| Real-estate developers pare prices (Reprint) |
| Submitted by robert on 8/27/2008 4:54:52 PM on Choose a News category |
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Real-estate developers are offering discounts at more residential projects across Shanghai,even in prime locations ?as home buyers tighten the purse strings."Price wars already seem inevitable as transaction volume of commodity houses has been low in Shanghai for quite some time amid a prevailing wait-and-see attitude," said Xue Jianxiong, head of research at Shanghai Uwin Real Estate Information Services Co, a major tracker of the city’s property data. "Most d... |
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| ’Asymmetric’ mobile norms to give level... (Reprint) |
| Submitted by robert on 8/27/2008 4:54:53 PM on China Sci-Tech News |
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China may introduce "asymmetric regulations" for the telecommunications industry to protect the interests of smaller companies like China Unicom and China Telecom after the recent industry reorganization, top telecommunications executives said yesterday."Asymmetric regulations" like enforcing a mobile market share ceiling and asymmetric mobile number portability have been adopted by other countries to give every company a level playing field.However, China... |
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| Competitors pluck Ningbo Bird’s profits... (Reprint) |
| Submitted by robert on 8/27/2008 4:54:53 PM on China Sci-Tech News |
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Ningbo Bird Co, once the No. 1 Chinese-brand handset maker, continues to suffer on the profit front as the result of stronger competition.The company reported yesterday that it lost 22.08 million yuan (US$3.2 million) in the first half in a market that Nokia, Samsung and other Chinese manufacturers now dominate.The Shanghai-listed phone maker has begun shutting down subsidiaries to cut costs and improve profitability, but it is still expected to lose money in the third quarte... |
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| Baosteel pares prices as demand wanes (Reprint) |
| Submitted by robert on 8/27/2008 4:54:55 PM on China Business News |
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Baosteel Group Corp., China’s largest steelmaker by output, has cut prices in response to low off-season sales in July and August and a cooling economy that has dented demand. The cuts would apply to October and perhaps the entire fourth quarter, depending on demand. Steel prices cuts aren’t unusual in China at that time of year, however, and the reductions might only be temporary. As the industry leader, the Shanghai-based company often sets price trends for the sector. It s... |
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| Gold shares lose luster (Reprint) |
| Submitted by robert on 8/27/2008 4:54:56 PM on China Business News |
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Shandong Gold Mining Co shares tumbled yesterday in Shanghai as sparkling interim profits failed to offset falling prices of the precious metal.Analysts said investors shouldn’t panic and sell their shares because the gold miner has strong growth potential in 2009 and 2010. They’re recommending "add" or "buy."Shares in China’s third-biggest bullion producer fell 4.84 percent to 35.39 yuan (US$5.18) in Shanghai yesterday, while the benchmark Shanghai Compos... |
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| Jan-July growth in China textile output... (Reprint) |
| Submitted by robert on 8/27/2008 4:54:57 PM on China Business News |
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The rate of growth in the output of major textile enterprises slowed sharply, to single-digit levels in some cases, in the first seven months of 2008, the China National Textile and Apparel Council said on Monday.The council said the deceleration reflected slowing textile exports and a cooling global economy.From January to July, chemical fiber production rose 4.76 percent from a year earlier, but that was 13.23 percentage points less than the growth rate during the same seve... |
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| Growth in China clothing exports contin... (Reprint) |
| Submitted by robert on 8/27/2008 4:54:57 PM on China Business News |
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Foreign sales of Chinese textiles and garments grew at a single-digit pace in the first seven months, compared with the year-on-year growth rate of 24.4 percent for the same period last year, the General Administration of Customs said on Tuesday.Mounting production costs and weak demand abroad combined to account for the slowdown, industry observers said.Between January and July, China exported 100.36 billion U.S. dollars worth of textiles and garments, up 7.67 percent, but w... |
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| Rebate offers short-term boost (Reprint) |
| Submitted by robert on 8/27/2008 4:54:59 PM on China Business News |
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Major Chinese textile companies have said that the recent adjustment in tax rebates will lead to increased profits in the short term, but the long-term impact would be limited.Jiangsu Sainty Corp Ltd, a major exporter of garments based in Jiangsu province, said in an announcement: "The export tax rebate adjustment will increase the profitability of contracts signed before in the short term," but will have "no major influence" on the company’s profits for t... |
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