years

2008-12-31 Chongqing

Assets in the banking sector in Chongqing, China, have increased 600 times to more than RMB1,000 billion (approximately US$146.4 billion) over the past 30 years. In addition, the sector’s non-performing loan ratio has declined for seven consecutive years since 2001. It stood at 4.7 percent at the end of June 2008.

Sales in Chongqing’s equipment manufacturing sector up 32%

2008-12-31 Chongqing

Total industrial output value in Chongqing’s equipment manufacturing sector for the first 11 months of 2008 was US$10.8 billion, up 29.6 percent compared with the same period of last year. During the first 11 months of this year, the sector’s sales reached US$10.4 billion, a year-on-year rise of 32 percent.

China’s Shaanxi Automobile Group to export 3,200 heavy-duty trucks to Algeria

2008-12-31 Xi'an

China-based Shaanxi Automobile Group recently announced that it has received an order from Algerian firm EURL GM Trade for 3,200 heavy-duty trucks. The first batch of 500 trucks will be delivered to EURL GM Trade by the end of December 2008, with the rest expected to be delivered by June 2009.

Bank of Jinzhou opens Tianjin branch

2008-12-31 Tianjin

Bank of Jinzhou (formerly known as Jinzhou Commercial Bank), a Chinese bank based in Jinzhou, Liaoning province, recently opened its new branch in Tianjin. As of the end of August 2008, the bank reported some RMB 30 billion (approx US$4.4 billion) in deposits. In addition, the bank posted profits of RMB 450 million (approx US$65.7 million) during the first eight months of this year.
 

China to issue 1st human rights action plan early next year

2008-12-31 Beijing
 
China will release its first national action plan on human rights in early 2009, said Wang Chen, minister in charge of the State Council Information Office. “The document has concrete measures, including efforts in poverty reduction, protection of women and children’s rights, and (promoting) economic and social equality,” he said. The action plan is being drafted by a panel from the office and Foreign Ministry, joined by more than 50 departments, public associations and non-governmental organizations.

Dubai Ports World order 87 additional cranes from Shanghai Zhenhua

2008-12-31 Shanghai

Dubai Ports World (DPW) recently signed agreement with Shanghai Zhenhua Port Machinery Company in Shanghai to buy 87 additional cranes from Shanghai Zhenhua. The agreement is valued at US$343 million. DPW bought US$735 million worth of container cranes from the Chinese manufacturer between 2003 and 2007.

Natural rubber exports from Thailand to China up 35.6%

2008-12-31 Beijing

Information from the Ministry of Commerce of China shows that total value of exported natural rubber from Thailand during the first 11 months of 2008 were US$1,880 million, up 35.6 percent compared with the same period of last year. In addition, total value of other rubber products exported from Thailand to China during the first 11 months of this year reached US$463 million, a year-on-year rise of 22.3 percent.

Number of Chinese netizens reaches 290 million

2008-12-31 Beijing

Lou Qinjian, Vice Minister of Industry and Information Technology of China, said that, as of the end of November 2008, the number of Chinese netizens has reached 290 million. About half of the Chinese netizens access the Internet via ADSL.