ChinaRealNews

Inner Mongolia First Machinery Group signs sucker rod contract with CDI Energy Services

2009-04-30 Huhhot

Inner Mongolia First Machinery Group recently signed a new 3-year contract with CDI Energy Services, First Machinery Group will supply sucker rods to the latter between 2009 and 20011. CDI, which started cooperation with First Machinery Group in 2007, has imported a total of more than 700,000 sucker rods from the later.

Consumption of HK visitor arrivals from mainland up 44%

2009-04-30 Hong Kong

According to a recent survey by Hong Kong Polytechnic University, which covers more than 2,600 local consumers and visitor arrivals from mainland and other regions, only less than 10 percent of local consumers think they have sound finance, which led to lower consumption. However, the consumption expenditure of visitor arrivals from mainland increased 44 percent on a per-purchase basis than that of the previous survey.

Hebei province’s insurance sector makes good start in Q1

2009-04-30 Shijiazhuang

According to statistics released by Hebei Insurance Regulatory Bureau, the province generated RMB17.7 billion (US$2.6 billion) from insurance premiums during the first quarter of 2009, a year-on-year increase of 28.5 percent and 18.5 percentage points higher than the country-wide average. Of the total, property insurance business recorded RMB3.6 billion (US$527 million), a rise of 21.5 percent from a year before, while life insurance business gained RMB14.1 billion (US$2 billion), soaring 30.4 percent over a year prior. For the same period, total assets among the province’s insurers amounted to RMB87.3 billion (US$12.8 billion), a year-on-year growth of 27.6 percent.

Jiangsu province produces 20 percent more vehicles in Q1

2009-04-30 Nanjing

Automakers from China’s Jiangsu province produced 99,000 vehicles during the first quarter of 2009, increasing 21.3 percent from 77,000 units in the same period of a year earlier. Retail sales totaled approximately RMB23 billion (US$3.37 billion), a year-on-year rise of 11.1 percent. However, profits generated from the sector in the first two months plunged 61.2 percent over the corresponding period of a year prior due to the current financial downturn, well above the average of 8 percent across the province’s entire machinery and equipment sector.

Tahe oilfield’s crude oil output excesses 1.5 million tons in Q1

2009-04-30 Urumchi

Tahe oilfield, China’s second largest oilfield located in Xinjiang province, produced 15.7 million tons of crude oil in the first quarter of this year, an increase of 131,800 tons from 14.4 million tons during the same period of last year. Natural gas production amounted to 288 million cubic meters, a rise of 28 cubic meters over a year before. As one of the country’s fastest developing oilfields in terms of oil and gas output, Tahe’s production of crude oil is expected to reach 10 million tons by 2010.

China's Henan province sees 12% rise in real estate investment for Q1 2009

2009-04-29 Zhengzhou

According to Henan Provincial Bureau of Statistics, China’s Henan province completed a total investment of RMB18.6 billion (US$2.7 billion) in real estate development during the first quarter 2009, up 12 percent year-on-year, including RMB14.4billion (US$2.1 billion) in residential buildings, a rise of 12.3 percent over the same period of last year. For the quarter, sales of commercial housing in the province fell at a slower pace of 2.4 percent, 17 percentage points lower than that for the first two months of this year.

Anshan Steel expected to win approval for investment in Australia Gindalbie within a Month

2009-04-29 Shenyang

Anshan Iron & Steel Group may receive approval from Australia for its AUD 162 million (approx.US$114 million) investment in Perth-based Gindalbie Metals within a month. Garret Dixon, CEO of Gindalbie said in a statement to the Australian stock exchange that "We firmly believe the application will be approved." Gindalbie and Anshan will hold a media briefing in Perth at 11:30 AM local time. Mr Dixon added Gindalbie's Karara project in Western Australia won't be affected by a forecast decline in iron ore prices this year.

China's Baoding sees decreased exports in Q1

2009-04-29 Shijiazhuang

Affected by the financial crisis, Baoding, Hebei province, China recorded a year-on-year decrease of 9.8 percent in combined imports and exports to US$814 million during the first quarter of 2009. Imports rose 75.9 percent to US$329 million, while exports fell 32.2 percent to US$485 million, this being the first decline since 1997.

First China-made A320 to make test flight in May

2009-04-29 Tianjin

The first Airbus A320 aircraft assembled in China is scheduled to make a test flight during the last two weeks of May. The aircraft is expected to be delivered to Sichuan Airlines for operation through Dragon Aviation Leasing at the end of June. By the end of this year, the Airbus final assembly plant in Tianjin is expected to deliver a total of 11 Airbus aircraft, including six A320 planes and five A319 planes.

PEMGroup sells US$700 million worth of securities in Taiwan

2009-04-29 Taibei

Private Equity Management Group (PEMGroup), implicated by the U.S.SEC in alleged fraud, sold a total of approximately US$700 million worth of financial products to investors in Taiwan through local banks. Taiwan’s Financial Supervisory Commission compiled the total after talking to six Taiwanese banks that are known to have distributed products by PEMGroup.