Daily Updates

Daily Updates

China Southern Airline H1 Net Profit Rose 53-Fold

China Southern Airlines posted a net profit of 2.076 billion yuan, a gain of 5363 percent, boosted by strong demand for air travel.


China's Outbound M&As Rise 50Pct: PwC

Outbound merger and acquisition deals by Chinese companies rose more than 50 percent in the first half from a year earlier.

Outbound merger and acquisition deals by Chinese companies rose more than 50 percent in the first half from a year earlier, according to a report released by PricewaterhouseCoopers on Monday.

China Says Milk Powder Did not Cause Baby Sexual Precocity, Concerns Remain

The Ministry of Health said it had found no evidence of contamination in Synutra Milk powder after an investigation into reports that it had caused baby girls to show signs of premature sexual development.

Spokesman for the Ministry of Health Deng Haihua told a news conference
Sunday that the ministry had found no evidence of contamination in Synutra Milk
powder after an investigation into reports that it had caused baby girls to show
signs of premature sexual development.

ICBC to Issue $25Bln CBs on June 18

The ICBC plans to issue $25 billion A-share CBs and raise up to 45 billion yuan via a rights issue in Shanghai and Hong Kong.

Industrial and Commercial Bank of China (601398.SH/001398.HK), the world's largest lender by market value, is planning to issue $25 billion convertible bonds on Wednesday.

The issue would get approval from China Securities Regulatory Commission with no suspense, according to analysts, and will affect the price of the CBs in a short term.

China State-Owned Assets in Central SOEs Grow to 2Tln Yuan

The state-owned assets in China’s centrally-administered state-owned enterprises (SOEs) reached 2.01 trillion yuan ($297.4 billion) as of June 30, up 10.71 percent.

The state-owned assets in China’s centrally-administered state-owned enterprises (SOEs) reached 2.01 trillion yuan ($297.4 billion) as of June 30, up 10.71 percent, or 194.75 billion yuan from 2008, the official Xinhua news agency reported Thursday, citing the State Property Management Commission of the State Council.

Rich Country, Poor People?

Controversies regarding this question are triggered again after the Ministry of Finance Wednesday issued glamorous statistics showing that China's fiscal revenue for the first seven months surged 25.7percent to five trillion yuan.

By Caijing reporter Zheng Meng

3Pct Target in CPI is not a Warning Line: Official

The 3 percent target set by the government in 2008 should not be judged as a warning line.

Officials from China’s top economic planner said Thursday the 3 percent target set by the government should not be judged as a warning line, when interviewed by Caijing reporters.

Death Toll Rises to 1117 in Gansu Landslides, Human Factors cannot be Ruled out

Fresh rains hit Zhouqu County, in northwestern China’s Gansu Province that was devastated by landslides, as death toll continues to rise;human factors cannot be ruled out.

A soldier is trying to rescue a victim buried under the collapsed building.

CPI to Drop in H2, No Need for Interest Rate Hike: Economists

The year-on-year 3.3 percent increase in CPI for July is moderate, compared with the forecasted GDP growth of 9 percent for the whole year.

China’s inflation pressures may ease as the role of short-term factors which have driven up the consumer price index by 3.3 percent year-on-year in July, is weakening in the next half of the year, according to economists.

World Oil Demand Rises to 85.91Mln bpd This Year: EIA

World oil demand is expected to rise 1.57 million bpd this year to 85.91 million bpd.

World oil demand is expected to rise 1.57 million bpd this year to 85.91 million bpd, a gain of 1.9 percent, said the Energy Information Administration Tuesday in its new monthly report.

The EIA also raised its 2011 world oil demand growth estimate by 1.51 million from 2010 to 87.42 million bpd.