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July 2005
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| CHINA
BY THE NUMBERS |
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| CHINA
BUSINESS HEADLINES |
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Backlash Ends Chinese Bid for Unocal
China's CNOOC Ltd. on Tuesday (8/2) abandoned a bold $18.5 billion offer to
acquire Unocal Corp. in the face of strident political opposition, clearing the
way for the U.S. oil producer to conclude a deal with larger U.S. rival Chevron
Corp...
[More]
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China Launches Currency Shake-up
China has revalued its currency, the yuan, for the first time in a decade - a
move welcomed by the US, a long-time critic of its exchange-rate policy...
[More]
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China Downplays More Yuan Moves
China's central bank said on Tuesday(7/26) that last week's 2.1 percent
revaluation of the yuan did not mean there would be further adjustments to the
currency...
[More]
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World's Largest Power Grid Begins Operation in China
China has successfully connected power grids for its northern, northwestern and
central regions to form a huge integrated power grid, a local official in charge
of power supply in central China's Henan Province said on Wednesday...
[More]
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1/3 China's Copper Consumption Comes from Recycled "Waste Copper"
Nearly one third of China's copper consumption comes from recycled waste and
mixed coppers, said an official with the Chinese society of non-ferrous metals
industry Saturday...
[More]
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| QUOTES
OF THE MONTH |
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"CHINA isn't an option. It's essential. It's our No. 1 priority," says John
Beystehner, chief operating officer at UPS.
[More]
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| DID
YOU KNOW? |
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| COMPANY
IN ACTION |
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UPS Says China Is Company's Top Priority
UPS Inc., the world's largest shipping carrier, said that China is the company's
top priority and that the American firm was expanding flights and facilities in
the Asian nation that has become a manufacturing powerhouse...
[More]
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China's 'Google' Readies for Float
Baidu.com takes its name from a 900-year-old poem but its ambitions are
ultramodern -- to become the Chinese-language equivalent of Internet search
giant Google Inc...
[More]
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Billionaire Mittal Breaks Into China
Mittal Steel may have been pipped at the post by Russian coal and steel company
Evraz Group for the Czech Republic's major steel maker, Vitkovice Steel, but the
company's CEO and world's third richest man, Lakshmi Mittal, didn't make his
money by hanging around licking his wounds...
[More]
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World's Largest Home Improvement Retailer Due to Set up Presence in Shenzhen
Bill Patterson, Asia-Pacific President for Home Depot, the worldĄŻs largest
home improvement retailer from the US, said his company would acquire a 20,000
to 30,000 square meter piece of land in Nanshan District, Shenzhen to open its
first standard outlet in China...
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Wal-Mart to Nearly Double Stores in China
Wal-Mart Stores Inc., the world's biggest retailer, plans to open another 42
stores in China by the end of next year, nearly doubling its presence in the
country, a senior company official said Monday...
[More]
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| MAGNIFYING
GLASS |
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Wal-Mart's China Card
With crude oil hovering around $60 a barrel due in part to China's growing
appetite for oil, natural gas, and gasoline, it's no surprise that Beijing is
shopping for energy resources. Still, the $18.5 billion cash bid by CNOOC Ltd.,
an energy company 70% owned by the Chinese government, for Unocal Corp., based
in El Segundo, has raised alarms in Washington and calls for President George W.
Bush to intervene on national security grounds...
[More] |
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