Battery plant manager arrested over lead poisoning

The general manager of a battery plant in Zhejiang province was detained on Friday after lead emissions poisoned 168 villagers, including 53 children, Reuters reported. Three government officials,

Chinese port rejects Japanese ship over radiation concerns

China declined to harbor a Japanese ship after “abnormal” amounts of radiation were detected on the deck and surface containers, Bloomberg reported.

IMAX aims to open 75 new screens through China joint venture

IMAX Corp (IMAX.NYSE, IMAX.TSX) will partner with local firm Wanda Cinema Line to open 75 new screens in China by 2014, the Wall Street Journal reported. There are currently 35 IMAX

Baidu develops web browser to rival Microsoft, Google

Baidu (BIDU.NASDAQ), which runs China’s most popular internet search engine, saw its stock reach record levels on Friday after the company confirmed that it is testing web browsing software for personal computers,

Sinopec looks for ways to counterbalance falling refining profits

China Petroleum & Chemical Corp (Sinopec; SNP.NYSE, SNP.LSE, 600028.SH, 0386.HK) plans to cut costs and accelerate overseas expansion as it struggles with government restrictions preventing it passing on higher crude oil prices to customers,

Santander, CCB to set up rural banking business

Spanish lender Banco Santander (STD.NYSE, BNC.LSE, SANT.Euronext, SAN.BMAD, SANT.BIT) has agreed to take a 19.9% stake in a joint venture with China Construction Bank (CCB; 601939.SH, 0939.HK) which will set up “village and town banks,” the

Toxic sludge floods cropland in Guangdong

An enormous 4,500 cubic meter wave of toxic sludge has flooded a large area of farmland in Guangdong province, killing all the fish in a nearby river, the

China Resources Enterprise to expand consumer market share

China Resources Enterprise (0291.HK) announced yesterday that profits doubled in 2010 and it is now preparing to acquire complementary companies in its core business lines to accelerate growth, Dow Jones reported.

China smoking ban to start May 1

The central government announced yesterday that smoking cigarettes will be banned in public places as of May 1 this year, AFP reported. The

China corn imports to hit 15-year high

China is set to import 2.5 million tons of corn this year, the most in more than 15 years, putting further upward pressure on corn futures, the Financial Times reported, citing projections

China hedge funds still raking in funds

China-focused equity funds continue to attract investment despite mediocre performance, Dow Jones reported, citing a report by HedgeFund.net. The report said China funds added US$3.5 billion in assets in 2010, up

Prices for Chinese rare earths break through $100,000 per ton

The price of China’s exports of rare earth metals are up almost ninefold year-on-year to US$109,036 per ton free on board, Reuters reported. The rapid increase in price is due to the central

CGNPC may abandon Kalahari bid

State-owned China Guangdong Nuclear Power Corp (CGNPC) may drop or reduce its US$1.2 billion bid to acquire uranium miner Kalahari Minerals (KAH.LSE) in light of the Japanese nuclear disaster, Reuters

Cushman: China’s affordable housing plan faces finance challenge

Andy Zhang, China managing director for real estate firm Cushman & Wakefield, said Beijing will face significant challenges in implementing its plan to build 36 million affordable homes in the next five years,

Geely profits up 16% in 2010

Geely Automobile Holdings (0175.HK) announced yesterday that net profits rose 16% last year in the face of intensifying competition in the auto sector, the Wall Street Journal reported.

Sands China terminates Macau deal with Shangri-La

Casino operator Sands China (1928.HK) said today that it has ended a hotel-management deal with Shangri-La Asia (0069.HK) to operate a casino at a new development in Macau, Dow Jones reported. Sands China is

Golden Dragon Precise Copper Tube to list IPO for $533m in Shanghai

China’s Henan Golden Dragon Precise Copper Tube said it plans to raise RMB3.5 billion (US$533.72 million) in an IPO, Reuters reported, citing a report in Shanghai Securities News. Golden Dragon

China’s big banks set to unveil record profits

China’s largest banks are set to record record profits for the fourth consecutive year based on an average 29% growth in earnings driven by strong credit demand, Bloomberg

New rules target underhanded property sales tactics

The National Development and Reform Commission (NDRC) told property developers and real estate agents not to use "underhanded" methods to sell property, the

US: Chinese policy blocks up to $5bn in farm sales

The US International Trade Commission released a report suggesting that the US could sell China US$5 billion more in agricultural products if Beijing eliminated standing trade barriers, the

Amcham: US business still profitable in China, climate worsens

More US businesses in China said they were profitable last year but are increasingly pessimistic about the investment climate, Bloomberg reported, citing a report

Foreign Ministry: Google’s claim that China is blocking gmail is "unacceptable"

The Chinese Foreign Ministry said yesterday that Google’s (GOOG.NASDAQ) accusations that the government is blocking Gmail are "unacceptable," the

COSL profits up 32% on expanded oil exploration

China Oilfield Services Ltd (COSL; 2883.HK), a subsidiary of state-owned energy giant China National Offshore Oil Corp (CNOOC; 0883.HK), enjoyed a 32% increase in profit as CNOOC – which is also COSL’s biggest customer – expanded exploration activ…

China Telecom reports slower growth in 2010

China Telecom (CHA.NYSE, 0728.HK) booked slower-than-expected net profit growth of 9.3% in 2010, Dow Jones reported. The slowdown was attributed to ongoing declines in the company’s fixed-line business and intensifying

Chinese shoppers seek refunds on salt purchased in panic

Panicked Chinese shoppers who swept shop shelves clean of salt in hopes that increased salt consumption would protect them from radiation are beginning to demand refunds, the

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